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NNN Freestanding CVS | Union, OH 124 S Main St 10,125 SF Retail Building Union, OH 45322 $2,204,380 ($217.72/SF) 6.85% Cap Rate
Investment Highlights
- STRATEGIC MAIN STREET LOCATION ALONG PRIMARY RETAIL CORRIDOR
- 25+ YEARS OF CONTINUOUS OPERATIONS
- BUILT-IN RENT GROWTH | 5% INCREASES IN OPTIONS
Executive Summary
LONG-TERM LEASE WITH 13 YEARS REMAINING
- ?CVS exercised a 20-year lease extension in 2019, extending the current term through 2039 and demonstrating long-term commitment to the location
INVESTMENT-GRADE CORPORATE GUARANTOR (S&P: BBB)
- ?Leased to CVS Health Corporation (NYSE: CVS), one of the largest healthcare companies in the U.S. with 9,000+ locations and strong credit backing
25+ YEARS OF CONTINUOUS OPERATIONS
? - CVS has successfully operated at this location since 1998, underscoring sustained store-level performance and entrenched market presence
STABLE MIDWEST MSA | DAYTON ECONOMIC DRIVERS
- ?Located within the Dayton-Kettering MSA, anchored by Wright-Patterson Air Force Base (~30,000 employees), major healthcare systems, and a diversified manufacturing base
STRATEGIC MAIN STREET LOCATION ALONG PRIMARY RETAIL CORRIDOR
- ?Situated along S. Main Street (OH-48), the primary north-south retail corridor serving Union and surrounding communities, with approximately 14,800 vehicles per day
BUILT-IN RENT GROWTH | 5% INCREASES IN OPTIONS
- ?The lease includes four (4) five-year renewal options with 5% rental increases, providing contractual income growth
- ?CVS exercised a 20-year lease extension in 2019, extending the current term through 2039 and demonstrating long-term commitment to the location
INVESTMENT-GRADE CORPORATE GUARANTOR (S&P: BBB)
- ?Leased to CVS Health Corporation (NYSE: CVS), one of the largest healthcare companies in the U.S. with 9,000+ locations and strong credit backing
25+ YEARS OF CONTINUOUS OPERATIONS
? - CVS has successfully operated at this location since 1998, underscoring sustained store-level performance and entrenched market presence
STABLE MIDWEST MSA | DAYTON ECONOMIC DRIVERS
- ?Located within the Dayton-Kettering MSA, anchored by Wright-Patterson Air Force Base (~30,000 employees), major healthcare systems, and a diversified manufacturing base
STRATEGIC MAIN STREET LOCATION ALONG PRIMARY RETAIL CORRIDOR
- ?Situated along S. Main Street (OH-48), the primary north-south retail corridor serving Union and surrounding communities, with approximately 14,800 vehicles per day
BUILT-IN RENT GROWTH | 5% INCREASES IN OPTIONS
- ?The lease includes four (4) five-year renewal options with 5% rental increases, providing contractual income growth
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
$2,204,380
Price Per SF
$217.72
Cap Rate
6.85%
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 in 1963 as Consumer Value Stores in Lowell, Massachusetts, selling health products. The company expanded into pharmacy services in 1967 and was later acquired by Melville Corporation. Through strategic acquisitions like MinuteClinic and Caremark, CVS grew its healthcare services. The 2018 merger with Aetna made CVS Health a major player in insurance. Today, the company operates pharmacies nationwide, manages pharmacy benefits, and provides health insurance through various subsidiaries.
| 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 -
Danny Griffin -
Mike Lucier -
Ben Olmstead -
Ben McCarter -
Kendra Doherty -
Connor Kuchman -
Atlantic Capital Partners
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NNN Freestanding CVS | Union, OH | 124 S Main St
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