10490 Shelbyville Road - CVS

10490 Shelbyville Rd Louisville , KY 40223

10490 Shelbyville Road - CVS - retail for sale

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Overview



CVS Pharmacy for sale in Louisville, Kentucky. Located at a prominent, hard-corner, signalized intersection in a dense retail corridor with over 1 million square feet of retail space within 1 mile of the asset. National retailers in the vicinity include Lowe’s, Barnes & Noble, Bonefish Grill, and Carraba’s Italian Grill. Set in an affluent area with 195,000 residents with an average household income over $102,000 within a 5-mile radius.

Investment highlights


  • Rare fee simple interest in a CVS
  • Property features an absolute NNN lease structure, with a recently extended primary 20-year term
  • Ownership is selling the ground interest as well as the leasehold interest
  • Future ownership will have the option of selling one or both off to reduce their overall basis
  • Corporate guarantee from an investment grade tenant and the largest U.S. pharmacy by total prescription revenue
General
Property type Retail
Tenure type Sale/Purchase
Property address 10490 Shelbyville Rd, Louisville, KY 40223-3120
Land in acres 1.2
Building size 9,750  ft2
Year built 2007
Financial
Price $4,510,000
Cap rate 5.10%
Current NOI $230,000.00
Lease
Tenant's name CVS Health
Credit rating (S&P) BBB
Lease type NNN
Annual rent $230,000.00
Lease expiration date 12/31/2038
Remaining term 19.3Yrs

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