CVS Bellevue Covered Land
1701 Galvin Rd S, Bellevue, NE 68005
For Sale
Contact for pricing
Prime location with redevelopment potential and stable income stream.
Property Size13,331 SF
Lot Size2.29 Acres
Price / SF$232.54
Days on Market265
Property Features for 1701 Galvin Rd S
General Information
Standard status
Size
Class
Lot size
Property subtype
Occupancy
Lease Type
Net Operating Income
Building Details
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License NE #701472
(859) 581-1113
Source:
Crexi
Added: Feb 18
Changed: Nov 8
Last Checked: Nov 8 at 7:30AM
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 Bang Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property at 1701 Galvin Rd S, Bellevue, NE 68005, presents a covered land investment opportunity. The property consists of a 13,331 square foot building on a 2.29-acre parcel. Constructed in 2010, the property is strategically located near Offutt Air Force Base and Bellevue East High School. The investment is secured by an Absolute Triple Net lease with a Corporate CVS guarantee, providing income during the remaining lease term. There are approximately 11 years of remaining lease term, including a 36-month free rent period. CVS has over 60 years of operating history and approximately $372 billion in annual revenue.
Key Highlights
- Absolute Triple Net lease with Corporate CVS guarantee provides stable, creditworthy income.
- Large ±2.29 AC parcel offers strong access, visibility, and future redevelopment potential.
- Net price of $3,332,184 with a 10.53% year 1 cap rate due to full rent credit for the 3‑year rent holiday.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$174,757
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,495,140
$3.5M
Cap Rate 7%
$2,496,529
$2.5M
Cap Rate 9%
$1,941,744
$1.9M
Market Conditions
NOI Build-Up for 13,331 SF
Gross rent
$244.8K $18.36/SF
− Vacancy
−$11.7K −$0.88/SF
EGI
$233.0K $17.48/SF
− OpEx
−$58.3K −$4.37/SF
NOI
$174.8K $13.11/SF
Area
Sarpy County, NE
Vacancy
4.80%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,495,140
Cap Rate 7%
$2,496,529
Cap Rate 9%
$1,941,744
Alternative Uses
Best Use
Specialty Retail
$2.50M
$2.18M – $2.91M
NOI $174,757 @ 7.0% cap · market cap 5.64%
Second Best
Retail
$2.34M
$2.05M – $2.73M
NOI $163,791 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$3.58M
$3.13M – $4.17M
NOI $250,421 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
96k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Groceries 16%
Shops & Services 13%
Home Improvements & Furnishings 5%
McDonald's
Dining
19,873 visits/mo
0.1 miles
Family Fare
Groceries
15,062 visits/mo
0.2 miles
Taco Bell
Dining
8,322 visits/mo
0.1 miles
Taco John's
Dining
7,095 visits/mo
0.2 miles
Scooter's Coffee
Dining
6,728 visits/mo
0.2 miles
Demographics for 68005, NE
23,236
Population
9,778
Households
2.4
Avg Household Size
37
Median Age
29%
College-Educated
92%
High-School Grad
18.7 sq mi
ZIP Area
1,243
Density / Sq Mi
$66,347
Median Household Income
$41,702
Median Earnings
$1,033
Median Rent
$193,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- COVID-19 Drive-Thru Testing at Walgreens — 1802 Galvin Rd S, Bellevue, NE 68005
- Walgreens Pharmacy — 1802 Galvin Rd S, Bellevue, NE 68005
- Alan Langpaul — 1802 Galvin Rd S, Bellevue, NE 680053813
- Michaela Tomsu — 1802 Galvin Rd S, Bellevue, NE 680053813
- John Tracy — 1802 Galvin Rd S, Bellevue, NE 680053813
Frequently Asked Questions
What type of property is this?
Drug store - Prime location with redevelopment potential and stable income stream.
Where is this drug store located?
The property is located at 1701 Galvin Rd S Bellevue, NE.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Absolute Triple Net lease with Corporate CVS guarantee provides stable, creditworthy income.; Large ±2.29 AC parcel offers strong access, visibility, and future redevelopment potential.; Net price of $3,332,184 with a 10.53% year 1 cap rate due to full rent credit for the 3‑year rent holiday.**
