28700 Chardon Rd - Drug Store FOR SALE
Willoughby Hills, OH 44092 |
28700 Chardon Rd
Willoughby Hills, OH 44092
HIGHLIGHTS
- Rare offering of a fully triple net leased multi-tenant property that totals 17,204 square feet of space in Willoughby Hills, Ohio.
- 100% leased to CVS, which has been at the property since 2001 and has expressed a commitment to the location with a renewal through 2029.
- CVS lease is absolute triple net and requires zero management responsibility, making it an attractive fee simple investment acquisition.
- CVS, a publicly traded company, is an investment grade tenant with a rating of BBB and Baa2 with reported revenues of 357.8 billion in 2023.
- Asset boasts a premium strategic retail location just off Interstate 90 at a highly visible corner lot on a lighted intersection that sees 31,700 VPD.
- CVS has a term through January 2029 with 9, five-year renewal options with the property boasting current net operating income of $375,954.
FOR SALE DETAILS
PRICE
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CAP RATE
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% LEASED
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TENANCY
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BUILDING DETAILS
PROPERTY NAME
Absolute NNN CVS at Lighted Intersection
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
ADD'L SUBTYPES
Freestanding
TOTAL BUILDING SIZE
17204
STORIES
1
YEAR BUILT
1980
SPRINKLERS
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PARKING SPACES
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LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
31-A-008-D-00-072
