CVS Pharmacy | Minneapolis, MN

Posted 2 months ago by Brian Brisky, Brisky Net Lease / 86 views

  • Price : $8,229,600
  • Cap Rate : 6%
  • Net Operating Income : $493,776
  • Lease Type : CVS Pharmacy
  • Lease Term Remaining (Years) : 12
  • Building Size (SF) : 14,109
  • Year Built : 2008

A rare opportunity to invest in a very key CVS location within the Minneapolis market. CVS strategically consolidated some stores and funneled attention to this well located Minneapolis unit. Recently remodeled and enhanced, this urban location serves the vibrant Eat Street Neighborhood, just on the edge of Downtown. The hard corner location is on a high traffic, signalized intersection and features a drive-thru and rare off-street parking. This CVS has limited competition in close proximity, is strategically located near many medical facilities, and sits in a densely populated neighborhood. The Minneapolis-St. Paul MSA is home to nearly 4 million residents and is expected to continue to grow.

This “essential business” has a rock solid lease structure with 12 years remaining on a NNN condo basis. Rare “national drug store” rent bumps are offered in the option periods as well. In addition, since this is a condo location it offers lower ongoing tenant obligations, keeping the effective rent in check.

CVS Health is community-based and locally focused, engaging consumers with the care they need when and where they need it. The Company has approximately 9,900 retail locations, approximately 1,100 walk-in medical clinics, a leading pharmacy benefits manager with approximately 102 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year and expanding specialty pharmacy services.

Highlights
  • Lower Expenses Due to Condo Structure
  • Serves Basic Grocery Needs of Immediate Neighborhood, With Few Nearby Supermarkets
  • Only Mpls Drug Store Drive-Thru Within 5.9 miles – Only Drive-Thru Downtown
  • 2 Downtown CVS Locations Were Vacated In 2019 Helping Funnel Traffic to This Location
  • 3 Other Pharmacies Were Recently Bought Out by CVS In the Area to Drive Prescription Business to the Location
  • Recently Underwent an Extensive Enhancement Project

2001 Nicollet AvenueMinneapolis,Minnesota,55404

Brian Brisky
Brisky Net Lease

612-413-4200

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