CVS Pharmacy | Union, OH
Retail | 6.50% CAP | 10,125 SqFt
Marketing description
Atlantic Capital Partners has been exclusively engaged to offer for sale CVS Pharmacy | Union, OH, a net-leased investment corporately guaranteed by CVS Health Corporation (NYSE: CVS). The asset generates $151,000 in annual NOI and features approximately 13 years of remaining lease term, providing investors with durable income backed by investment-grade corporate credit.
CVS has operated at this location since 1998, with more than 25 years of continuous occupancy and long-term commitment to the site. The tenant further reinforced this commitment by exercising a 20-year lease extension in 2019, extending the current term through January 2039. The lease includes four (4) additional five-year renewal options with scheduled 5% rental increases, offering embedded income growth and long-term cash flow visibility.
The offering presents a compelling opportunity to acquire a necessity-based healthcare tenant with both duration and growth. Investors benefit from a strong in-place yield, contractual rent increases, and stabilizing exposure to the Dayton MSA, anchored by Wright-Patterson Air Force Base (30,000+ employees), major healthcare systems, and a diversified manufacturing base.
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.
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