Listed by Atlantic Capital Partners
$2,416,000
CVS | Union, OH
Details
APN M58 00102 0026
Property Type Retail
Sub Type Convenience Store, Pharmacy/Drug
Net Rentable (SqFt) 10,125
Units 1
Cap Rate 6.25%
NOI $151,000
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens, CVS Pharmacy
Lease Term 20
Lease Expiration 01/31/2039
Remaining Term 12.7
Rent Bumps Yes
Lease Options 4 x 5-year options
Year Built 1998
Stories 1
Acreage 1.500
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 02/01/2019
Ground Lease No
6.25% CAP | LONG TERM LEASE RECENTLY EXTENDED
Investment highlights
LONG-TERM LEASE WITH 13 YEARS REMAINING
- CVS exercised a 20-year lease extension in 2019, extending the current term through 2039 and demonstrating long-term commitment to the location
INVESTMENT-GRADE CORPORATE GUARANTOR (S&P: BBB)
- Leased to CVS Health Corporation (NYSE: CVS), one of the largest healthcare companies in the U.S. with 9,000+ locations and strong credit backing
25+ YEARS OF CONTINUOUS OPERATIONS
- CVS has successfully operated at this location since 1998, underscoring sustained store-level performance and entrenched market presence
STABLE MIDWEST MSA | DAYTON ECONOMIC DRIVERS
- Located within the Dayton-Kettering MSA, anchored by Wright-Patterson Air Force Base (~30,000 employees), major healthcare systems, and a diversified manufacturing base
STRATEGIC MAIN STREET LOCATION ALONG PRIMARY RETAIL CORRIDOR
- Situated along S. Main Street (OH-48), the primary north-south retail corridor serving Union and surrounding communities, with approximately 14,800 vehicles per day
BUILT-IN RENT GROWTH | 5% INCREASES IN OPTIONS
- The lease includes four (4) five-year renewal options with 5% rental increases, providing contractual income growth
Listing Contacts
Listed by Atlantic Capital Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$151,000.00
$12,583.33/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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