Asking Price S$6,179,000
Sq. Footage 9,750
NOI Net Operating Income S$315,100
Cap Rate 5.10%

Attributes

Year Built 2000
Lease Type NNN
Current / Passing Rent S$315,100
Lease Expiration 2038-12-31
Tenant CVS Health
Lot Size 1.2 ACRES

Property Description

CVS Pharmacy for sale in Louisville, Kentucky. Located at a prominent, hard-corner, signalized intersection in a dense retail corridor with over 1 million square feet of retail space within 1 mile of the asset. National retailers in the vicinity include Lowe’s, Barnes & Noble, Bonefish Grill, and Carraba’s Italian Grill. Set in an affluent area with 195,000 residents with an average household income over $102,000 within a 5-mile radius.

Investment Highlights

  • Rare fee simple interest in a CVS
  • Property features an absolute NNN lease structure, with a recently extended primary 20-year term
  • Ownership is selling the ground interest as well as the leasehold interest
  • Future ownership will have the option of selling one or both off to reduce their overall basis
  • Corporate guarantee from an investment grade tenant and the largest U.S. pharmacy by total prescription revenue
Alex Sharrin
Alex Sharrin
SVP, Capital Markets
Licensed in
IL - 475.170243
Douglas Owen
Douglas Owen
SVP, Brokerage
Licensed in
KY - 198490

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