2106 Brownsboro Rd Louisville, KY 40206

Listing agency Marcus & Millichap - Columbus s***@ipausa.com Show Phone

Listed by Craig Fuller · License #OH 2008001551

Source Crexi

Added: Apr 10 Updated: Jul 21 at 1:09AM Checked: Jul 21 at 1:09AM

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Investment Insights

Based on property information with market context.

This property is a freestanding CVS drugstore constructed in 1998. It is leased on an absolute triple-net basis with a corporately guaranteed lease by CVS Corporation. The offering reflects a remaining lease term of three and a half years, with eight, five-year option periods included in the lease structure.

The location is in Louisville, Kentucky, approximately three miles from downtown Louisville. The property is next door to a Kroger location and is down the street from McDonald’s and Speedway.

For investors, the lease includes multiple renewal options and is structured as an absolute NNN arrangement with a corporate guaranty, providing the foundation for the stated returns in the offering materials.

Key Highlights

• Freestanding CVS drugstore in Louisville, KY on an absolute NNN (triple‑net) lease with CVS Corporation corporate guarantee.
• Lease terms: 1998 construction; 20‑year absolute triple‑net lease put into effect and includes eight, five‑year option periods.
• Investors: priced at a 7.5% cap rate based on option rents; current rent higher than option rent with a stated 9.09% return based on current NOI.

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FAQs

What type of property is this?

Drug store - Freestanding CVS drugstore on an absolute triple-net lease with corporate guarantee from CVS Corporation.

Where is this drug store located?

The property is located at 2106 Brownsboro Rd Louisville, KY.

What are key features of this property?

This property features: Freestanding CVS drugstore in Louisville, KY on an absolute NNN (triple‑net) lease with CVS Corporation corporate guarantee.; Lease terms: 1998 construction; 20‑year absolute triple‑net lease put into effect and includes eight, five‑year option periods.; Investors: priced at a 7.5% cap rate based on option rents; current rent higher than option rent with a stated 9.09% return based on current NOI.