100 N Detroit St - Drug Store FOR SALE
Warsaw, IN 46580 |
100 N Detroit St
Warsaw, IN 46580
HIGHLIGHTS
- CVS Health, the corporate guarantor of this lease, is the only investment grade credit tenant pharmacy (BBB rating from Standard & Poor's)
- CVS has been operating in this location for more than 28 years and has a strong sales history that surpassed $19M in 2023
- CVS has recommitted to this location by renewing their lease early for an additional 10 years (thru 2034) plus 3 x 5yr. options with rental increases
- Low rent at $13.93 per square foot, low price point, historically high sales, and located at a signalized intersection with great visibility
- 50% of the roof was replaced in August of ’23 and has a 20yr manufacturer warranty in place
- CVS’ lease structure offers a passive ownership opportunity with minimal landlord responsibilities and tenant reimbursing or paying expenses directly
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
-
BUILDING DETAILS
PROPERTY NAME
CVS | Warsaw IN
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
ADD'L SUBTYPES
Freestanding
TOTAL BUILDING SIZE
10908
STORIES
1
YEAR BUILT
1995
SPRINKLERS
-
PARKING SPACES
32
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
43-11-08-200-927.000-032
