CVS Absolute NNN
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For Sale
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3200 Flossmoor Road, Flossmoor, IL 60422
A CVS retail location built in 2007 is offered with an absolute NNN lease structure.
Property Size13,225 SF
Price / SF$399.03
Days on Market7
Property Features for 3200 Flossmoor Road
General Information
Standard status
Active
Size
13,225 SF
Property subtype
Retail
Net Operating Income
$369,400
Additional Details
Cap Rate
7%
Building Details
Year Built
2007
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Christian Becker · License #794055
Source:
Crexi
Added: Aug 10
Changed: Aug 15
Last Checked: Aug 15 at 7:59AM
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 Matthews
Investment Insights
Based on property information with market context.
This CVS retail property at 3200 Flossmoor Road in Flossmoor, Illinois, contains 13,225 square feet and was constructed in 2007. The asset is being offered for sale with an absolute NNN lease structure, placing it within the NNN property category.
The property carries a 7% cap rate and includes a guarantee identified with the CVS tenancy. Its address places the asset in a Chicago suburb, providing a defined suburban retail setting for this single-tenant commercial property.
The property carries a 7% cap rate and includes a guarantee identified with the CVS tenancy. Its address places the asset in a Chicago suburb, providing a defined suburban retail setting for this single-tenant commercial property.
Key Highlights
- CVS retail property with absolute NNN lease structure
- 13,225‑square‑foot building constructed in 2007
- 7% cap rate
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
$221,387
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
4.20%
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%
$4,427,740
$4.4M
Cap Rate 7%
$3,162,671
$3.2M
Cap Rate 9%
$2,459,856
$2.5M
Market Conditions
NOI Build-Up for 13,225 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
$317.4K $24.00/SF
− Vacancy
−$22.2K −$1.68/SF
EGI
$295.2K $22.32/SF
− OpEx
−$73.8K −$5.58/SF
NOI
$221.4K $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,427,740
Cap Rate 7%
$3,162,671
Cap Rate 9%
$2,459,856
Alternative Uses
Best Use
Specialty Retail
$3.16M
$2.77M – $3.69M
NOI $221,387 @ 7.0% cap · market cap 4.20%
Second Best
Retail
$2.62M
$2.29M – $3.06M
NOI $183,565 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$4.57M
$4.00M – $5.33M
NOI $319,619 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Dining 15%
Quick Mart
Shops & Services
2,192 visits/mo
0.3 miles
Valentino's
Dining
396 visits/mo
0.1 miles
Demographics for 60422, IL
9,927
Population
3,894
Households
2.5
Avg Household Size
45
Median Age
67%
College-Educated
99%
High-School Grad
4.0 sq mi
ZIP Area
2,482
Density / Sq Mi
$134,728
Median Household Income
$80,123
Median Earnings
$2,191
Median Rent
$304,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - A CVS retail location built in 2007 is offered with an absolute NNN lease structure.
Where is this nnn property located?
The property is located at 3200 Flossmoor Road Flossmoor, IL.
What is the asking price?
The asking price for this property is $5,277,143.
What are key features of this property?
This property features: CVS retail property with absolute NNN lease structure; 13,225‑square‑foot building constructed in 2007; 7% cap rate
