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Off Market
1/29

2001 Nicollet Ave
Minneapolis, MN 55404


HIGHLIGHTS

  • Lower Expenses Due to Condo Arrangement
  • Serves Basic Grocery Needs of Immediate Neighborhood, With Few Nearby Supermarket Options
  • Only Mpls Drug Store Drive-Thru Within 5.9 miles - Only Drive-Thru Downtown
  • 2 Downtown CVS Locations Were Vacated In 2019 Helping Funnel Traffic to This Location
  • 3 Other Pharmacies Were Recently Bought Out by CVS In the Area to Drive Prescription Business to the Location
  • Recently Underwent an Extensive Enhancement Project

OVERVIEW

This top-tier CVS offers a tremendous investment opportunity. Recently upgraded, this urban location serves the vibrant Eat Street Neighborhood, just outside of Downtown Minneapolis. The hard corner location is on a high traffic signalized intersection and features a drive-thru, coupled with rare off-street parking. This CVS has limited competition in close proximity, is strategically located near many medical facilities, and sits in a densely populated neighborhood. The Minneapolis-St. Paul MSA is home to nearly 4 million residents & is expected to continue to grow. This “essential business” has a rock solid lease structure with 12+ years remaining on an NNN condo basis. Rent bumps are offered in the option periods as well. In addition, since this is a condo location, the common area maintenance and expenses are less, since they are split amongst the building tenants - the tenant in turn benefits! CVS Health is community-based and locally focused, engaging consumers with the care they need when and where they need it. The Company has approximately 9,900 retail locations, approximately 1,100 walk-in medical clinics, a leading pharmacy benefits manager with approximately 102 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year and expanding specialty pharmacy services.

FOR SALE DETAILS

PRICE

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# OF UNITS

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CAP RATE

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% LEASED

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BUILDING DETAILS

PROPERTY NAME

CVS Pharmacy

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Drug Store

TOTAL BUILDING SIZE

94302

STORIES

4

YEAR BUILT

2006

PARKING SPACES

40

LAND DETAILS

LAND ACRES

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LAND SF

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ZONING

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APN/PARCEL ID

34-029-24-12-0180,34-029-24-12-0188,34-029-24-12-0194,34-029-24-12-0216,34-029-24-12-0219