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CVS Pharmacy

Danville, Illinois

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Marcus & Millichap is pleased to present the exclusive listing for a CVS Pharmacy located at 820 North Vermilion Street in Danville, IL.
This CVS is subject to a long-term, absolute triple-net (NNN) lease that was recently extended by 20 years. At closing, the rent will be $200,000 per year. From there, the rent is scheduled to increase by 5.00% at the start of the first and second option periods. The lease calls for a total of ten (10), five (5)-year tenant renewal options.

About the Investment:

✓ Long-Term, Absolute Triple-Net (NNN) Lease with 20+ Years Remaining on the Lease
✓ CVS Corporate Guaranty | Investment Grade Credit | “BBB” S&P Credit Rating
✓ Long Term Occupancy | The Tenant Has Been at This Location For Over 20+ Years
✓ Ten (10), Five (5)-Year Tenant Renewal Options

About the Location:

✓ Dense Urban Infill | Ross Dress for Less, Burlington, Planet Fitness, McDonald’s, Wendy’s, Taco Bell, Walgreens, and Many More
✓ Immediate Access to Healthcare | Less Than One Mile From OSF Sacred Heart Medical Center | 174 Staffed Beds
✓ Strong Academic Presence | Four Schools Within a Three-Mile Radius |Combined Enrollment is Greater Than 2,800 Students
✓ Highly Trafficked Area | More Than 26,500 Vehicles Per Day Along North Vermilion Street
✓ Strong Real Estate Fundamentals | Located Less Than Three Miles From Village Mall

About the Tenant/Brand:

✓ CVS Pharmacy is the Largest Pharmacy Chain in the United States with Over 9,900 and has the Highest Prescription Revenue
✓ CVS Pharmacy Also Provides Healthcare Services Through its More Than 1,100 MinuteClinic Medical Clinics as well as Their Diabetes Care Centers
✓ CVS is the #5 Company on the Fortune 500 with Current Revenues of More Than$256 Billion
✓ CVS Pharmacy Fills More Than 1.9 Billion Prescriptions Every Year

Key Details

Price:
$4,210,526
Cap Rate:
4.75%
Annual Rent:
$200,000
Address:
820 North Vermilion Street, Danville, Illinois 61832
Property Type:
Net-Leased Pharmacy
Lease Type:
Triple Net (NNN)

Lease Commencement:
July 1, 1999
Lease Expiration:
20 Years From Closing of Escrow
Lease Term Remaining:
20+ Years
Rental Increases:
5.00% Increase at the Start of the First & Second Tenant Renewal Period
Lot Size:
+/- 2.00 Acres
Building Size:
10,000 SF
Year Built:
1999
Tenant:
CVS Pharmacy

Broker of record

Steven Weinstock

License: 471.011175


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