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    Maplewood CVS NNN Investment Opportunity Title is generated by Realmo AI

    2196 White Bear Ave, Maplewood, MN 55109

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    NNN leased CVS in a dense retail and residential area.

    Type:Retail
    Property size:
    15,108 SF
    Price / SF:
    $313/SF
    Added:
    Oct 28, 2024
    Days on Market:
    571
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 2196 White Bear Ave

    General Information

    Standard status
    Active
    Size
    15,108 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2005

    We can help!

    Listing Contact
    Cameron Cropsey

    Listing agent Cameron Cropsey License #MN 40555735

    Listing office Inventure Real Estate

    Listing date Oct 28, 2024

    Source Crexi

    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 Inventure Real Estate

    HighLights

    • Absolute NNN lease provides a completely hands‑off investment.
    • Investment grade tenant (CVS) rated Baa2 by Moody's.
    • Located in a dense residential and retail area with excellent real estate fundamentals.
    • High‑yield investment opportunity.
    • Located in the Minneapolis‑St. Paul MSA, a top 10 MSA nationally for population increase and per capita GDP.
    • Built in 2005.

    Overview

    The CVS property, situated at 2196 White Bear Avenue in Maplewood, MN, is available for sale. This property features an absolute NNN lease structure, presenting a hands-off investment opportunity with an investment-grade tenant holding a Baa2 rating from Moody's. The location benefits from its position within a densely populated residential and retail area, demonstrating strong real estate fundamentals. Several major retailers, including Target, Home Depot, Hy-vee, Menards, and Cub Foods, are located within a mile of the site. A medical clinic across the street provides a referral source for the pharmacy business. The property represents a high-yield investment opportunity within a submarket in Minnesota. The building has a property size of 15108 square feet. The Minneapolis-St. Paul MSA is ranked in the top 10 MSA's nationally over the last year for net natural increase in population and also ranks in the top 10 out of all the MSA's across the country in per capita GDP.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Liberty Oxygen and Medical Equipment — 1715 Beam Ave, Maplewood, MN 55109
    • Walgreens Pharmacy — 2920 White Bear Ave, Maplewood, MN 55109
    • Clay Funkhouser — 2920 White Bear Ave N, Maplewood, MN 551091304
    • Lisa Obrien — 2920 White Bear Ave NORTH, Maplewood, MN 551091304
    • Kofi Boadu-Mensah — 2920 White Bear Ave N, Maplewood, MN 551091304

    Location Insight

    • Map
    • Local Demand
    City
    Maplewood
    County
    Ramsey
    State
    Minnesota
    Longitude
    -93.0245933
    Latitude
    45.0069735

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      Maplewood Retail Property For Sale

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    FAQs

    What type of property is this?
    Drug store - NNN leased CVS in a dense retail and residential area.
    Where is this drug store located?
    The property is located at 2196 White Bear Ave Maplewood, MN.
    What is the asking price?
    The asking price for this property is $4,739,433.
    What are key features of this property?
    This property features: Absolute NNN lease provides a completely hands‑off investment.; Investment grade tenant (CVS) rated Baa2 by Moody's.; Located in a dense residential and retail area with excellent real estate fundamentals.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Cameron Cropsey
    Real Estate License ID: MN 40555735
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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