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CVS Pharmacy (dark) 5801 Brooklyn Blvd 14,662 SF Retail Building Brooklyn Center, MN 55429 $3,600,000 ($245.53/SF) 9.80% Cap Rate

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Investment Highlights

Dark Tenant - 6+ Years Remaining | Investment Grade Tenant | Well-Known & Established Brand
Dense Retail Corridor | Major Surrounding Shopping Centers | Strong Tenant Presence | Limited Competition | Crystal Airport
Signalized, Hard Corner Intersection | Centralized Location | Drive-Thru Equipped | Excellent Visibility & Access

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate guaranteed, drive-thru equipped, Dark CVS Pharmacy investment property located in Brooklyn Center, MN (Minneapolis - St. Paul MSA). The tenant, Grand St. Paul CVS, L.L.C., has 6+ years of firm term remaining; however, the business is no longer in operation. The lease is guaranteed by the corporate entity (S&P: BBB | NYSE: CVS), and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

14,662 SF

Building Class

Year Built

2005

Price

$3,600,000

Price Per SF

$245.53

Cap Rate

9.80%

NOI

$352,695

Tenancy

Single

Building Height

1 Story

Building FAR

0.22

Lot Size

1.53 AC

Zoning

PUD, C-2 - Planned Unit Development / Commerce

Parking

64 Spaces (4.37 Spaces per 1,000 SF Leased)

Frontage

522’ on Brooklyn Blvd

Bus Line

Signage

Drive Thru

Retailer
-
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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.