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CVS Pharmacy 18351 W 119th St 11,000 SF Retail Building Olathe, KS 66061 $5,337,956 ($485.27/SF) 6.75% Cap Rate
Investment Highlights
- Bondable NNN Lease
- Strong Traffic Count
- Excellent Location & Visibility
- CVS HealthHub
- Investment Grade Credit Tenant
- $112,317 Household Income
Executive Summary
The Net Lease Group is proud to exclusively offer for sale the fee simple interest in a freestanding CVS retail store, with a CVS HealthHUB located at the southwest corner of W 119th Street and Ridgeview Road in Olathe, Kansas. The offering consists of the fee simple interest in a freestanding retail store constructed in the affluent, densely populated Kansas City suburb of Olathe. Occupied by CVS since 2006, the ± 11,000 square foot Property sits on a ± 1.50-acre parcel at the southwest corner of 119th Street and Ridgeview Road, which provides maximum visibility to over 28,000 cars each day. CVS has approximately 6.25 years remaining on the initial lease term. The offering provides prospective investors the opportunity to purchase an institutional quality asset, generating stable, predictable cash flow in a rapidly growing suburban Kansas City market.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
11,000 SF
Building Class
C
Year Built
2006
Price
$5,337,956
Price Per SF
$485.27
Cap Rate
6.75%
NOI
$360,312
Tenancy
Single
Building Height
1 Story
Slab To Slab
11’
Building FAR
0.17
Lot Size
1.50 AC
Zoning
CP3 - Commercial
Parking
25 Spaces (2.27 Spaces per 1,000 SF Leased)
Frontage
218’ on 119th St
Amenities
- 24 Hour Access
- Signage
- Signalized Intersection
- Drive Thru
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 11,000 SF
- -
- Triple Net
- Jan 2032
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 | 11,000 SF | - | Triple Net | Jan 2032 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | DP16370000-0001 | Improvements Assessment | $475,053 |
| Land Assessment | $313,448 | Total Assessment | $788,501 |
Property Taxes
Parcel Number
DP16370000-0001
Land Assessment
$313,448
Improvements Assessment
$475,053
Total Assessment
$788,501
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