2506 Niles Ave - Drug Store FOR SALE


Saint Joseph, MI 49085
$4,821,000 USD
949-244-6644
2506 Niles Ave, Saint Joseph, MI for Sale
$4,821,000 USD
Drug Store - FOR SALE
1/7
null | 6.75% Cap Rate

2506 Niles Ave
Saint Joseph, MI 49085


OVERVIEW

- CVS HEALTH CORPORATION (NYSE: CVS) | INVESTMENT GRADE CREDIT (S&P: BBB) | $372.8 BILLION (DEC-2024) | 9,395 RETAIL STORE LOCATIONS ACROSS THE U.S. - 15.7 YEARS OF FIRM TERM REMAINING | 2015 CONSTRUCTION | FIXED RENTAL INCREASES AT EACH OPTION (SEE RR ON PG. 12) | NN LEASE WITH MINIMAL LANDLORD RESPONSIBILITIES - HIGHLY VISIBLE & EASILY ACCESSIBLE LOCATION | HIGH TRAFFIC RETAIL CORRIDOR ALONG HWY 63 / NILES AVE. 15,166 VPD | LOCATED AT THE SIGNALIZED INTERSECTION OF NAPIER AVE & HWY 63 (26,635 VPD) | 0.28 MILES WEST OF THE 596 BED COREWELL HEALTH LAKELAND HOSPITALS - ST. JOSEPH HOSPITAL & LAKELAND MEDICAL CENTER - EMERGENCY ROOM COMPLEX - DENSE & STABLE DEMOGRAPHICS (49,297 RESIDENTS WITH AN AVERAGE HOUSEHOLD INCOME OF $83,014 WITHIN 5 MILES) | “RIVIERA OF THE MIDWEST” LOCATION | DENSE RETAIL CORRIDOR ALONG HWY 63 / NILES AVE. 15,166 VPD | 0.8 MILES FROM WHIRLPOOL CORPORATION’S ST. JOSEPH MANUFACTURING FACILITY, WHICH IS THE LARGEST EMPLOYER (~4,000 EMPLOYEES) IN ST. JOSEPH

FOR SALE DETAILS

PRICE

$4,821,000 USD

PRICE/SF

$359 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS Pharmacy - St. Joseph, MI

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

2.48 AC

LAND SF

108,029 SF

ZONING

Commercial

APN/PARCEL ID

11-76-3000-0002-00-8

ASK ABOUT THIS PROPERTY

Matt BerresNewmarkMore Info
949-244-6644

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Matt BerresNewmarkMore Info
949-244-6644

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.