CVS Pharmacy
Retail | 6.25% CAP | 13,000 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant, Absolute NNN leased CVS located 1108 N 14th Street in Sheboygan, Wisconsin (the “Property”). The build to suit property was developed in 2015 and CVS has 14+ years remaining on their lease with ten (10), 5-year renewal options.
The Property is situated on a highly visible corner parcel at the signalized intersection of N 14th Street and Erie Avenue (WI Route 23), the area’s primary commercial and commuter corridor. CVS enjoys outstanding visibility and frontage with three points of access and is surrounded by national and local retailers and restaurants that drive traffic to the area. Located in the heart of Sheboygan, the Property is 1.1 miles from Lake Michigan, North Side Beach, and the Harbor Center Marina and is positioned in the heart of a densely populated residential area that provides a captive customer base. The Property is convenient to HSHS St Nicholas Hospital, the University of Wisconsin Breen Bay-Sheboygan Campus, several large manufacturing and distribution facilities, and Interstate 43. Sheboygan is located on the shores of Lake Michigan approximately 60 miles south of Green Bay and 55 miles north of Milwaukee.
Investment highlights
LONG TERM LEASE: CVS has been at the Property since 2015 and has 14+ years remaining on their lease with ten (10), 5-year renewal options.
ZERO MANAGEMENT RESPONSIBILITIES: The CVS lease is Absolute NNN and requires zero management responsibilities making it an attractive fee simple investment for the passive real estate investor.
INVESTMENT GRADE CREDIT: CVS Health (NYSE: CVS) is a publicly traded company and the largest retail pharmacy in the country with over 9,000 locations. The company holds an investment grade credit rating of BBB (S&P) and BBB (Fitch) and reported 2025 revenues of over $402.1 billion, a 7.8% increase over 2024 revenues.
STRATEGIC RETAIL LOCATION: The Property is positioned at the signalized intersection of N 14th Street and Erie Avenue (WI Route 23), the area’s primary commercial and commuter corridor. CVS is surrounded by densely populated residential neighborhoods and area schools that provide a built-in customer base. The Property is centrally located and offers convenient access to Lake Michigan, North Side Beach and Harbor Center Marina (1.1-miles), HSHS St Nicholas Hospital (1.6-miles), and University of Wisconsin Green Bay-Sheboygan campus (2.8-miles). The Property is also close to several large manufacturing and distribution facilities (Kohler, Rockline Industries, The Vollrath Company, and Georgia Pacific) that provide a significant employment base and drive traffic to the area.
TRAFFIC COUNTS: On average more than 29,900 vehicles pass the Property each day at the signalized intersection of N 14th Street and Erie Avenue (WI Route 23).
NEARBY ATTRACTIONS: Sheboygan continually attracts nearby vacationers from Milwaukee and Chicago to take advantage of its beauty. Whistling Straits Golf Course, Kohler, and its numerous beaches and park are a few of its draws.
DEMOGRAPHICS: More than 49,800 people live within a 3-mile radius of the Property with an average household income of $82,963. Approximately 65,600 people live within a 5-mile radius of the Property with an average household income of $91,001. There are an additional 31,200 employees working within 5-miles of the Property.
RETAIL TRADE AREA: Additional retailers, destinations, and businesses drawing traffic to the trade area include Meijer, Festival Foods, Piggly Wiggly, Pick ‘n Save, Aldi, Kohl’s, Burlington, Ross, Hobby Lobby, Harbor Freight, Dunham Sports, Planet Fitness, Walgreens, Dollar Tree, Sherwin Williams, AutoZone, O’Reilly Auto Parts, Take 5, Panera, Starbucks, McDonald’s, Burger King, Taco Bell, Culver’s, Noodles and Company, Domino’s, Pappa Johns, Subway, Dairy Queen, and Kwik Trip.
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