CVS Leasehold NNN
For Sale
Contact for pricing
1211 W Roosevelt Rd, Chicago, IL 60608
Single-tenant pharmacy leasehold with an absolute net lease structure.
Property Size14,033 SF
Price / SF$201.63
Days on Market163
Property Features for 1211 W Roosevelt Rd
General Information
Standard status
Active
Size
14,033 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$311,246
Building Details
Year Built
2010
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Northmarq Capital, LLC
Listed By:
Mark Grossman · License #OK 184615
Source:
Crexi
Added: Mar 23
Changed: Aug 29
Last Checked: Aug 29 at 7:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Northmarq Capital, LLC
Investment Insights
Based on property information with market context.
This 14,033-square-foot leasehold interest is associated with a single-tenant CVS Pharmacy in Chicago, Illinois. Constructed in 2010, the property is subject to an absolute net lease structure, with no landlord responsibilities identified in the property information.
The asset is located at 1211 W Roosevelt Rd, Chicago, IL 60608. The surrounding 3-mile area includes more than 450,000 residents and reports an average household income exceeding $153,000.
The asset is located at 1211 W Roosevelt Rd, Chicago, IL 60608. The surrounding 3-mile area includes more than 450,000 residents and reports an average household income exceeding $153,000.
Key Highlights
- 14,033‑square‑foot CVS Pharmacy leasehold interest
- Single‑tenant retail pharmacy property
- Absolute net lease structure
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$194,144
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,882,880
$3.9M
Cap Rate 7%
$2,773,486
$2.8M
Cap Rate 9%
$2,157,156
$2.2M
Market Conditions
NOI Build-Up for 14,033 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$303.1K $21.60/SF
− Vacancy
−$25.8K −$1.84/SF
EGI
$277.3K $19.76/SF
− OpEx
−$83.2K −$5.93/SF
NOI
$194.1K $13.83/SF
Area
Chicago, IL
Vacancy
8.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,882,880
Cap Rate 7%
$2,773,486
Cap Rate 9%
$2,157,156
Alternative Uses
Best Use
Specialty Retail
$3.73M
$3.26M – $4.35M
NOI $261,182 @ 7.0% cap · market cap 9.23%
Second Best
Retail
$2.77M
$2.43M – $3.24M
NOI $194,144 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$6.62M
$5.79M – $7.72M
NOI $463,156 @ 7.0% cap · market cap 16.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,863
Businesses Nearby
58k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 40%
Beauty & Spa 4%
Chase Bank
Shops & Services
10,372 visits/mo
0.2 miles
Al's Italian Beef
Dining
7,047 visits/mo
0.2 miles
7-Eleven
Shops & Services
5,969 visits/mo
0.5 miles
Potbelly Sandwich Shop
Dining
5,569 visits/mo
0.5 miles
Starbucks
Dining
5,037 visits/mo
0.5 miles
Demographics for 60608, IL
75,770
Population
32,617
Households
2.3
Avg Household Size
34
Median Age
34%
College-Educated
77%
High-School Grad
6.2 sq mi
ZIP Area
12,221
Density / Sq Mi
$70,704
Median Household Income
$42,211
Median Earnings
$1,208
Median Rent
$341,500
Median Home Value
Market
Vacancy Rate% for Retail in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant pharmacy leasehold with an absolute net lease structure.
Where is this nnn property located?
The property is located at 1211 W Roosevelt Rd Chicago, IL.
What is the asking price?
The asking price for this property is $2,829,510.
What are key features of this property?
This property features: 14,033‑square‑foot CVS Pharmacy leasehold interest; Single‑tenant retail pharmacy property; Absolute net lease structure
