CVS – Akron, OH
CVS PHARMACY
Akron, OH
PRICE $1,800,000
GLA 6,000 SF
PROPERTY TYPE Retail
CAP RATE 6.7%
LEASE TYPE NN+
LEASE EXPIRATION Mar. 2029
YEAR BUILT 1979
Akron, OH
PRICE $1,800,000
GLA 6,000 SF
PROPERTY TYPE Retail
CAP RATE 6.7%
LEASE TYPE NN+
LEASE EXPIRATION Mar. 2029
YEAR BUILT 1979
DEMOGRAPHICS
Population 197,597
Per Capita Inc $23,430
Median HH Inc $37,533
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INVESTMENT HIGHLIGHTS
- STRONG GUARANTEE – Guaranteed by CVS Ohio, a subsidiary of CVS Corporation
- NEW LONG TERM NN+ LEASE WITH RARE RENT INCREASES – CVS recently executed a new 10 year lease with 10% rent bumps every 5 years
- FREESTANDING BUILDING WITH DRIVE-THRU – Freestanding CVS equipped with a Drive-Thru window
- RECESSION PROOF (COVID-19 CRISIS) – CVS Pharmacy locations remain open during the COVID-19 crisis and is planning on hiring 50,000 workers
- LOCATION – Located at a highly trafficked hard corner and signalized intersection with 23,000+ cars daily including a bus stop. There are also several national tenants located within the area. Property is near a new Amazon Distribution Center – 8 minute drive
- ABUNDANT PARKING – 30 parking spaces
- DEMOGRAPHICS – Very dense residential area. Akron has a population of approx. 198K residents
| Price: | $1,800,000 |
| City: | Akron |
| State: | OH |
| Square Feet: | 6,000 SF |
| Price: | $1,800,000 |
| Cap Rate: | 6.7% |