235 E Cuyahoga Falls Avenue Akron, OH 44310

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

Listed by Craig Fuller · License #OH 2008001551

Source Crexi

Added: Apr 11 Updated: Jul 21 at 1:22AM Checked: Jul 21 at 6:13AM

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Investment Insights

Based on property information with market context.

This freestanding prototypical masonry CVS Pharmacy was built-to-suit in 1999 and includes a drive-through. The property is offered for sale as an income-producing retail asset with an in-place lease that has been extended for an additional 20-year period, leaving 19.25 years of base term remaining. Under the lease terms described, the landlord is responsible for roof and structure and common area maintenance with reimbursement for non-capital items, plus a five percent administrative fee from tenant. CVS is responsible for HVAC, self-maintains insurance, and pays taxes direct.

The location is along East Cuyahoga Falls Avenue, which is reported to carry 11,231 cars per day, with combined traffic of 22,744 at the nearby intersection of North Main Street. The property is approximately 0.9 miles from the exit ramps to Ohio State Route 8, reported at 106,649 cars per day. The site is in Akron’s North Hill neighborhood, about 1.5 miles north of Downtown Akron.

The lease is described as having a full corporate guaranty from CVS Health Corporation (NYSE: CVS), with S&P “BBB” investment grade credit rating.

Key Highlights

• 10,125 SF freestanding prototypical masonry CVS pharmacy built in 1999 on 1.17 acres, with drive‑thru
• Lease recently extended for an additional 20 years; 19.25 years of base term remaining
• Original 20‑year lease with full corporate guaranty from CVS Health Corporation (NYSE: CVS) with S&P BBB credit rating

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FAQs

What type of property is this?

Drug store - Freestanding prototypical masonry CVS pharmacy built in 1999 includes a drive-through and is leased to CVS with remaining base term.

Where is this drug store located?

The property is located at 235 E Cuyahoga Falls Avenue Akron, OH.

What are key features of this property?

This property features: 10,125 SF freestanding prototypical masonry CVS pharmacy built in 1999 on 1.17 acres, with drive‑thru; Lease recently extended for an additional 20 years; 19.25 years of base term remaining; Original 20‑year lease with full corporate guaranty from CVS Health Corporation (NYSE: CVS) with S&P BBB credit rating