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CVS Pharmacy 5801 Brooklyn Blvd

14,662 SF Retail Building Brooklyn Center, MN 55429 $6,243,000 ($426/SF) 5.65% Cap Rate

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Investment Highlights

Just Under 10 Years Remaining | Scheduled Rental Increases | Investment Grade Tenant | Well-Known & Established Brand
Dense Retail Corridor | Major Surrounding Shopping Centers | Strong Tenant Presence | Limited Competition | Crystal Airport
Signalized, Hard Corner Intersection | Centralized Location | Drive-Thru Equipped | Excellent Visibility & Access

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area

Executive Summary

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, corporate guaranteed, drive-thru equipped, CVS Pharmacy investment property located in Brooklyn Center, MN (Minneapolis - St. Paul MSA). The tenant, Grand St. Paul CVS, L.L.C., has just under 10 years of firm term remaining with 10 (5-year) option periods left to extend. The lease is guaranteed by the corporate entity (S&P: BBB | NYSE: CVS), and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. CVS is the largest pharmacy chain in the United States with more than 10,000 stores across all 50 states, District of Columbia, and Puerto Rico.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

14,662 SF

Building Class

Year Built

2005

Price

$6,243,000

Price Per SF

$426

Cap Rate

5.65%

NOI

$352,695

Tenancy

Single

Building Height

1 Story

Building FAR

0.22

Lot Size

1.53 AC

Zoning

PUD, C-2 - Planned Unit Development / Commerce

Parking

64 Spaces (4.37 Spaces per 1,000 SF Leased)

Frontage

522 FT on Brooklyn Blvd

Amenities

Bus Line

Signage

Drive Thru

Retailer
-
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CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.