CVS Pharmacy – Kansas City, MO

  • CVS_KansasCity_830x460

Available $4,571,289 - 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
  • NEAR ST. LUKE NORTH HOSPITAL
    159-bed regional hospital providing 24-hour emergency services
  • OUTPARCEL TO THE SHOPPES AT BARRY PLAZA
    176,000 square foot mixed development with retail and medical office including The University of Kansas’ Cancer Center
  • 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 26,400
  • DENSELY POPULATED AREA
    Over 123,000 residents within a 5 mile radius

Property Description

THE SUBJECT PROPERTY IS A 15,521 SQUARE FOOT CVS LOCATED IN KANSAS CITY, MISSOURI. 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 NW Barry Road and N Green Hills Road, the subject property is positioned just east of the St. Luke’s North Hospital, a 159-bed facility offering 24-hour emergency services and 20 specialized health care services. Additionally, CVS is positioned as an outparcel to The Shoppes at Barry Plaza, a 176,000 square foot proposed development mixed with medical office and retail and anchored by The University of Kansas Cancer Center. National retailers in the area include Ross, Office Max, Hy-Vee, Bed, Bath & Beyond, Walmart, Lowe’s and many more. This densely populated area is home to over 49,000 residents within a three mile radius and over 123,000 residents within a five mile radius.

Additional Details

  • Price: $4,571,289
  • Cap Rate: 6.52%
  • Lease Term: 14 Years Remaining
  • Year Built: 2001
  • Building Size: 15,521 SF
  • Lot Size: 2.05 Acres
  • Status: Available
Property Location