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22001 Lake Shore Blvd 13,013 SF Retail Building Euclid, OH 44123 $4,874,674 ($374.60/SF) 9% Cap Rate
Investment Highlights
- TERM REMAINING (8.5 YEARS) - Primary Term expires July 31, 2034. CVS has operated from this location since 2009.
- OPEN 24 HOURS + DRIVE THRU PHARMACY - High performing store with 15+ Year operating history.
- 1.6 MILES FROM CLEVELAND CLINIC, EUCLID HOSPITAL Cleveland Clinic is one of the world’s largest healthcare systems in the world.
- ABSOLUTE NET BOND LEASE - No Landlord Responsibilities.
- ACTIVE RETAIL TRADE AREA - The property is positioned near numerous other national credit tenants including ALDI, Wendy’s, Chase Bank, and more.
- 1.9 MILES FROM A 650,000 SF AMAZON FULFILLMENT CENTER - Major employment base employing over 2,000 employees.
Executive Summary
Rent Holiday: 8/2031 - 7/2034
Price is Inclusive of Full Credit for the Rent Holiday
Price is Inclusive of Full Credit for the Rent Holiday
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,013 SF
Building Class
B
Year Built
2009
Price
$4,874,674
Price Per SF
$374.60
Cap Rate
9%
NOI
$438,594
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.55 AC
Zoning
U4
Parking
50 Spaces (6.54 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
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 End | ||
|
|
Retailer | - | - | - |
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 642-08-084 | Improvements Assessment | $136,115 |
| Land Assessment | $172,270 | Total Assessment | $308,385 |
Property Taxes
Parcel Number
642-08-084
Land Assessment
$172,270
Improvements Assessment
$136,115
Total Assessment
$308,385
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22001 Lake Shore Blvd
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