CVS - Newark, OH | 955 N 21st St
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CVS - Newark, OH 955 N 21st St
10,242 SF Retail Building Newark, OH 43055 £1,969,999 (£192/SF) 5% Net Initial Yield
Investment Highlights
- Successful long term history at this location.
- No landlord responsibilities.
- CVS is Americas leading pharmacy.
- Ideal, management-free investment for a passive investor.
Executive Summary
• CVS has operated at this location for 25+ years
• Successful long-term history at this location; CVS recently exercised their second 5-year option, demonstrating their long-term commitment to the site
• The lease is corporate guaranteed by CVS Corporation, an investment grade (S&P:BBB), well-established tenant
• CVS is America’s leading retail pharmacy with nearly 216,000 employees and 10,000 locations, including over 1,700 pharmacies inside of Target and Schnucks grocery stores
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Ideal, management-free investment for a passive investor
• The asset is strategically located at the signalized, hard corner intersection of N. 21st St. & Meadowbrook Dr. averaging 32,800 vehicles per day
• The immediate trade area is supported by surrounding national/credit retailers such as Walmart Supercenter, Kroger, The Home Depot, and more
• Located one mile from State Highway 16 (47,200 VPD) and State Highway 79 (31,000 VPD), providing direct on/off ramp access for travelers
• The asset has excellent visibility and multiple points of ingress/egress
• More than 73,000 residents and 34,000 employees support the trade area
• $87,992 average household income
• Just under 40 minutes from Columbus, OH
• According to Placer.io, this location ranks in the top 40% of all CVS stores nationwide and in the top 19% of all Ohio locations
• CVS added a minute clinic to this location in 2015
• Successful long-term history at this location; CVS recently exercised their second 5-year option, demonstrating their long-term commitment to the site
• The lease is corporate guaranteed by CVS Corporation, an investment grade (S&P:BBB), well-established tenant
• CVS is America’s leading retail pharmacy with nearly 216,000 employees and 10,000 locations, including over 1,700 pharmacies inside of Target and Schnucks grocery stores
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• No landlord responsibilities
• Ideal, management-free investment for a passive investor
• The asset is strategically located at the signalized, hard corner intersection of N. 21st St. & Meadowbrook Dr. averaging 32,800 vehicles per day
• The immediate trade area is supported by surrounding national/credit retailers such as Walmart Supercenter, Kroger, The Home Depot, and more
• Located one mile from State Highway 16 (47,200 VPD) and State Highway 79 (31,000 VPD), providing direct on/off ramp access for travelers
• The asset has excellent visibility and multiple points of ingress/egress
• More than 73,000 residents and 34,000 employees support the trade area
• $87,992 average household income
• Just under 40 minutes from Columbus, OH
• According to Placer.io, this location ranks in the top 40% of all CVS stores nationwide and in the top 19% of all Ohio locations
• CVS added a minute clinic to this location in 2015
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
10,242 SF
Building Class
B
Year Built
1998
Price
£1,969,999
Price Per SF
£192
Net Initial Yield
5%
NOI
£98,484
Tenancy
Single
Number of Floors
1
Building FAR
0.13
Lot Size
1.75 AC
Parking
90 Spaces (8.79 Spaces per 1,000 SF Leased)
Frontage
107 ft on N 21st St
Amenities
- Pylon Sign
- Signage
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 054-259398-00.000 | Improvements Assessment | £276,105 |
| Land Assessment | £263,878 | Total Assessment | £539,984 |
PROPERTY TAXES
Parcel Number
054-259398-00.000
Land Assessment
£263,878
Improvements Assessment
£276,105
Total Assessment
£539,984
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CVS - Newark, OH | 955 N 21st St
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