Listed by Marcus & Millichap - Manhattan
$7,595,000
Absolute Net CVS w/14 Years Remaining
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 13,728
Cap Rate 6%
NOI $455,713
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type Absolute NNN
Lease Expiration 01/30/2041
Remaining Term 14.6
Rent Bumps Yes
Lease Options 10 x 5 Years
Year Built 2014
Acreage 1.610
Tenant Credit Credit Rated
Ground Lease No
CVS w/14 Years Remaining
Marketing description
Subject is a 13,728 Square-Foot CVS on a 1.29-Acre Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress and Located at a Signalized Intersection. The Absolute Net Lease is Corporate Guaranteed and has Over Fourteen Years Remaining, S&P Recently Updated Outlook to Stable Affirming Their BBB Rating.
Investment highlights
- Steady Traffic Counts on Superior Street (9k VPD) and 300' From London Road (13k VPD) (Source: CoStar, 2025)
- Duluth is the Primary Medical Hub for the “Northland”, Serving Over 47k Square Miles in Three States
- CVS Sits Half a Block Away From Duluth’s Medical Mile, St. Luke’s and St. Mary’s Hospitals, Who Recently Invested Over $1 Billion in the Region
- Affluent Community with an Average Household Income of Over $87K within Five Miles of the Subject Asset, as of 2025
- Subject is 1 Mile from Downtown Duluth with a Population of 88k
- Parks and Outdoor Recreational Facilities Nearby Include: The Lake Walk, Duluth Rose Garden, Canal Park, Great Lakes Aquarium, 12 Street Beach, Duluth Yacht Club, and More
Listing Contacts
Listed by Marcus & Millichap - Manhattan
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$455,713.00
$37,976.08/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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