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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

Retail Buildings Kansas Olathe 18351 W 119th St, Olathe, KS 66061

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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.

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Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
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 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 11,000 SF - Triple Net Jan 2032
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Source: Local Logic®

Nearby Major Retailers

Club Pilates
Hy-Vee
UMB Bank

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
(404) 551-2068 x706

Still interested?

Contact the brokers for more information about this property

Contacts

  • Listing ID: 33192470

  • Date on Market: 9/16/2024

  • Last Updated:

  • Address: 18351 W 119th St, Olathe, KS 66061

The Millcreek Retail Property at 18351 W 119th St, Olathe, KS 66061 is currently available. Contact The Net Lease Group for more information.

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CVS Pharmacy | 18351 W 119th St
(404) 551-2068 x 706

CVS Pharmacy | 18351 W 119th St

Esmael Hill
(404) 551-2068 x706

Dane Bailey
(404) 551-2350

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