Available $6,378,000 - Retail - Single Tenant
Investment Offering & Highlights
- ABSOLUTE NET LEASE STRUCTURE
Zero landlord responsibilities for operating or capital expenses
- CORPORATE BACKED LONG TERM LEASE
CVS signed a new 20 year lease underscoring their long term commitment to the site
- BBB CREDIT RATING BY STANDARD & POOR’S
Tenant is publicly traded on the NYSE and reported annual revenues in excess of $209 billion in 2019
- LESS THAN ONE MILE FROM COLUMBUS REGIONAL HEALTH HOSPITAL
225 bed regional facility with over 2,100 employees service a 10 county region
- POSITIONED ALONG MAIN RETAIL HUB ADJACENT TO COLUMBUS CENTER
393,000 square foot retail power center anchored by Target, TJ Maxx, Office Max and more
- 24 HOUR LOCATION WITH MINUTE CLINIC AND DRIVE-THRU
The site is positioned on a hard corner location with easy access via two main traffic arteries
THE SUBJECT PROPERTY IS A 12,900 SQUARE FOOT CVS LOCATED IN COLUMBUS, INDIANA. CVS HAS SHOWN LONG TERM COMMITMENT TO THE SITE HAVING EXECUTED A NEW 20 YEAR FIRM LEASE TERM WHICH RUNS THROUGH 2039. THE LEASE IS STRUCTURED WITH FIVE PERCENT RENT INCREASES BETWEEN EACH OF THE FOUR 5-YEAR RENEWAL OPTIONS.
The lease is absolute net providing for zero landlord responsibilities. CVS, which is publicly traded on the New York Stock Exchange under the ticker symbol “CVS”, has a current BBB credit rating by Standard & Poor’s and reported annual revenues in excess of $209 billion in 2019.
Located at the intersection of National Road and 25th Street, the subject property is positioned in the heart of the area’s main retail hub adjacent to Columbus Center, a 393,000 square foot retail center anchored by Target, TJ Maxx, OfficeMax, Big Lots, Family Dollar and more. Additionally, CVS is just east of Fairoaks Mall, a 270,000 square foot regional mall anchored by Carson’s, JC Penney, Cummins International and many others. The subject property is also situated less than a mile from the Columbus Regional Health Hospital, a 225 bed facility with over 2,100 employees serving a 10 county region.
- Price: $6,378,000
- Cap Rate: 5.00%
- Lease Term: 20 Years Remaining
- Year Built: 2006
- Building Size: 12,900 SF
- Lot Size: 1.52 Acres
- Status: Available