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CVS 1 S Commercial St 10,722 SF Retail Building Harrisburg, IL 62946 $2,272,727 ($211.97/SF) 6.60% Cap Rate
Investment Highlights
- Investment Grade - Credit rating of BBB from S&P.
- 25-Year Operating History - This pharmacy location has been continuously operated since the building was constructed in 1998.
- Strong Regional Access - Harrisburg is served by the convergence of four highways (U.S. 45 and Illinois 13, 145, and 34), positioning it as the region
- Long-Term Lease - Approximately 12 years remaining through June 2038.
- Anchored Trade Area - The immediate market is supported by Walmart Supercenter, Kroger, ALDI, McDonald’s, and the 77-bed SIH Harrisburg Medical Center
- 5% Rental Escalations - Built into each of the four 5-year renewal option periods.
Executive Summary
The Boulder Group is pleased to exclusively market for sale a single tenant net leased CVS Pharmacy located in Harrisburg, Illinois. CVS has operated from this location for more than 25 years. CVS is currently operating on a long-term net lease that extends through June 2038, with approximately 12 years of remaining term. Additionally, the lease provides for 5% rental increases in each of the four 5-year renewal options. The lease is backed by CVS Corporation, and the tenant maintains investment-grade credit ratings of BBB from S&P and Baa3 from Moody’s.
The 10,722 square foot building is positioned at the northwest corner of Commercial Street and Poplar Street in downtown Harrisburg, the county seat of Saline County. Harrisburg serves as the commercial and administrative hub of Saline County and is accessed by the convergence of four highways - U.S. Route 45, IL Route 13, 145, and 34 The trade area is anchored by a Walmart Supercenter and by SIH Harrisburg Medical Center, a 77-bed community hospital, and the city is nationally recognized as the gateway to the Shawnee National Forest and the Garden of the Gods Recreation Area, drawing consistent visitor traffic. Surrounding national and regional retailers include ALDI, Kroger, McDonald’s, Taco Bell, KFC, Dollar General, O’Reilly Auto Parts, Murphy USA, Sonic Drive-In, Dairy Queen, Burger King, and Scooter’s Coffee.
CVS Health Corporation is one of the largest integrated healthcare and pharmacy companies in the United States, operating approximately 9,000 retail pharmacy locations nationwide. Founded in 1963 as Consumer Value Stores and headquartered in Woonsocket, Rhode Island, the company has grown into a diversified healthcare enterprise spanning retail pharmacy, pharmacy benefit management through CVS Caremark, and health insurance through its Aetna segment. CVS Pharmacy remains the consumer-facing retail brand, offering prescription services, health and wellness products, and everyday convenience goods.
The 10,722 square foot building is positioned at the northwest corner of Commercial Street and Poplar Street in downtown Harrisburg, the county seat of Saline County. Harrisburg serves as the commercial and administrative hub of Saline County and is accessed by the convergence of four highways - U.S. Route 45, IL Route 13, 145, and 34 The trade area is anchored by a Walmart Supercenter and by SIH Harrisburg Medical Center, a 77-bed community hospital, and the city is nationally recognized as the gateway to the Shawnee National Forest and the Garden of the Gods Recreation Area, drawing consistent visitor traffic. Surrounding national and regional retailers include ALDI, Kroger, McDonald’s, Taco Bell, KFC, Dollar General, O’Reilly Auto Parts, Murphy USA, Sonic Drive-In, Dairy Queen, Burger King, and Scooter’s Coffee.
CVS Health Corporation is one of the largest integrated healthcare and pharmacy companies in the United States, operating approximately 9,000 retail pharmacy locations nationwide. Founded in 1963 as Consumer Value Stores and headquartered in Woonsocket, Rhode Island, the company has grown into a diversified healthcare enterprise spanning retail pharmacy, pharmacy benefit management through CVS Caremark, and health insurance through its Aetna segment. CVS Pharmacy remains the consumer-facing retail brand, offering prescription services, health and wellness products, and everyday convenience goods.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
10,722 SF
Building Class
C
Year Built
1998
Price
$2,272,727
Price Per SF
$211.97
Cap Rate
6.60%
NOI
$150,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.13 AC
Opportunity Zone
Yes
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- Jun 2038
CVS Pharmacy began as Consumer Value Stores in Lowell, Massachusetts in 1963 and introduced pharmacies inside stores a few years later in Cranston, Rhode Island. The business operates as part of CVS Health, a broader health care company that combines retail pharmacy with pharmacy services, mail order, specialty pharmacy, prescription delivery, vaccinations, and clinical support. CVS Pharmacy serves consumers through a wide network of neighborhood pharmacies and offers services tied to medication access, counseling, and wellness needs. Over time, the company expanded from a single store format into a major U.S. pharmacy presence with a national footprint in health care delivery.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | Jun 2038 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 06-2-559-01 | Improvements Assessment | $213,697 |
| Land Assessment | $62,451 | Total Assessment | $276,148 |
Property Taxes
Parcel Number
06-2-559-01
Land Assessment
$62,451
Improvements Assessment
$213,697
Total Assessment
$276,148
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