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CVS Pharmacy 717 N 3rd St 10,125 SF Retail Building Logansport, IN 46947 $3,530,075 ($348.65/SF) 6.65% Cap Rate
Investment Highlights
- Investment Grade Credit Tenant
- Low Rent-to-Sales Ratio
- Established Regional Hub
- Longstanding History and Recent Renewal
- Great Visibility & Ease of Access
- Long Remaining Lease Term on Net Lease Structure
Executive Summary
The Property is 100% occupied by CVS Health Corporation and is subject to a NN lease with limited landlord responsibilities. There are 14.5 years remaining on the base lease term with 5, 5-year renewal option periods and 5% rent increases at the beginning of each option period.
The Property is located in Logansport, Indiana, the largest city and county seat of Cass County. Logansport is centrally positioned between Indianapolis and Chicago, providing convenient access to major Midwest population centers, and serves as the primary commercial and employment hub for the surrounding region. Located less than one mile from the Property, Parkview Logansport Hospital is an 83-bed, full-service medical facility widely recognized for delivering high-quality care to the Cass County region.
In Association With BJ Feller, IN Lic #RB14036515
The Property is located in Logansport, Indiana, the largest city and county seat of Cass County. Logansport is centrally positioned between Indianapolis and Chicago, providing convenient access to major Midwest population centers, and serves as the primary commercial and employment hub for the surrounding region. Located less than one mile from the Property, Parkview Logansport Hospital is an 83-bed, full-service medical facility widely recognized for delivering high-quality care to the Cass County region.
In Association With BJ Feller, IN Lic #RB14036515
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
10,125 SF
Building Class
C
Year Built
1999
Price
$3,530,075
Price Per SF
$348.65
Cap Rate
6.65%
NOI
$234,750
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.33 AC
Frontage
211’ on 3rd St
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- Jan 2019
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 End | ||
|
|
Retailer | - | - | Jan 2019 |
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 09-17-44-225-021.000-010 | Improvements Assessment | $534,100 |
| Land Assessment | $67,500 | Total Assessment | $601,600 |
Property Taxes
Parcel Number
09-17-44-225-021.000-010
Land Assessment
$67,500
Improvements Assessment
$534,100
Total Assessment
$601,600
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CVS Pharmacy | 717 N 3rd St