2715 E Battlefield St - Drug Store FOR SALE


Springfield, MO 65804- Southeast Springfield
$5,397,185 USD
404-635-8859
2715 E Battlefield St, Springfield, MO for Sale
$5,397,185 USD
Drug Store - FOR SALE
1/3
null | 7% Cap Rate

2715 E Battlefield St
Springfield, MO 65804
Southeast Springfield


HIGHLIGHTS

  • BEST-IN-CLASS, INVESTMENT-GRADE, PUBLIC GUARANTOR | IDEAL “COUPON CLIPPER” INVESTMENT OPPORTUNITY
  • 10+ YEARS BASE REMAINING
  • HIGHLY PASSIVE, ABSOLUTE NNN LEASE
  • EXCELLENT ACCESS & VISIBILITY ON HARD, SIGNALIZED CORNER
  • ATTRACTIVE LOCAL RETAIL MARKET | STRONG REAL ESTATE FUNDAMENTALS OFFER OUTSTANDING RESIDUAL VALUE
  • DENSE, AFFLUENT DEMOGRAPHICS IN GROWING MARKET

OVERVIEW

Northmarq, on behalf of ownership, is pleased to present the opportunity to acquire the fee simple interest in the CVS Pharmacy located at 2715 East Battlefield Street in Springfield, Missouri (the “Property”). This offering features over 10 years of remaining term on CVS’s Absolute NNN lease with zero landlord responsibilities. This includes roughly 7.5 years of rent and 3 years of rent holiday. Additionally, there are ten, five-year option periods to immediately follow – two at fixed rate and eight at fair market value. CVS Health Corp. (NYSE: CVS) operates more than 9,000 locations nationwide and employs approximately 300,000 people across the U.S., Washington D.C., and Puerto Rico. The company generates over $372 billion in annual revenue and is ranked #5 on the Fortune 500. CVS holds investment-grade credit ratings from all major agencies, including a “BBB” rating with a stable outlook from Standard & Poor’s. The Property is strategically positioned at a hard, signalized corner. It is less than one mile from US-65 and is within a dense retail market that includes two major shopping centers. Demographics are strong (average household income of $106K+ within one mile, 496K+ trade area population) and retail market fundamentals are among the best in the nation (just 1.9% vacancy, well below the five- and ten-year averages and far outpacing the national average), providing exceptional residual value.

FOR SALE DETAILS

PRICE

$5,397,185 USD

PRICE/SF

$407 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS Pharmacy

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

74

LAND DETAILS

LAND ACRES

2.75 AC

LAND SF

119,616 SF

ZONING

INC

APN/PARCEL ID

19-04-205-006

ASK ABOUT THIS PROPERTY

Jason PowellNorthmarqMore Info
404-635-8859

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Jason PowellNorthmarqMore Info
404-635-8859

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