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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 a single store in Lowell, Massachusetts in 1963 and grew into a retail pharmacy business within CVS Health. The company dispenses prescriptions and supports patient care through vaccinations, counseling, prescription savings, mail order pharmacy, specialty pharmacy, and prescription delivery, while also selling health and wellness products and general merchandise. CVS Pharmacy remains a major U.S. pharmacy chain with a broad neighborhood presence and is part of a larger health care platform that connects retail pharmacy, pharmacy benefits, and related services.
| 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 -
Kendra Doherty -
Connor Kuchman -
Atlantic Capital Partners
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