CVS - Noblesville, IN

14575 Mundy Dr Noblesville , IN 46060-7224

CVS - Noblesville, IN - Retail for sale

Overview


JLL is pleased to offer for sale an absolute NNN-leased CVS (the Property), located in Noblesville, Indiana. With nearly 17 years of firm term remaining to an investment-grade tenant and zero landlord responsibilities, the offering represents an exceptional passive investment opportunity. The Property is situated on a hard corner of a busy intersection, which has an average daily vehicle count exceeding 60,000 over the two highways. The immediate area has witnessed an inflow of investment into the healthcare sector, from the new St. Vincent Neighborhood Hospital directly across the street to the state-of-the-art Community Health Pavilion just to the east. Noblesville is a suburb of Indianapolis, and the Property sits only 0.5-mile north of Fishers, which was named the No. 1 Best Place to Live in the U.S. by Money Magazine (2017). With energy and momentum cited as factors, as well as safety and school quality, the Property is in a prime location that is growing in vibrancy.

Investment Highlights


-Absolute NNN Lease with Nearly 17 Years of Initial Term
-Strategic Healthcare Hub Location
-Strong Credit Tenancy
-Highly Visible, Hard Corner Outparcel
-Healthy Demographics & Quality of Living
General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 14575 Mundy Dr, Noblesville, IN 46060-7224
Land In Acres 1.57
Building Size 1  ft2
Financial
Price $10,245,000
Cap Rate 5.15%
Current NOI $527,534.00
Lease
Tenant's Name CVS Caremark Corporation
Credit Rating (S&P) BBB
Lease Type NNN
Lease Expiration Date 01/31/2035
Remaining Term 15.8Yrs