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- LoopNet Team
235 E Cuyahoga Falls Ave
Akron, OH 44310
CVS|20-Yr Ex|Low Price Point|Good Pop Density · Retail Property For Sale
PROPERTY FACTS
AMENITIES
- Signage
- Drive Thru
ABOUT 235 E CUYAHOGA FALLS AVE , AKRON, OH 44310
The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in the corporately backed CVS Pharmacy location in Akron, Ohio. CVS is recognized by Fast Company as one of the World's 50 Most Innovative Companies for 2018. CVS Health was also honored as No. 7 on Fast Company's Top 10 Most Innovative Companies in Health. CVS Health recently completed the $69 billion acquisition of Aetna, which will merge CVS’ 9,800 pharmacy locations with Aetna’s 22 million insurance customers creating a stronghold. CVS is a Fortune 500 company with investment grade credit (Baa2/BBB), a $68 billion market cap, $185 billion in revenue and $6.6 billion in net income proving the stability of CVS. The property is being offered for $2,268,000, representing a 5.65% CAP Rate, which is a low price point for the tenant’s current in-place, replaceable rental rate of $12.92/SF. CVS signed an original 20-year lease and executed an early extension for an additional 20 years, leaving over 18.5 years of term remaining. The tenant reimburses the Landlord for the majority of expenses and even handles some expenses directly, creating a low maintenance singe-tenant property.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $382,399 | |
| Land Assessment | $41,107 | Total Assessment | $423,506 |
PROPERTY TAXES
