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CVS Pharmacy, Shepherdsville, KY

CVS Pharmacy

KY, USA

Price $7,014,500
Cap Rate
NOI
Lease Term 25 Years
Lease Type
Rental Increases 5% Rental Increases in Option Periods
Year Built 2016
Building Size 11,945 sq. ft.
Lot Size 1.69 (Acres) 73,616 sq. ft.
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

LONG-TERM NNN LEASE TO INVESTMENT GRADE TENANT
» Brand new 25-year lease with five five-year options
» Guaranteed by CVS Health Corporation, rated “BBB+” by Standard & Poor’s
» No landlord management, ideal for an out-of-area investor

LOCATED AT SIGNALIZED HARD CORNER WITH HIGH TRAFFIC COUNTS
» Excellent access and visibility to 35,661 vehicles per day at signalized, hard corner intersection
» Located just off of Interstate 65 – 83,200 AADT
» Interstate 65 is the major north-south transportation corridor in the region, carrying large amounts of tourist and commercial traffic
CLOSE PROXIMITY TO MAJOR EMPLOYERS AND NEW DEVELOPMENTS
» Located in downtown Shepherdsville near the Bullitt County public offices
» Close proximity to Cedar Grove Business Park, containing some of the region’s largest employers
» Near a 287-acre mixed-use development with industrial, commercial, and retail tenants
BRAND NEW 2016 CONSTRUCTION
» Built in 2016 to tenant’s exact specifications
» Features prescription drive-thru, providing convenience to customers

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located at the signalized hard corner of Highway 44 and Highway 61, with a combined traffic count of 35,661 vehicles per day at the intersection. Access to Interstate 65 is half a mile from the site. Interstate 65 is the main north-south transportation corridor in the area and boasts a traffic count of 83,200 vehicles per day. The property is located in downtown Shepherdsville, within walking distance of the Bullitt County public offices and multiple retailers, including Shepherd’s Crossing, anchored by Kroger and featuring major national tenants, including Cato, AT&T, Hibbett Sports, and Great Clips.

The site benefits from its close proximity to employment centers and new developments. Cedar Grove Business Park is approximately two miles from the property. The business park is home to the industrial, warehousing, and distribution operations of multiple major retailers, including Amazon; Best Buy; UPS, the largest employer in the Louisville MSA; and Zappos, Bullitt County’s largest employer. Additionally, Settlers Point Business Park is just over half a mile from the property. The 287-acre mixed-use development includes industrial, commercial, and retail tenants, including Walmart Supercenter and Lowe’s. Settlers Point Business park is still expanding; construction was recently completed on a 59,190 square foot retail center.

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