Join Our Email List

x
Email Capture
Sending
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

Submit Your 1031 Exchange Requirements

x
1031 Exchange
Sending

CVS Pharmacy, Dover, OH

CVS Pharmacy

Dover, OH

Price $2,476,000
Cap Rate 5.25%
NOI $130,000
Lease Term 20 Years
Lease Type Absolute NNN, with Tenant Responsible for all Taxes, Insurance, Utilities, and Maintenance
Rental Increases CALL FOR DETAILS
Year Built 1999
Building Size 10,113 SF
Lot Size 1.66 Acres (72,440 SF)
Status Available
Lead Broker Information Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Florida-licensed real estate broker Cushman & Wakefield, Inc.

Investment Highlights

RARE ABSOLUTE NNN LEASE TO NATIONAL TENANT WITH STRONG FINANCIALS
» New 20-year lease extension at proven location with long history of tenancy
» Absolute NNN lease to investment grade tenant
» No landlord management, providing ideal investment for an out-of-area investor
» CVS rated “BBB” by Standard & Poor’s and is ranked seventh on the Fortune 500
» CVS is the largest retailer of prescription drugs in U.S. <BR» Record revenue of $184.8 billion in 2017
» CVS and its affiliates operate over 9,846 locations across the United States

HIGH-TRAFFIC LOCATION AT SIGNALIZED HARD CORNER
» Excellent visibility and access to 25,637 vehicles per day at the signalized intersection of Oxford Street and South Wooster Avenue
» Convenient access to Interstate 77 (42,470 AADT) and U.S. Highway 250 (21,534 AADT), two of the region’s major freeways

STRONG CUSTOMER BASE FOR PHARMACY SERVICES
» Directly adjacent to several medical offices
» Within walking distance of Union Hospital, a 148-bed hospital that is the centerpiece of a 25-acre medical campus
» Building features prescription drive-thru, providing additional customer convenience

CENTRAL LOCATION NEAR MAJOR SCHOOLS, EMPLOYERS, AND TOURIST ATTRACTIONS
» Less than half a mile from downtown Dover and just over two miles from downtown New Philadelphia
» Close proximity to several schools, including South Elementary School (428 students) and Dover High School (801 students)
» Near many of the region’s largest employers, such as Union Hospital (1,140 employees), Meteor Sealing Systems (328 employees), and Marlite (151 employees)
» Directly across from the site of the annual Tuscarawas County Fair, which has over 46,000 visitors per year

Click Here to Download Offering Memorandum


Property Description

The property is conveniently located at the signalized hard corner of Oxford Street and South Wooster Avenue, with excellent visibility and access to 25,637 vehicles per day directly in front of the property. Access points to two of the region’s major freeways—Interstate 77 (42,470 AADT) and U.S. Highway 250 (21,534 AADT)—are located nearby. The property is within minutes of several large shopping centers, featuring notable retailers like Walmart Supercenter, Tractor Supply, Big Lots, Giant Eagle Supermarkets, Aaron’s, and many more. Other major retailers near the property include MetroPCS, Taco Bell, America’s Mattress, and several car dealerships.

The property is centrally located less than half a mile from downtown Dover and just over two miles from downtown New Philadelphia. A number of schools are located near the property, including South Elementary School (428 students) and Dover High School (801 students). The property is also directly across from the Tuscarawas County Fairgrounds, home to the Tuscarawas County Fair, which has over 46,000 visitors per year. Several of the region’s largest employers are located near the property, including Meteor Sealing Systems (328 employees) and Marlite (151 employees). The property is also within walking distance of Union Hospital—a 148-bed hospital with 1,140 employees—and is adjacent to a number of medical offices, providing a strong customer base for the pharmacy’s prescription drug services.

Contact Us About This Property

Vince & Ryan Form
Sending
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link