885 Oakwood Rd - Drug Store FOR SALE


Charleston, WV 25314
$5,142,658 USD
619-218-6427
885 Oakwood Rd, Charleston, WV for Sale
$5,142,658 USD
Drug Store - FOR SALE
1/3
null | 5.25% Cap Rate

885 Oakwood Rd
Charleston, WV 25314


HIGHLIGHTS

  • 16-Years Remaining on the 25-Year Absolute NNN Lease
  • Corporate Guarantee from CVS Health Corporation (NYSE: CVS)
  • Investment Grade Credit Tenant (S&P Rated: BBB)
  • Access to Signalized Intersection w/ Traffic Counts Exceeding 43,000 Vehicles Per Day
  • Dense Infill Location with 71,000 Residents in a 5-Mile Radius w/ Average Household Income Exceeding $86,000
  • Ideal 1031 Replacement Property (Zero Landlord Responsibility, Corporate Guarantee, 16-Years Remaining)

OVERVIEW

The subject property is a CVS Pharmacy drive-thru located in Charleston, West Virginia. There are 16-years remaining on the 25-year absolute NNN lease with zero landlord responsibilities, giving the new landlord $269,989.56 of guaranteed annual income for the next 16-years. The lease is guaranteed by CVS Health Corporation (NYSE: CVS) which has an investment grade credit rating from S&P of BBB. Located in a high-traffic retail corridor 1-mile from downtown Charleston, this CVS Pharmacy benefits from significant visibility and accessibility, with daily traffic counts of exceeding 43,000 vehicles per day on Highway 119 and Oakwood Drive. The surrounding area is densely populated with over 71,000 residents in a 5-mile radius and an average household income exceeding $86,000. National retailers in the immediate area include Outback Steakhouse, Wendy’s, Starbucks, Chase Bank, Truist Bank, First Watch, Walgreens, Kroger, Dunkin’ Donuts, and many more.

FOR SALE DETAILS

PRICE

$5,142,658 USD

PRICE/SF

$427 USD /SF

CAP RATE

5.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS Pharmacy | 16-Year Absolute NNN Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Fast Food, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,499 SF

ZONING

-

APN/PARCEL ID

09-11-00340000

ASK ABOUT THIS PROPERTY

John WertzWertz Real Estate Investment ServicesMore Info
619-218-6427

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John WertzWertz Real Estate Investment ServicesMore Info
619-218-6427

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.