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Fee Simple NNN CVS 1950 State St 13,416 SF Retail Building New Albany, IN 47150 $6,496,000 ($484.20/SF) 7% Cap Rate
Investment Highlights
- Outparcel to Baptist Health Floyd Hospital as well as the Floyd County Health Department.
- New Albany, IN is located on the Indiana/Kentucky border and is part of the larger Louisville, KY MSA.
- Baptist Health Floyd has emerged as an outstanding regional healthcare provider, with a well-built team of more than 600 physicians.
Executive Summary
Fee Simple NNN CVS Property - 15+ Years of Guaranteed Lease Term Remaining - Rental Increases in each option - Outparcel to Hospital
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,416 SF
Year Built
2015
Price
$6,496,000
Price Per SF
$484.20
Cap Rate
7%
NOI
$454,731
Tenancy
Single
Building Height
1 Story
Building FAR
0.38
Lot Size
0.81 AC
Parking
45 Spaces (3.35 Spaces per 1,000 SF Leased)
Frontage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 13,464 SF
- $33.77
- Triple Net
- Jan 2041
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 | 13,464 SF | $33.77 | Triple Net | Jan 2041 |
Walk Score®
Very Walkable (74)
Nearby Major Retailers
Property Taxes
| Parcel Number | 22-05-03-400-106.000-008 | Improvements Assessment | $1,165,300 |
| Land Assessment | $121,100 | Total Assessment | $1,286,400 |
Property Taxes
Parcel Number
22-05-03-400-106.000-008
Land Assessment
$121,100
Improvements Assessment
$1,165,300
Total Assessment
$1,286,400
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Fee Simple NNN CVS | 1950 State St
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