The Village, OK

Price: $ 5,629,671
CAP Rate: 7.00%
NOI: $ 394,077
Lease Term Remaining Before Options: 9 Years 8 Months
Investment Highlights
  • 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 Love’s 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.
Offering Summary

We are pleased to offer for sale the CVS Pharmacy property located at 9401 North Pennsylvania Avenue, The Village, OK 73120 (the "Property"). This offering provides a secure, passive investment opportunity featuring an absolute triple-net (NNN) lease with zero landlord responsibilities.  CVS has operated at this location since 2009 with a firm term through August 5, 2034 and ten (5-year) renewal options.

 

The Property is located in The Village, a suburb of Oklahoma City, with a population of approximately 191,000 residents within a five-mile radius. The Property is located approximately 2.5 miles west of McBride Orthopedic Hospital, a 68-bed specialty facility, and is surrounded by numerous other medical offices and providers including Community Hospital North, Thunder ION Saints Dermatology Surgery Center, Clear Choice Dental Implant Center, and Ameripath Diagnostic Laboratory.

 

Major employers in the market include Love’s Travel Stops & Country Stores (headquartered nearby with approximately 1,500 employees) and Integris Health, Oklahoma's largest locally owned health system whose headquarters are approximately 4 miles north of the Property. Retail and commercial space surrounding the Property totals approximately 835,000 square feet within a one-mile radius, anchored by major national retailers including Walmart, Ace Hardware, and Dollar General. Lake Hefner, a 2,500-acre recreational destination, is located approximately two miles west and serves as a significant leisure draw to the area.

Price: $ 5,629,671
CAP Rate: 7.00%
NOI: $ 394,077
Lease Term Remaining Before Options: 9 Years 8 Months