Drug Store
CVS | +/- 13 Years Remaining | Minimal LL Responsibilities | Across Grocery-Anchored Center
511 East Bnvl-New Harmony Road, Evansville, IN 47725
Listing Price: $5,000,000
Investment Overview
The subject offering is a long-term leased CVS Pharmacy located on the northside of Evansville with approximately 13 years of firm lease term remaining on its original 25-year lease and five, five-year renewal options thereafter with rare seven percent rental bumps in each renewal option period. The offering presents an ideal investment for a Buyer seeking a best-in-class investment-grade corporate tenant ranked #4 in the Fortune 500. CVS Health (NYSE: CVS) is a vertically integrated health solutions provider with nearly 10,000 locations nationwide and 2022 annual revenue exceeding $322 billion. The subject site is located at a hard corner, signalized intersection across from a Schnucks grocery anchored shopping center directly along US Hwy 41, a major north-south corridor serving the Evansville community. The immediate neighborhood has high average household income of nearly $130,000 with new additional residential and commercial/industrial developments occurring in the area. The property is near the Evansville Regional Airport and also Evansville North High School and North Jr. High School. Constructed in 2010 on a 1.69 acre lot, this is an opportunity to acquire a well-positioned passive, cash flowing investment property backed by one of the largest health organizations in the world with an attractive yield in a market with continuing strong economic growth.
CVS | +/- 13 Years Remaining | Minimal LL Responsibilities | Across Grocery-Anchored Center
Investment Highlights
- Passive Lease Structure – Tenant Responsible for CAM, Taxes, & Insurance
- Signalized, Hard-Corner Intersection
- Located Across Grocery-Anchored Shopping Center-Serves Immediate Area-Brand-New Car Wash Under Construction
- Long Lease Term Remaining: +/-13 Years Left on Original Lease with Five, Five-Year Options to Renew
- Rare 7% Rental Bumps in Each Option Period & No Rent Holiday
- Strong Demographics: Average Household Income in 2 Miles is Approximately $130,000
Exclusively Listed By
Drug Store
CVS | +/- 13 Years Remaining | Minimal LL Responsibilities | Across Grocery-Anchored Center
Listing Price: $5,000,000
Investment Highlights
- Passive Lease Structure – Tenant Responsible for CAM, Taxes, & Insurance
- Signalized, Hard-Corner Intersection
- Located Across Grocery-Anchored Shopping Center-Serves Immediate Area-Brand-New Car Wash Under Construction
- Long Lease Term Remaining: +/-13 Years Left on Original Lease with Five, Five-Year Options to Renew
- Rare 7% Rental Bumps in Each Option Period & No Rent Holiday
- Strong Demographics: Average Household Income in 2 Miles is Approximately $130,000
Investment Overview
The subject offering is a long-term leased CVS Pharmacy located on the northside of Evansville with approximately 13 years of firm lease term remaining on its original 25-year lease and five, five-year renewal options thereafter with rare seven percent rental bumps in each renewal option period. The offering presents an ideal investment for a Buyer seeking a best-in-class investment-grade corporate tenant ranked #4 in the Fortune 500. CVS Health (NYSE: CVS) is a vertically integrated health solutions provider with nearly 10,000 locations nationwide and 2022 annual revenue exceeding $322 billion. The subject site is located at a hard corner, signalized intersection across from a Schnucks grocery anchored shopping center directly along US Hwy 41, a major north-south corridor serving the Evansville community. The immediate neighborhood has high average household income of nearly $130,000 with new additional residential and commercial/industrial developments occurring in the area. The property is near the Evansville Regional Airport and also Evansville North High School and North Jr. High School. Constructed in 2010 on a 1.69 acre lot, this is an opportunity to acquire a well-positioned passive, cash flowing investment property backed by one of the largest health organizations in the world with an attractive yield in a market with continuing strong economic growth.
Exclusively Listed By
