Listed by Encore Real Estate Investment Services
$3,062,336
CVS Oak Street Health
Details
Property Type Retail
Sub Type Convenience Store, Pharmacy/Drug
Square Footage 11,338
Cap Rate 7%
NOI $214,363
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type NN
Lease Term 37
Lease Expiration 01/06/2032
Remaining Term 5.5
Rent Bumps Yes
Lease Options Three (3), 5-Year Options
Price per SqFt $270
Year Built 1996
Buildings 1
Acreage 1.060
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 01/05/1995
Ground Lease No
Tenant Recently Exercised 5 Year Option Early | 30+ Years Occupancy
Investment highlights
- CVS Recently Exercised 5-Year Renewal Option Without Rent Reduction
- Long-Term Commitment to the Site with the Tenant Occupying this Location for Over 30 Years
- Healthcare anchored: The site accommodates both CVS Pharmacy and Oak Street Health, combining retail pharmacy with primary care — aligning with evolving healthcare/retail convergence trends.
- Positioned at the Signalized Intersection of Oakland Park Ave (11,000+ VPD) and Cleveland Ave (21,800+ VPD)
- Easily Accessible with Multiple Access Points and Ample Parking Spaces
- New Roof Installed in 2017
- Situated within a Retail Corridor Surrounded by National Retailers Including McDonald's, Popeye's, Taco Bell, Wendy's, and KFC
- Solid 1, 3, and 5-Mile Demographics with a Population of Nearly 145,000 within a 3-Mile Radius and a Population of Nearly 370,000 within a 5-Mile Radius
Listing Contacts
Listed by Encore Real Estate Investment Services
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Loan Amount
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Annual Debt Service
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$--
Annual Cash Flow
$214,363.00
$17,863.58/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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