Wichita , Kansas
13,337 Sq. Ft.
First Vice President Investments
(201) 742-6119 | Email
- Zero Cashflow Structure with Assumable Self Amortizing Debt
- Absolute NNN Corporately Guaranteed Lease
- Investment Grade Tenant | BBB (S&P)
- Prime Real Estate | Located ½ Mile From Ascension Hospital (650 Beds)
- Long Term Lease | 19 Years Firm Term Remaining
- Strong Demographics | Over 227,000 People in Five Miles
- Excellent Visibility | 31,845 Vehicles Per Day
- Located on a Hard Corner Signalized Intersection
- Attractive Paydown Re-Advance Feature on Debt
The Iacono Team at Marcus and Millichap is pleased to exclusively present a fee simple CVS located in Wichita, KS. The property is subject to an absolute NNN lease with over 19 years firm term remaining. The debt is fully self-amortizing. The existing zero cashflow loan must be assumed and includes the attractive pay down re-advance feature. It is priced at 22% equity over the debt balance.
CVS Health Corporation is the nation’s premier healthcare services company and largest US pharmacy by total prescription revenue. The Company is headquartered in Woonsocket, RI and employs more than 295,000 people. In 2018, CVS announced a groundbreaking $70B merger with Aetna to create a first of its kind healthcare model designed to achieve true vertical integration. CVS retail stores feature thousands of items including organics and naturals, innovations in beauty and health, and healthier-for-you food choices. CVS Pharmacy is subsidiary of the American retail and health care company CVS Health. CVS Health is a pharmacy innovation company helping people on their path to better health.
The subject property is ideally positioned on a hard corner signalized intersection. The intersection is heavily trafficked with more than 31,845 combined vehicles per day. Prominent retailers surrounding the subject property include McDonald’s, Hardees, Subway, Wendy’s, Taco Bell, Big Lots, Burger King, Arby’s and many more. The property is uniquely positioned only one-half mile away from Wichita’s premiere hospital, Ascension Via Christi St. Joseph. Ascension is a full-service hospital with 24/7 emergency care. The hospital staffs a total of 650 beds, making it one of the largest hospitals in the area. Other traffic drivers in the area include numerous schools with more than 698 students and a retirement community with 198 units. Wichita is densely populated with more than 227,000 people residing within five miles of the subject property.