- The lease allows for approximately five percent (5%) increases every five years in the option periods.
- In 2018, CVS signed a 10 year lease for $11.42 per square foot.
- CVS acquired the drugstore chain Sav-on in 2018. Of the 22 Sav-ons in the Detroit market, they decided to keep 10 of the higher performing locations, including this location in Romulus.
- Only major drugstore within a 4 mile radius.
- The property is located in the heart of Romulus, approximately 23 miles southwest of downtown Detroit and in Wayne County, the most populated county in the Detroit Metropolitan Statistical Area (MSA) which has over 4.4 million residents.
CVS for Sale properties
- This CVS lease has over 9 years guaranteed rent before the next option with no rent holiday.
- The lease has 5% rental increases at the first 2 (5-year) options.
- Approximately 2.5 miles southeast of McBride Orthopedic Hospital (68 beds). Additional healthcare providers in this market include Community Hospital North, Thunder ION Saints Dermatology Surgery Center, ClearChoice Dental Implant Center, and Ameripath Diagnostic Laboratory.
- Casady School, located adjacent to the property, enrolls approximately 1,020 students in pre kindergarten through the 12th grade.
- Nearby major employers include Loveās Travel Stops & Country Stores Headquarter (1,500 employees) and Integris Health.
- Approximately 835,000 square feet of commercial space within a one-mile radius, anchored by Walmart and other national retailers.
- This CVS lease has no rent holiday featured and has over 9 years of guaranteed rent before the next option.
- Starting in 2035 there is a 10% increase and then 10% increases at each of the 8 (5 year) options.
- Located in a high-income trade area with the average household income exceeding $102,000 within a 1 and 3-mile radius.
- This store ranks in the top 30% of foot traffic per Placer. Ai, for all CVS stores in the state of Illinois.
- Subject property is located in a dense infill location in Chicago with over 332,000 households with an average household income of over $102,000 within a five-mile radius.
- Located in a densely populated area of the Chicago MSA which has a population of over 9.4 million people and is the third largest MSA in the United States.
- Situated across the intersection from Community First Medical Center, which has 299 licensed beds.
- This CVS lease has over 9 years guaranteed lease term before the tenantās next option to renew.
- The current lease runs through November 30, 2034, with a two-year rent holiday period at the end of the primary term. The lease includes ten (5-year) renewal options, with 5% rental increases at the first and second option and a 10.29% increase in 2029.
- Located in a high-income trade area with the average household income exceeding $102,000 within a 1 and 3-mile radius.
- The property is positioned adjacent to HCA Florida Millhopper Emergency Center with several other medical facilities in the immediate surrounding area, including Hunters Crossing Memory Care, Brooks Rehabilitation Home Health, and LCS Occupational Therapy.
- CVS is positioned on a signalized corner surrounded by numerous complementary retail tenants, including the Hunters Crossing shopping center anchored by Publix and Ace Hardware.
- This CVS lease has over 12 years guaranteed rent before the next option with no rent holiday.
- CVS is positioned on a hard corner along Chester Pike / U.S. Route 13 which is a main commercial thoroughfare running south from Philadelphia to Northern Delaware.
- CVS has been operating at this location for 25 years and in 2018 committed to a 20-year extension, showing their commitment to this site.
- Approximately 120,000 residents within a 3-mile radius and average household incomes of over $92,000.
- Interboro High School, with over 1,000 students, is located approximately one mile north of the property.
- This CVS lease has no rent holiday featured and has over 11 years of guaranteed rent before the next option.
- The lease has 10% rental increases at the first 2 (5 year) options.
- CVS is responsible for all of the building and property expenses.
- Located approximately 2.2 miles from Texas A&M UniversityāCorpus Christi, with 10,855 students and employing over 700 faculty and staff.
- Close proximity to Naval Air Station Corpus Christi, the largest employer in the area, providing approximately 5,525 civilian jobs, primarily in flight training operations.
- Positioned along South Alameda Street with visibility to over 36,000 vehicles per day, serving over 193,000 residents within a five-mile radius.
- Close to major hospitals, including Corpus Christi Medical Center-Doctors Regional (250 beds, 0.5 miles), Driscoll Childrenās Hospital (225 beds, 0.6 miles), CHRISTUS Spohn HospitalāShoreline (549 beds, 2.5 miles), and CHRISTUS Spohn HospitalāSouth (158 beds, 3.6 miles).
- 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.
- 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).
- Ā±172,000 residents in a 5-Mile radius with an Average Household Income of Ā±$130,000 within 1-Mile.
- 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 Ā±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.
