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NN Freestanding CVS | Union, OH 124 S Main St 10,125 SF Retail Building Union, OH 45322 $2,323,000 ($229.43/SF) 6.50% Cap Rate
Investment Highlights
- STRATEGIC MAIN STREET LOCATION ALONG PRIMARY RETAIL CORRIDOR
- 25+ YEARS OF CONTINUOUS OPERATIONS
- STRATEGIC MAIN STREET LOCATION ALONG PRIMARY RETAIL CORRIDOR
- BUILT-IN RENT GROWTH | 5% INCREASES IN OPTIONS
- STABLE MIDWEST MSA | DAYTON ECONOMIC DRIVERS
- BUILT-IN RENT GROWTH | 5% INCREASES IN OPTIONS
Executive Summary
Atlantic Capital Partners has been exclusively engaged to offer for sale CVS Pharmacy | Union, OH, a net-leased investment corporately guaranteed by CVS Health Corporation (NYSE: CVS). The asset generates $151,000 in annual NOI and features approximately 13 years of remaining lease term, providing investors with durable income backed by investment-grade corporate credit. CVS has operated at this location since 1998, with more than 25 years of continuous occupancy and long-term commitment to the site. The tenant further reinforced this commitment by exercising a 20-year lease extension in 2019, extending the current term through January 2039. The lease includes four (4) additional five-year renewal options with scheduled 5% rental increases, offering embedded income growth and long-term cash flow visibility.
The offering presents a compelling opportunity to acquire a necessity-based healthcare tenant with both duration and growth. Investors benefit from a strong in-place yield, contractual rent increases, and stabilizing exposure to the Dayton MSA, anchored by Wright-Patterson Air Force Base (30,000+ employees), major healthcare systems, and a
diversified manufacturing base.
The offering presents a compelling opportunity to acquire a necessity-based healthcare tenant with both duration and growth. Investors benefit from a strong in-place yield, contractual rent increases, and stabilizing exposure to the Dayton MSA, anchored by Wright-Patterson Air Force Base (30,000+ employees), major healthcare systems, and a
diversified manufacturing base.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,125 SF
Building Class
B
Year Built
1998
Price
$2,323,000
Price Per SF
$229.43
Cap Rate
6.50%
NOI
$151,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.50 AC
Zoning
C-1, Union - Commercial
Parking
38 Spaces (3.75 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
- Drive Thru
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 10,125 SF
- $14.91
- Triple Net
- Jan 2039
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 Type | Lease End | |
|
|
Retailer | 10,125 SF | $14.91 | Triple Net | Jan 2039 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | M58-00102-0026 | Improvements Assessment | $277,460 |
| Land Assessment | $60,010 | Total Assessment | $337,470 |
Property Taxes
Parcel Number
M58-00102-0026
Land Assessment
$60,010
Improvements Assessment
$277,460
Total Assessment
$337,470
Contacts
-
Eric Suffoletto -
David Hoppe -
Mike Lucier -
Ben Olmstead -
Ben McCarter -
Atlantic Capital Partners
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