• An Award Winning Net Lease & Retail Commercial Real Estate Group

CVS 15 Year Lease – Adjacent to College Campus and Hospital

311 Park Ave, Youngstown, OH 44504, USA
$5,320,945

Description

Marcus & Millichap is pleased to present for sale this 11,945 square foot freestanding CVS Pharmacy located at 311 Park Avenue in Younstown, Ohio. This CVS has more than 15 years remaining on the base term of its lease, with five percent increases in each of the five five-year option periods.
Located at the signalized intersection of 5th Avenue and Westbound Service Road, this CVS has exposure to more than 2,129 vehicles per day and benefits from over 133,294 full time residences with a house hold income exceeding $47,181 annually.
This CVS Pharmacy also benefits from Youngstown State University, across the street, with 11,386 students enrolled and two minute walk from MerciHealth, Saint Elizabeth Medical Center and Campus founded in 1868, counts 268 staffed beds and an average of more than 95,000 patients yearly.
There are numerous national and regional retailers surrounding the area including Sunoco, McDonald’s, Taco Bell, Subway, Jimmy John’s and Chase bank among others.
CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods through their CVS Pharmacy and Longs Drugs retail stores and online through CVS.com. It also provides healthcare services through its more than 1,100 MinuteClinic medical clinics as well as their Diabetes Care Centers. Most of these clinics are located within CVS stores.

  • Guaranteed by CVS Corporate (NYSE:CVS) S&P Rated BBB+
  • More than 15 Years Remaining in Initial 25-Year Term
  • Dense Population — 133,294 Full Time Resident in Trade Area
  • House Hold income Exceeding $47,181 in the Market Area
  • Across the Street from Youngstown State University, with 11,386 Students Enrolled
  • Located at a the Signalized Intersection with Exposure to More than 12,129 Vehicles Per Day
  • 2 Minute Walk to MerciHealth, St. Elizabeth Medical Center and Campus (268 beds, Average Yearly Patients – 95,000+)
  • Full Service Drive-Thru Window

Property Documents

  • City: Youngstown
  • State/county: Ohio
  • Zip/Postal Code: 44504
  • Country: United States

Detail

  • Price: $5,320,945

Additional details

  • CAP Rate: 5.50%
  • NOI: $292,653

Features