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111 W 38th Street - CVS, Indianapolis, IN

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111 W 38th Street - CVS

Indianapolis, IN 46208-4206 - Midtown Submarket

Property Type:Retail Sub Type:Freestanding Status:Existing Year Built:1999
Building Size:10,125 SF Land Area:1 AC (43,560 SF)
For Sale Price:$4,720,000 Price/SF:$466.17
Cap Rate:7.00 %
Parking:35 Surface spaces are available; Ratio of 3.46/1,000 SF
Features:Drive Thru

Sale Notes:
Stan Johnson Company is pleased to exclusively offer for sale to qualified investors the fee simple interest in a CVS Pharmacy property located in Indianapolis, Indiana. This property was a build-to-suit for CVS in 1999. The
Tenant is operating under a 20 year base term which expires on January 31, 2020, with an additional Four (4), Five (5) year option periods.

This location is located on a hard corner with a combined traffic count of nearly 65,000 vehicles per day and there are over 85,000 people that live within 3 miles. Butler University, Historical Shortridge High School and the
Indiana State Fairgrounds are all within 1 mile of this location, serving as great traffic generators.

CVS Health recently completed a $1.9 billion agreement to take over Target' s (NYSE: TGT) pharmacy and clinic businesses. The deal brings 1,672 new pharmacies into CVS Health, which will expand its retail footprint by more than 20%. For the 12-month period ended December 31, 2015, CVS Health Corporation had total revenue of $153.29 billion, net income of $5.23 billion and a net worth in excess of $36.02 billion. CVS currently holds a Standard & Poor' s credit rating of BBB+/Stable.

Stan Johnson Company
Chad Byerly
(918) 494-2690

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