CVS Pharmacy – Green Bay, WI

  • CVS_GreenBay_830x460

Available $3,676,789 - Retail - Single Tenant
Cap Rate:  6.52%Size:  15,521 SFTerm:  14 Years Remaining Print

 Investment Offering & Highlights

  • ABSOLUTE NET LEASE STRUCTURE
    Zero landlord responsibilities for operating or capital expenses
  • CORPORATE BACKED LONG TERM LEASE
    CVS signed a 25 year lease in 2006 leaving approximately 14 years remaining on the initial lease term
  • BBB+ CREDIT RATING BY STANDARD & POOR’S
    Tenant is publicly traded on the NYSE and reported annual revenues in excess of $177 billion in 2016
  • CONTINUED HEATH CARE DEVELOPMENT IN SURROUNDING COMMUNITY
    Near newly built 150,000 square foot senior living facility in close proximity
  • HARD CORNER LOCATION WITH DRIVE-THRU
    Easily accessible via two of the area’s main traffic corridors with combined daily traffic counts in excess of 20,900 vehicles
  • TEN MINUTE DRIVE FROM LAMBEAU FIELD
    Property is approximately 6 miles north of Lambeau Field just west of Interstate 41
  • DENSELY POPULATED AREA
    Over 92,000 residents within a 5 mile radius

Property Description

THE SUBJECT PROPERTY IS A 15,521 SQUARE FOOT CVS LOCATED IN GREEN BAY, WISCONSIN. CVS SIGNED A 25 YEAR LEASE WHICH COMMENCED IN 2006, LEAVING APPROXIMATELY 14 YEARS REMAINING ON THE TENANT’S INITIAL LEASE TERM.

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 $177 billion in 2016.

Located at the signalized intersection of Velp Avenue and Glendale Avenue, the subject property is accessible via the immediate area’s two main traffic arteries with combined daily traffic counts in excess of 20,900 vehicles. Other national retailers in the immediate area include McDonald’s, Family Dollar, Shell, Edward Jones, Subway, Dairy Queen and more. The site is located in the northwest section of town, less than a ten minute drive from Lambeau Field. The surrounding community is seeing continued development in the health care sector with a the newly developed Lighthouse of Howard, a 150,000 square foot senior living facility that was built in June of 2016. This densely populated area is home to over 35,000 residents within a three mile radius and over 92,000 residents within a five mile radius.

Additional Details

  • Price: $3,676,789
  • Cap Rate: 6.52%
  • Lease Term: 14 Years Remaining
  • Building Size: 15,521 SF
  • Lot Size: 1.75 Acres
  • Status: Available
Property Location