Available $2,340,086 - 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 25 year lease with approximately 12 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 $184 billion in 2017
- POSITIONED ALONG AREA’S MAIN TRAFFIC CORRIDOR
Daily traffic counts exceed 16,300 vehicles per day
- HARD CORNER LOCATION WITH DRIVE-THRU
The site is positioned on a hard corner location offering accessibility along West Broadway, Southwest 1st Street and Grant Street
THE SUBJECT PROPERTY IS A 9,684 SQUARE FOOT CVS LOCATED IN LOOGOOTEE, IN. CVS SIGNED A 25 YEAR LEASE WHICH COMMENCED IN DECEMBER OF 2005, LEAVING APPROXIMATELY 12 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 $184 billion in 2017.
Located at the intersection of West Broadway and Southwest 1st Street, the subject property is positioned along the area’s main retail and traffic corridor. National retailers surrounding the property include O’Reilly Auto Parts, Family Dollar, Hometown IGA, Dairy Queen, Subway, McDonald’s, Circle K and many more. Daily traffic counts exceed 16,300 vehicles per day.
- Price:: $2,340,086
- Cap Rate:: 6.75%
- Lease Term:: 12 Years Remaining
- Year Built:: 2005
- Building Size:: 9,684 SF
- Lot Size:: 1.49 Acres
- Status: Available