CVS For Sale
There are a number of different types of CVS properties for sale when compared to other freestanding net leased tenants.
CVS property for sale can range in square footage, tenant operations, building type, lease structure and ownership structure. These factors directly impact the value of any CVS for sale and should be considered in addition to the typical valuation factors of real estate quality and lease term remaining before the options. Some CVS for sale are zero cash flow ownership structures where the entire rental payments go to the lender to pay down the debt giving the landlord zero cash flow during the primary lease term. Many times these CVS properties for sale have a rent holiday for CVS at the end of the primary term before the lease options.
These zero cash flow CVS investments are valued completely differently than the typical CVS for sale. Most CVS for sale are fee simple ownership structures; however, there are some CVS for sale that are infill ground lease structures that may have increases in the primary lease term or have larger increases in the renewal option periods versus a typical CVS lease. Another ownership type that is more prevalent with CVS for sale are the leasehold ownership structures. These CVS properties have a ground owner but then also a leasehold position that can become available for sale.
Another differentiator between CVS properties for sale is the lease structure.
Some CVS for sale are absolute net with zero landlord responsibilities and other CVS for sale are double net with varying landlord responsibilities. Of the double net CVS property for sale some have roof, structure or parking lot responsibilities and some may have reimbursable expenses pertaining to common areas if located within a shopping center. CVS properties all have varying business operations which directly affect store profitability.
CVS properties for sale have a minute clinic or are 24 hour operations which are preferred by many net lease investors. Most CVS stores for sale have store operating hours until 8 PM to 10 PM. Some CVS stores may have beer, wine or liquor sales as well.These are all smaller factors that help investors value CVS for sale especially when stores sales volumes are not available to the landlord. If a CVS for sale has a few of these positive subtle differences over another CVS for sale then it provides comfort to an investor in the likelihood of CVS remaining as a tenant for years to come.
In addition to these factors, two main drivers in pricing of CVS property for sale are the primary lease term remaining before the renewal options and the real estate quality. CVS for sale that have over 15 years of primary lease term before the options may trade 125 basis points lower or more versus other CVS properties that have less than 5 years of lease term remaining. As with most net leased properties, the main value is the credit strength of the tenant and the lease in place but obviously all investors regardless of property type consider the real estate quality.
The difference with CVS for sale is that an investor must understand the backfill rent per square foot and compare that with the likelihood of CVS renewing the lease to see if they are purchasing the risk at a fair CAP rate. The factors mentioned in this article will allow any investor considering a purchase of a CVS investment a way to gauge value between one CVS for sale versus another CVS for sale when real estate quality is even. Due to these varying factors in CVS properties for sale it’s important to work with a broker who has a firm understanding of drugstore properties and who has closed a variety of CVS properties for sale.
Does CVS own real estate?
CVS owns some of their real estate that they have either developed internally or purchased through acquiring another pharmacy chain. Over the years, CVS has sold many locations that they developed through sale leasebacks.
How big is the average CVS?
CVS buildings typically range from 9,000 square feet up to 30,000 square feet. Most CVS freestanding buildings are in the 10,000 square feet to 16,000 square feet range. There are some CVS buildings, mostly in California, that are shopping center anchors or supplementary inline space that are over 20,000 square feet.
- Approximately 12 years remaining on the absolute triple net (NNN) lease, ensuring a stable and passive income stream with no landlord responsibilities whatsoever.
- According to Placer.Ai this location is in the top 25% in customer visits nationwide and the #1 CVS in a 10-mile radius.
- Southern Middle School and Cornwall Terrace Elementary School, located across the street, combine for ±1,300 students.
- Over 57,000 residents within a 3-mile radius with an average household income exceeding $113,000, reflecting strong economic fundamentals.
- Sinking Spring Skilled Nursing Center and The Residence at Village Greens, both within 1 mile of the subject property, total over 345 beds.
- The property is located 3.6 miles from Tower Health/Reading Hospital, the region's largest medical provider with over 700 beds and more than 1,000 physicians and healthcare professionals.
- Seller to credit full 3-year rent credit at close of escrow.
- CVS guarantees the rental income which has 5% increases in the options and does not include a rent holiday.
- In 2020, after operating at the location for 14 years, CVS agreed to extend the lease to a rare 20 year firm term before the options showing the strong performance and commitment to the location.
- New developments include over 110,000 square feet of medical space as well as 'Orland Ridge', a brand new 300+ home community located directly across the street.
- Frontage on La Grange Road (38,700 VPD) and 171st Street (14,300 VPD) and with direct access to Interstate 80 (102,900 VPD).
- ±172,000 residents in a 5-Mile radius with an Average Household Income of ±$130,000 within 1-Mile.
- CVS guarantees the rental income which has 5% increases in the options and does not include a rent holiday.
- In 2019, CVS agreed to extend the lease to a 20 year firm term showing their commitment to the location.
- This property is located in the heart of Summerville and benefits from limited drugstore competition with no other CVS or Walgreens for over 14 Miles.
- Located just a 5-minute drive to the northeast is Atrium Health Floyd Chattooga, which serves as the primary healthcare facility for Summerville and the surrounding communities.
- Average household income of over $134,000 within a 3-mile radius.
- $160M luxury apartment project is being constructed 1 block away, (455K sf residential complex with 262 units).
- Located 1 mile north of the property, St. Joseph's University - Long Island (3,000 students on 32-acre campus).
- Located 2.5 miles from the property, NYU Langone Hospital - Suffolk is a 306-bed medical center, home to the Knapp Cardiac Care Center—an advanced heart disease diagnostic and treatment facility.
- Long Island, comprised of Suffolk and Nassau counties, has a population of 8.06 million, comprising over one-third of New York State's entire population.
- Located 4 miles from the property, Long Island MacArthur Airport provides flights to over 1.2 million passengers annually.
- Located less than 1 mile to the North, Sentara Virginia Beach General Hospital is the most extensive hospital system in the market, serving Virginia Beach, Eastern Shore, and Northeastern North Carolina with over 270 beds. Sentra recently invested $294 million into the facility and surrounding communities.
- Located less than 0.5 miles from the subject property, Naval Air Station Oceana is the Navy’s East Coast Master Jet Base. With 17 aviation squadrons, 10,500 active Navy personnel, 10,000 family members, and 4,500 civilian personnel, NAS Oceana is the second largest employer in Virginia Beach.
- Recently completed in December of 2024, 'Ascend at Hilltop Apartments' is a $46 million, ±329K SF development that consists of 115 units and is located 0.5 mile from the subject property.
- The subject property has over 2.3 million square feet of retail space within 1 mile, anchored by national tenants such as Kroger, Trader Joe's, Target, Walmart Supercenter, and Whole Foods.
- The property has direct access to Interstate 264, the main east-to-west connector between Norfolk and Virginia Beach, with over 96,000 vehicles per day.
- Located 1 mile to the East, Virginia Beach is the most populous city in the U.S. Commonwealth of Virginia and the sixth-most populous city in the Mid-Atlantic.
- In a 1, 3 and 5-mile radius average household incomes range from $120,000 to $130,000 per household.
- Situated at the crossroads of US-46 and NJ-10, the property benefits from its close proximity to the Christopher Columbus Highway interchange (I-80), with over 114,000 vehicles per day.
- The lease is an absolute NNN lease with zero landlord obligations whatsoever.
- Located less than 4 miles from the property, Saint Clare’s Dover Hospital General is a 24/7 trauma center providing inpatient care and hospitalization services.
- There is more than 2 million square feet of retail space within 1 mile of the property, anchored by Walmart, Home Depot, Petco, Burlington, and Kohl's.
- The lease calls for five 10-year options, with rental increases every 10 years.
- Walgreens has a history of strong front end sales and is reporting volumes of approximately $3M.
- Within a 5 mile and 10 mile radius there is approximately 75,000 residents and 175,000 residents respectively. Average household incomes range from $70,000 to $80,000 in a 5 mile radius.
- The property is the only Walgreens property inside the I-35W, HWY 13 W, and HWY 169 freeway loop in West Bloomington, for over 3.5 miles.
- Over 10.6 million square feet of existing industrial space is within 3 miles of the property, with a vacancy rate under 3%.
- The property is located 13 miles from Downtown Minneapolis and benefits from being located within the 16th largest metropolitan area in the United States, with over 3.7 million residents.
- The property is situated at the signalized hard corner of W Old Shakopee Rd and France Ave S, with over 37,000 vehicles per day.
- Infill Houston MSA demographics with ±500,000 people in ±189,000 residences with an average HH income of $80,0134 in a 5-mile radius.
- Directly across the corner from an emergency room connected to the HCA Houston Hospital System.
- Highly visible and trafficked signalized corner with a combined traffic count of ±74,416 vehicles per day.
- There are ±37 multi-housing complexes with over 11,500 units and 15 hotels with over 1,200 rooms all within a 1-mile radius.
- The lease operates on an absolute net leased basis and there are no landlord responsibilities whatsoever.
- Located within Westchase Business District which is home to large corporations such as Honeywell, Chevron, Dow Chemical and Phillips 66 with ±16M square feet of office space within a 4-mile radius.
- In the past 5 years, 691 multi-family units, including the 331-unit 'Fitzroy Promenade', have been built in the immediate 2- mile radius. In addition, the 34-acre 'Crossroads at Chenal' mixed-use development is set to be completed this year.
- There is 2.7 million square feet of retail space in a 2-mile radius. Located 1 mile north of the subject property is the Promenade at Chenal, a 306,000 sf open-air lifestyle center which is home to popular retailers such as Apple, Lululemon, DSW, and Homegoods.
- Frontage on Chenal Parkway (39,000 VPD) and Wellington Hills Road (5,905 VPD).
- Subject property is located in a dense affluent area with average household income of over $121,000 and a population of more than 45,000 residents in a 3-mile radius.
- Within a 4-mile radius there are three major hospitals with a combined bed count of over 1,066 beds.
- Walgreens lease runs through October 31, 2032, with no landlord responsibilities.
- In a 1 and 3-mile radius average household incomes are approximately $100,000 per household.
- Located near I-95 Exit 53 and Shore Line East commuter rail station.
- Coastal zoning and built-out conditions restrict new commercial development.
- West Main Street maintains historically low vacancy and strong tenant retention.
- Close to major employment centers including Yale University and Yale-New Haven Hospital.
- In a 5-mile radius the population is 249,502 residents with an average household income of $93,968.
- Nearby hospitals include MultiCare Tacoma General Hospital (0.5 mi NE) with 437 beds and St. Joseph Medical Center (1.4 mi SE) with 374 beds.
- Within a 1-mile radius there are ± 220 apartment complexes with a total of ±6,200 units, with an additional 289 units in the recently constructed Aspire 11, a six-story mixed-use project less than a mile away.
- Located in the immediate area are The University of Puget Sound, Bates Technical College and the University of Washington - Tacoma.
- Absolute NNN lease through August 31, 2032, with ten (5-year) renewal options and no landlord responsibilities.
- In a 1, 3 and 5-mile radius average household incomes range from $90,000 to $100,000 per household. Positioned along Farmington Avenue (Route 372) with direct access to I-91 and I-84 with ±15,400 vehicles per day.
- Located 12 miles from Hartford, home to major employers such as Travelers, Aetna, The Hartford, and Hartford Healthcare.
- Surrounded by major employers including Eversource Energy, Assa Abloy, Comcast, and others with over 3,000 jobs in the immediate area.
- Proximity to multiple institutions, including Central Connecticut State University in nearby New Britain and the University of Hartford.
- Walgreens has exceptional annual reported sales and a 14+ years of operating history.
- No immediate national drugstore chain competition with the next closest national chain drugstore being a CVS 91 miles west and the closest Walgreens is 98 miles east.
- District 177, a $75 Million redevelopment project located across the street including 96 apartments and ±480K SF of street-level retail space.
- Great Plains Health Hospital is located 1 mile southwest with 116 beds, 1,100 employees and 183K patients per month.
- Sustainable Beef's $325 Million facility is located 2.5 miles southeast and is opening Summer 2025 with 500K SF and projected to add 875 new jobs.
- Dense retail corridor with 1.6 million square feet of retail space in a 1-mile radius.
- Near Union Pacific's Bailey Yard, the largest railroad yard in the world with 14K rail cars per day.
- Lease allows for 5% rental increases every five years through 2049 with the next rental increase in May 2025.
- Beaumont Hospital is located just one block south of subject property with 148 beds and 1,094 employees.
- Over 16 million square feet of industrial space within a 3-mile radius and 2.3 million square feet of retail space within a 2-mile radius.
- Infill Detroit Metro demographics with Over 244,000 residents within 97,686 households in a 5-mile radius with an average household income of $71,255.
- Located just south of I-94 (155,000 VPD) on the corner of Telegraph Road and Wick Road with a combined traffic count of 66,422 vehicles per day.
- Approximately 4 miles east of Detroit Metropolitan Airport with 36.7 million annual passengers and over 1,100 flights daily.
- Just 8 miles southwest of Ford's 16M square foot world headquarter campus.
- According to Placer.Ai, this Walgreens is the most visited location out of 10 stores in a 30-mile radius.
- This Walgreens is positioned in the main retail corridor in the city with over 2.2 million sf of retail space within a 2-mile radius.
- This Walgreens lease allows for approximately 4% rental increases every 10 years.
- Approximately 2 years ago, Walgreens closed their only other location in the city directing customers to this location for their prescriptions.
- This offering allows an investor the opportunity to assume the existing fully amortizing below market financing at a rate of 5.07%. (See Page 4 of Marketing Package)
- This Walgreens is the only freestanding drugstore serving the city’s market and only Walgreens open until 10pm for over 15 miles.
- This property benefits from its location on a signalized corner with approximately 38,000 VPD and is located just off Interstate 79.
- Within a 10-mile radius there is ±61.8M square feet of industrial space including distribution and manufacturing for companies such as Amazon, Starbucks, DHL, FedEx, and Post.
- Property is located across the corner from CVS making this a strategic location for both Walgreens and CVS.
- Interstate 83 is blocks from the Property with a traffic count of ±79,000 vehicles per day.
- Within a 3-mile radius, the average household income is $81,069 and the population is 153,292 residents in a 5-mile radius.
- Located 2 miles northwest is WellSpan York Hospital, a teaching hospital with 593 beds and over 5,000 medical staff and employees.
- Two blocks south is York County School of Technology with ±1,700 students and ±120 staff.
- Within a 2 mile radius there are 8 senior housing facilities totaling approximately ±388,898 square feet.
- New developments within 2 miles include Evolve at Waterford, Exchange at Westgate, Brunswick Forest and Inspire at Brunswick Forest totaling 1,178 units.
- 1 million square feet of retail space in the immediate 1-mile radius anchored by Aldi, Harris Teeter and Walmart Supercenter.
- Located on a signalized corner with frontage on Ocean Highway E (56,000 VPD) and with direct access to Andrew Jackson Highway NE (71,000 VPD).
- Leland’s population increased 70% from 2010 to 2020 and is currently growing at a rate of 8.25% annually.
- Positioned less than 2 miles from Novant Health Brunswick Forest Medical Plaza which services the Greater Leland market.
- With a 2.5% corporate tax rate, North Carolina is continually ranked as one of the best business climates in the United States. CNBC named the state as America’s top state for business.
- Walgreens has been operating at this location since 1999, and in 2019, Walgreens renewed its first 5-year option. In 2024, Walgreens restructured its lease early, extending the firm lease term to 2034.
- Two hospitals totaling 540 beds are both within 2 miles of the property.
- Within 3.5 miles there are currently over 350 new units under construction.
- Situated at a signalized intersection with a combined traffic count of 37,000 vehicles per day.
- There is more than 4.8 million square feet of existing retail space within 2 miles of the property.
- New 15-year lease signed, including 5% rent increases during 8 (5-year) option periods.
- Placer.Ai ranks this location #1 out of 5 Walgreens stores within a 10-mile radius.
- Located in a dense retail corridor with 4.7 million square feet of retail space within two miles.
- Benefits from a regional military presence of ±82,000 active-duty personnel from 15 installations, including ±23,000 employees at Joint Base Langley-Eustis.
- Both the store and pharmacy are open 24 hours a day, with strong sales figures of ±$3.25 million being reported.
- Ranked in the top 10% of all Walgreens nationwide in customer visits, according to Placer.Ai.
- CVS is located directly adjacent to the subject property with the next nearest Walgreens over 11 miles to the east.
- Located two miles east of Jefferson Memorial Hospital.
- Oshkosh Corporation, a Fortune 500 company, has a 500,000 square foot facility in Jefferson City and employs approximately 300 employees.
- Walgreens benefits from being located in a 964,000 SF retail corridor with nearby national tenants such as Tractor Supply Co., CVS, Walmart Supercenter, Lowes, Dollar General, O'Reilly, Advance Auto Parts, and Food City.
- Cherokee Reservoir is located 2.5 miles to the north and attracts 1 to 2 million visitors annually.
- Walgreens recently signed a new 15-year lease extension, demonstrating their long-term commitment to the site.
- Strong reported sales of ±$3 million
- The nearest Walgreens property is over 40 miles away, while the next nearest CVS store is more than 74 miles.
- The lease includes 5% rental increases every 5 years in the initial term and options.
- The subject property is 1-mile from Great Plains Regional Medical Center, a 24-hour trauma center serving the greater Western Oklahoma and the Eastern Texas Panhandle.
- Absolute net lease with no landlord responsibilities whatsoever.
- Absolute NNN lease with twelve (5-year) renewal options and 5% rent increases in the first four renewal periods.
- Located 0.5 miles from Trinity Health Muskegon Hospital, a 358-bed facility.
- West Shore Plaza, a 959,000-square-foot retail center anchored by Walmart Supercenter, Lowe's, and Sam's Club, is situated approximately one mile to the east.
- Situated along Sherman Boulevard, a primary east-west corridor linking residential areas, retail centers, and medical services across the Muskegon market.
- In March of 2025 GE Aerospace announced they are planning a $70 million expansion at their site in Norton Shores.
- Walgreens has been operating at this location since 2000 and in 2020 Walgreens renewed its first 5 year option. In 2024, Walgreens restructured its lease early making a firm lease term to 2030.
- The lease features 5% rental increases at each 5 year option period beginning in 2031.
- The property is located on a 3.49 acre parcel on a hard corner with over 37,0000 combined vehicles per day.
- Located in one of the fastest-growing cities in the United States, driven by military, aerospace, healthcare, and technology sectors.
- 1.5 miles south of a 413-bed hospital
- 3 Mi W of the Fairfax District (527-acre industrial park 10K employees) which is anchored by Kellogg’s and General Motors Assembly Manufacturing Plants.
- Midtown Station- New Development under construction 1 Mi W that includes over 1,500 new residences, 200K square feet of commercial space, a hotel, conference center, and an innovation hub.
- The property has 4.2 million square feet of retail space and over 45 million square feet of industrial space within 4 miles.
- 2.5 miles south of the property, the BNSF Railway Argentine Yard covers 780 acres and is one of the largest and busiest rail yards in the United States. BNSF announced a $3.8 billion capital investment plan for 2025.
- This lease calls for 5% rental increases every 5 years throughout the first four option periods.
- Only freestanding Walgreens property for 5 miles, serving over 140,000 residents.
- In December of 2024, Walgreens announced that they would be closing their location in Belton making this the only Walgreens in a 5-mile radius.
- There are over 2,680 multifamily units within 2 miles of the Subject Property, supporting an average household income of $104,000+.
- Raymore is located 23 miles from Downtown Kansas City and is one of the fastest-growing cities in Missouri.
- There is 3 million square feet of retail space and over 2.6 million square feet of industrial space within 3 miles of the Subject Property.
- Subject Property is 1.5 miles from Belton Regional Medical Center, an 85-bed acute-care facility offering a full range of inpatient and outpatient services.
- This Walgreens is located on the opposite corner north of a CVS drugstore, making this a strategic location for both Walgreens and CVS.
- Located less than half a mile from the Kalamazoo Event Center, a $300 million project which broke ground in November of 2024.
- Close proximity to WMU which consists of 22,500 students and employs 803 faculty as well as Kalamazoo College with 1,378 students.
- In 2014, Walgreens relocated to this site, building a new prototype store in a high-barrier-to-entry market to enhance visibility, with approximately 42,000 vehicles passing by daily.
- The Kalamazoo area serves as headquarters for Fortune 500 companies Stryker & Zoetis, with over ±1.2 million square feet in office/warehouse space. Additionally, Pfizer maintains a substantial presence in the region with their 1,300-acre manufacturing facility.
- Located less than two miles from the subject property, Bronson Methodist Hospital consists of 434 beds and operates on a 28-acre campus.
- Central Business District, which is located in Downtown Kalamazoo, is home to over 1,000 businesses in the surrounding area.
- The lease is an absolute NNN lease with zero landlord obligations whatsoever.
- Located 1 mile south of the property, Central Michigan University has over 15,000 full-time students and is one of the major employers in Mt. Pleasant.
- Less than 1 mile from the property, McLaren Central Michigan is a 118-bed acute care, CMS 5-Star rated hospital that serves Mount Pleasant, Isabella County, and central Michigan.
- Owned and operated by the Saginaw Chippewa Tribal Nation, Soaring Eagle Casino & Resort features a 514-room hotel and employs over 3,000 people.
- The property is located on the signalized hard-corner of N. Mission St and Pickard St, with a combined 33,136 vehicles per day. Additionally, the property is situated in close proximity to the US-127 interchange, connecting Lansing to the South with over 20,000 vehicles per day.
- Frontage on Thornton Road (47,300 VPD) and Maxham Road (32,400 VPD).
- Close proximity to Amazon ATL8, Lineage Logistics, GXO Logistics, and Medline distribution centers, with ±24.9 million square feet of industrial space in the area.
- Douglas County is part of Amazon Web Services’ $11 billion investment in Georgia’s cloud and data center infrastructure.
- Absolute triple-net (NNN) lease through September 2028 with ten (5-year) renewal options.
- Thornton Road/State Route 6 serves as the main retail corridor in this market with a strong mix of complimentary national and regional tenants surrounding the subject property.
- Absolute NNN lease with twelve (5-year) renewal options and 5% rent increases in the first four renewal periods.
- Top 20% location nationwide per Placer.Ai with strong reported sales.
- Located at the intersection of Riverdale Road and Winchester Road, capturing approximately 62,256 vehicles daily.
- Winchester Road provides direct connectivity to Memphis International Airport, just 8 miles from the property.
- Surrounded by major national retailers including Costco, Walmart, Sam’s Club, Home Depot, Lowe’s, Ross, Kroger, and Topgolf.
- Regional economy anchored by FedEx’s global air cargo hub and major distribution centers for Nike, Amazon, UPS, and DHL.
- The lease is an absolute NNN lease with zero landlord obligations whatsoever with six (5-year) renewal options and 10% rent increases in the first and third options.
- No other Walgreens within 13 miles and no CVS location within 26 miles.
- Located on a key north-south corridor leading to Quebec, approximately 80 miles from the Canadian border via Coburn Gore crossing.
- Close proximity to the University of Maine at Farmington, serving 1,837 students and 149 faculty and staff.
- Less than 1 mile from Acension St. Vincent Hospital (500+ beds) and 3.3 miles from Deaconess Gateway Hospital (250 beds).
- 2M SF of retail within a 1 mile radius and less than 2 miles south of Eastland Mall (1M SF).
- Absolute NNN lease with twelve (5-year) renewal options and 5% rent increases in the first four renewal periods.
- Labcorp patient service center operates within the building, generating additional healthcare-related foot traffic.
- Combined traffic count of approximately 25,426 VPD along South Green River Road and Washington Avenue and is less than a mile from SR 66 with 62,961 VPD.
- Evansville employers include Deaconess Health System, Berry Global Group (Fortune 500), Ascension, Old National Bank, and Toyota Motor Manufacturing Indiana.
- Across the street from the property, Allen Hospital is a 204-bed hospital serving the greater Cedar Valley market.
- There is over 5.8M sf of industrial space within 3 miles of the property, with a vacancy rate below 1%.
- This Walgreens is the only Walgreens north of Cedar River in Waterloo for over 15 miles.
- The lease calls for a 5% increase in the first four options.
- Close proximity to the John Deere Tractor Major Operations Center & Tyson Foods Fresh Meats processing facility.
- Walgreens recently extended their lease in 2023 to a firm 12 years of lease term, showing their commitment to this location.
- Frontage on SW Moreland School Road (9,320 VPD) and MO-7 (25,384 VPD).
- Located in a affluent Kansas City suburb, the average household income in a 1-mile radius is ±$101,000.
- Purchaser has the option to assume the current in place financing with an interest rate of 3.50%. The current balance of the loan is approximately $2,118,271 as of March 2025. Purchaser will be responsible for the 0.25% assumption fee.
- Located 3 miles to the north, St. Mary’s Medical center is a 137-bed acute care facility which has served the community for over 40 years.
- This Walgreens is located across from a CVS making this a strategic market share corner for the two largest national drugstore chains.
- Walgreens has a history of strong reported sales volumes at this location.
- Less than 1 mile of ThedaCare Regional Medical Center which is the region's largest employer (7,000+ employees, 172 beds).
- Dense retail and industrial trade area with 6.2 million square feet of retail space and 8.3 million square feet of industrial space in a 3-mile radius.
- Located directly across the street from Edenbrook Nursing Home (150 beds) and 0.7 miles from Rennes Health and Rehabilitation Center (88 beds).
- Appleton is the 6th largest city in Wisconsin with a population of 143,000 in a 5-mile radius.
- Located at the signalized hard corner with strong combined traffic count of 30,000 VPD and blocks from Interstate 41 with traffic count of 76,200 VPD.
- The lease is an absolute NNN lease with zero landlord obligations whatsoever.
- The property serves as the only Walgreens property in Princeton, with the next closest Walgreens pharmacy 23 miles away.
- Located 6 miles away, Toyota Motor Manufacturing Indiana (TMMI) employs over 7,000 people and has invested over $1.3 billion in plant expansions, including electric vehicle production.
- Less than 1 mile from the property, Gibson General Hospital serves as the region’s leading healthcare facility.
- Average household incomes are in the $70,000 to $75,000 range within a 3, 5 and 10 mile radius.
- Princeton is located 45 minutes north of Evansville via US-41 S.
- The lease is an absolute NNN lease with zero landlord obligations whatsoever.
- Less than half a mile from the property, St. Joseph's Hospital is the only level IV trauma center in the area.
- The next nearest Walgreens location is over 15 miles away.
- The property is surrounded by national retail tenants such as Walmart Supercenter, Lowe’s, Kroger, and Tractor Supply, and has the only national big-box tenants in a 12-mile radius.
- Located less than 1 mile from University.
- The nearest alternative Walgreens location is situated more than 26 miles away, while this particular Walgreens property demonstrates a significant annual foot traffic advantage, exceeding the CVS property directly across the street by over 100,000 visits, according to data from Placer.ai.
- This Walgreens is positioned on Homer Road, the main retail corridor in Minden and the surrounding communities with numerous national and regional retailers.
- 1.1 Mi E of Minden Medical Center, a 161 bed acute care facility, being the only hospital serving a population of more than 70,000 people.
- Walgreens has been operating at this location for approximately 12 years.
- Absolute triple-net lease with no landlord responsibilities; stable income through January 31, 2034.
- Tyson Foods’ 288,710 SF processing facility (1,500+ employees) and Raytheon’s 407,000 SF manufacturing center. In 2022, Tyson invested $90 million in expanding its facility, resulting in the creation of 320 additional jobs and making it the single largest capital investment in Scott County.
- The investment allows for a significant portion of the purchase price to be recaptured during the initial lease term.
- No other Walgreens within a 32-mile radius; tenant serves as the primary national pharmacy provider in the region.
- Positioned off U.S. Route 80 the property is located just off the main east-west corridor connecting Meridian and Jackson, supporting daily regional traffic.
- According to Placer.AI, this Walgreens ranks in the top 25% nationwide in foot traffic and is the best among five competing national chain drugstores in a five-mile radius.
- Walgreens recently renewed their 5-Year option without any concession showing their commitment to this location.
- This is the only Walgreens serving the Bessemer market and is the furthest southwest location along the I-20 corridor on the route from Birmingham to Tuscaloosa.
- This Walgreens store is conveniently located near major employers and facilities, including US PIPE (500 employees), BLOX (1 million sf facility with 600 employees), Dollar General Distribution Center ($100 million campus spanning 106 acres), and Piggly Wiggly Manufacturing Headquarters (450K sf facility).
- The property is the closest Walgreens to UAB Medical West, a 9-story, 412K sf, 200-bed hospital with a 7-story, 127K sf medical office building.
- Walgreens has operated at this location for over 17 years with 8 years of firm lease on an absolute net lease.
- Within a 5 mile and 10 mile radius there is approximately 75,000 residents and 175,000 residents respectively. Average household incomes range from $70,000 to $80,000 in a 5 mile radius.
- There are a total of 29 hotels within a 1-mile radius of the property (2,056 rooms) including Garden Inn (145 rooms), Baymont Inn & Suites (123 rooms), and Daylite Inn (120 rooms).
- Located along Elkhart’s main commercial corridor with 24,246 vehicles per day, surrounded by national retailers including Walmart, Meijer, Lowe’s and Menards.
- Citywide revitalization efforts include the $300M+ ASPIRE Elkhart initiative, River District transformation, and business park expansion, supporting long-term growth.
- Immediate connectivity to the Indiana Toll Road (I-80/I-90) allows easy access to South Bend, Chicago, and the greater Midwest.
- The property is feet away from the ingress/egress for Interstate-70 with 130,000 vehicles per day and situated at the signalized hard corner of Brice Rd and Tussing Rd with a combined 45,000 vehicles per day.
- Proposed 50-acre development adjacent to the property featuring 2 Class A multi-tenant light industrial buildings totaling ±267K sf.
- Located less than 1 mile from the property, the JCPenney Logistics Center spans 2,117,753 square feet.
- Situated 4 miles northeast of the property, John Glenn Columbus International Airport has 9 million annual passengers and recently broke ground on a new terminal, expected to be completed in 2029.
- There is 3.7 million square feet of retail space and over 3.8 million square feet of industrial space within 2 miles of the Property.
- Absolute NNN lease with zero landlord obligations whatsoever, with 5% rental increases in the first four options.
- The property benefits from minimal drugstore competition with the next nearest Walgreens 26 miles away and the nearest CVS over 45 miles away.
- Serving as the only major hospital system in Parsons, Labette Health is a 99-bed hospital providing acute, intensive, and inpatient rehabilitation services to the six-county area.
- Located 1.5 miles from the property, Parsons Research Center is a partnership between Kansas State University and federal, state, and county governments conducting research throughout Kansas.
- Adjacent to the property, Labette Community College enrolls over 1,500 students annually.
- The investment allows for a significant portion of the purchase price to be recaptured during the initial lease term.
- Situated on ±99,752 square feet (2.29 Acres) of land along NY Route 5.
- The next closest Walgreens is 13 miles away while the nearest CVS is 15 miles away.
- Positioned along the area’s primary commercial and commuter corridor with direct visibility and access.
- 1 mile from Lake Erie and near Evangola State Park.
- Over 12 million square feet of industrial space in a 5-mile radius including major companies like Hyundai and FedEx.
- Opposite corner to CVS and next Walgreens 4.4 miles away making this a strategic location for both Walgreens and CVS.
- There are 844 multifamily units within the immediate 1-mile radius.
- Centrally located between three major interstates that connect Shreveport west to Dallas/Ft. Worth, TX, south to Baton Rouge/New Orleans, LA and west to Jackson, MS.
- Within two blocks of the property are located a high school, junior high and elementary school with a combined 2,481 students.
- Just 3 miles west of Shreveport Regional Airport with 560,000 annual passengers.
- The Property is located in a designated Opportunity Zone.
- This is the only Walgreens property on the southwest side of the Missouri River, and the nearest freestanding CVS store is over 70 miles away.
- The lease calls for a 5% increase in October 2026 and a 5% increase at each of the first four options.
- The average household income within a 1-mile and 5-mile radius is approximately ±$75,000.
- The Iowa Economic Development Authority approved the Southbridge Business Park, located 4 miles away, with a $50 million state investment for roads, a 2027 I-29 interchange, utilities, and other infrastructure.
- The market has over 5 million square feet of industrial space, including Tyson Foods' 744,000-square-foot beef packing plant, employing over 4,200 people as one of six Tyson facilities.
- Northeast Community College - South Sioux City Campus, less than 1 mile away, enrolls over 5,500 students in full or part-time classes.
- The lease is an absolute NNN lease with zero landlord obligations whatsoever with 5% increases in the first four options.
- Morris Packaging has committed $60M to develop a 100K sq ft facility to create nearly 300 jobs. Additionally, EPC-Columbia is expanding its manufacturing operation, adding 40k sf to its existing 240k sf facility.
- Lebanon Bypass (KY 2154) is being extended from KY 55 to US 68 east of Lebanon. The extension is part of a broader plan to improve connectivity and reduce congestion in the area.
- The property serves as the only national chain drugstore in Lebanon, with the next closest Walgreens or CVS pharmacy over 18 miles away.
- Less than 1 mile away, Spring View Hospital, a 75-bed full-service facility, serves as a primary medical provider for Marion County and the surrounding central Kentucky region.
- There is more than 1.7 million square feet of industrial space within 2 miles of the property, anchored by TG Kentucky, an automotive supplier, employing over 1,100 local residents.
- Located on the signalized corner of North Trimble Road and Park Avenue West with a combined traffic count of 32,474 VPD.
- The next closest Walgreens and CVS are more than 32 miles away.
- Located near Mansfield Senior High School, which enrolls approximately 825 students.
- The City of Mansfield is executing a phased streetscape and traffic flow improvement project in the downtown area.
- The property is the only Walgreens property in Van Buren and the only Walgreens north of the Arkansas River for over 7 miles.
- The property is located adjacent to the Interstate 40 and Fayetteville Road interchange, connecting Oklahoma City to the east and Little Rock to the west, with over 60,000 combined vehicles daily.
- Bekaert Corporation (2 miles east) and Simmons Foods, Inc. (2 miles south), both recently committed over $150 million to expand their manufacturing and distribution centers, adding permanent jobs to the market.
- Located 2.5 miles from the property, Baptist Health - Van Buren is the only major hospital in Van Buren with over 100 licensed beds.
- Under market rent with Walgreens paying $13.89 per square foot.
- Walgreens has been operating at this location since 2000 and in 2019 Walgreens restructured and extended its lease. In 2025, Walgreens renewed its next 5 year option as scheduled.
- The lease features 5% rental increases at each 5 year option period beginning in 2030.
- Located approximately 40 miles from Downtown Houston, the Houston MSA is the fifth-most populous metropolitan statistical area in the United States.
- Close proximity to Interstate 45, which connects Galveston to Houston and then to Dallas, with over 60,000 vehicles per day.
- 1.5 miles south of HCA Houston Healthcare Mainland, a 222-bed hospital.
- Walgreens is paying $12.22/SF which is significantly lower than the national average.
- Walgreens signed a 10-year lease extension in 2019 demonstrating their long-term commitment to the site.
- Located 2 miles East, Prospect Village is a new $375 million mixed-use project featuring retail, multi-family, hospitality, and sports complexes which will support the growth of the area.
- Freeman Hospital West (339 Beds), Freeman Hospital East (72 Beds), Landmark Hospital (28 Beds) and Mercy Hospital Joplin (191 Beds) are all located in a 3 Mile Radius of the Property.
- Located on the intersection of South Main Street and East 20th Street with over 27,000 VPD.
- Rite Aid is currently paying $9.45 /sf in rental rate, which aligns with the local retail rent of $9.50/sf.
- The subject property supports a rent-to-sales ratio of 1.35%.
- Rite Aid restructured its lease, effective November 1, 2023, to remain open and operational throughout the Chapter 11 proceedings.
- Rite Aid has two 5-year options to extend their lease, each with 10% rental increases.
- Rite Aid has operated successfully at this location since 1988, marking over 36 years of continuous operation.
Recently Sold Drugstores
- Located in an infill area on main retail corridor leading directly into Downtown Baton Rouge.
- Located on signalized SEC of Florida Blvd. & Lobdell Blvd. with a combined traffic count of ±77,903 VPD.
- Subject property is an outparcel to a 725,000 SF office park on 5.15 acres.
- Dense economic region with 7M square feet of retail space, 3M square feet of office space and 2,600 multi-family units within a 3-mile radius.
- Heavily trafficked intersection with traffic count of over 40,000 vehicles per day.
- Affluent neighborhood with about $140,000 household income within a 1-mile radius.
