CVS
17,204 SF | Retail Building | Willoughby Hills, OH 44092 | $3,759,543 ($219/SF) | 10% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,759,543
- Property Type
-
Retail
- Square Feet
- 17,204 SF
- Price / Square Foot
- $219
Listing Contacts
Robert Horvath
Verified Profile
Todd Tremblay
Verified Profile
Steven Schiavello
Verified Profile
- Property Info
Property Overview
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the Absolute NNN leased CVS located at 28700 Chardon Road in Willoughby Hills, Ohio (the “Property”). The Property consists of a 17,204 square foot building on a 1.47-acre parcel of land. CVS Leases the entire 17,204 square foot building occupying 10,125 square feet and subleasing two retail suites that total 7,079 square feet. The additional space is handled directly by CVS, and they have a sublease with Speed Cycle Express Laundromat and one vacant unit. CVS has been at the Property since 2001 and showed their commitment to the site by extending their lease through January 2029, leaving 4+ years of term remaining with nine (9), 5-year renewal options. The Property is situated on a highly visible corner parcel at the signalized intersection of Bishop Road and Chardon Road (US Route 6), two of the area’s primary commercial and commuter corridors. The Property benefits from outstanding frontage, two points of access and a drive-thru lane. CVS is seconds from the Shoppes at Willoughby Hills, a Grocery anchored shopping center, and is 0.4-miles from Interstate 90, and 1.3-miles from US Route 20, and 2-miles from Interstate 271. The Property is surrounded by densely populated residential neighborhoods, large apartment communities, and condominium complexes that provide a built-in customer base for CVS.
Property Details
- Class
- C
- Year Built/Renovated
- 1980/2020
- Stories
- 1
- Property Subtype
- Drug Store, Freestanding
- Lot Size (sq. ft)
- 64,033 SF
Highlights
- Long Term Tenant
- Zero Management Responsibilities
- Investment Grade Credit
- Strategic Retail Location
- High Traffic Counts
- Strong Demographics
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