303 S State St - Drug Store FOR SALE


Jerseyville, IL 62052
$4,860,000 USD
630-954-7398
303 S State St, Jerseyville, IL for Sale
$4,860,000 USD
Drug Store - FOR SALE
1/13
null | 6.75% Cap Rate

303 S State St
Jerseyville, IL 62052


HIGHLIGHTS

  • Corporate Guaranty
  • Investment Grade Credit (S&P: BBB)
  • 16+ Years Remaining
  • 5.67% Rental Increase Next Option
  • Signalized Corner
  • County Seat Location

OVERVIEW

Forged Real Estate is pleased to exclusively offer the opportunity to acquire the fee simple interest in a single tenant property leased to CVS Pharmacy, (the “Property”) in Jerseyville, the largest city and the county seat of Jersey County, Illinois. CVS operates on a double-net (NN) lease guaranteed by CVS Health Corporation with over 16 years of firm term remaining and rental increases in each of the options, with the next increase being 5.67%. CVS sits at the corner of the signalized intersection between S. State Street and E. Carpenter Street where the property benefits from excellent visibility from the combined 25,000 VPD. The property also features a drive-thru for prescription pick-up and drop-off. This location boasts four (4) modes of ingress and egress, all from different streets allowing easy access for their patrons. Jerseyville is located approximately 20 miles east and 15 miles north of the Mississippi River and the Illinois-Missouri state border. The 5-mile area surrounding the property boasts an average household income of over $115,000. CVS Pharmacy is a leading American retail pharmacy company which holds an investment grade credit rating of BBB (S&P). CVS Health’s most recent financials show that Q3 2024 revenues increased to $95.4 billion, up 6.3% compared to prior year. Within the same period, the Pharmacy and Consumer Wellness segment total revenues increased 12.3% to $32.4 billion, driven by increased prescription volume, including increased contributions from vaccinations, and pharmacy drug mix. LONG TERM CORPORATELY GUARANTEED LEASE WITH RENTAL INCREASES – CVS operates on a double-net (NN) lease guaranteed by CVS Health Corporation with over 16 years of firm term remaining and rental increases in each of the options, with the next increase being 5.67%. SIGNALIZED CORNER LOCATION WITH DRIVE-THRU – CVS sits at the corner of the signalized intersection between S. State Street and E. Carpenter Street where the property benefits from excellent visibility from the combined 25,000 VPD. The property features a drive-thru for prescription pick-up and drop-off. INVESTMENT GRADE CREDIT – CVS Pharmacy is a leading American retail pharmacy company which holds an investment grade credit rating of BBB (S&P). CVS Health’s most recent financials show that Q3 2024 revenues increased to $95.4 billion, up 6.3% compared to prior year. Within the same period, the Pharmacy and Consumer Wellness segment total revenues increased 12.3% to $32.4 billion, driven by increased prescription volume, including increased contributions from vaccinations, and pharmacy drug mix. AFFLUENT COUNTY SEAT LOCATION – Jerseyville is the largest city and the county seat of Jersey County, Illinois. The 5-mile area surrounding the property boasts an average household income of over $115,000. AMPLE ACCESSIBILITY – The property boasts four (4) modes of ingress and egress, all from different streets allowing easy access for their patrons. In Cooperation with Jimmy Goodman, The Boulder Group

FOR SALE DETAILS

PRICE

$4,860,000 USD

PRICE/SF

$407 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS Pharmacy with Drive-Thru

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.49 AC

LAND SF

64,904 SF

ZONING

-

APN/PARCEL ID

04-761-010-00

ASK ABOUT THIS PROPERTY

George GhattasMid-America Real Estate Corp.More Info
630-954-7398

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George GhattasMid-America Real Estate Corp.More Info
630-954-7398

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