955 N 21st St - Freestanding FOR SALE


Newark, OH 43055
$2,515,000 USD
202-286-1542
955 N 21st St, Newark, OH for Sale
$2,515,000 USD
Freestanding - FOR SALE
1/10
null | 5% Cap Rate

955 N 21st St
Newark, OH 43055


HIGHLIGHTS

  • Successful long term history at this location.
  • CVS is Americas leading pharmacy.
  • No landlord responsibilities.
  • Ideal, management-free investment for a passive investor.

OVERVIEW

• CVS has operated at this location for 25+ years • Successful long-term history at this location; CVS recently exercised their second 5-year option, demonstrating their long-term commitment to the site • The lease is corporate guaranteed by CVS Corporation, an investment grade (S&P:BBB), well-established tenant • CVS is America’s leading retail pharmacy with nearly 216,000 employees and 10,000 locations, including over 1,700 pharmacies inside of Target and Schnucks grocery stores • Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises • No landlord responsibilities • Ideal, management-free investment for a passive investor • The asset is strategically located at the signalized, hard corner intersection of N. 21st St. & Meadowbrook Dr. averaging 32,800 vehicles per day • The immediate trade area is supported by surrounding national/credit retailers such as Walmart Supercenter, Kroger, The Home Depot, and more • Located one mile from State Highway 16 (47,200 VPD) and State Highway 79 (31,000 VPD), providing direct on/off ramp access for travelers • The asset has excellent visibility and multiple points of ingress/egress • More than 73,000 residents and 34,000 employees support the trade area • $87,992 average household income • Just under 40 minutes from Columbus, OH • According to Placer.io, this location ranks in the top 40% of all CVS stores nationwide and in the top 19% of all Ohio locations • CVS added a minute clinic to this location in 2015

FOR SALE DETAILS

PRICE

$2,515,000 USD

PRICE/SF

$246 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS - Newark, OH

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

90

LAND DETAILS

LAND ACRES

1.75 AC

LAND SF

76,230 SF

ZONING

C

APN/PARCEL ID

054-259398-00.000

ASK ABOUT THIS PROPERTY

Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

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Andrew FallonSRS Real Estate PartnersMore Info
202-286-1542

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