CVS Pharmacy Drug
New
For Sale
Contact for pricing
3499 Clime Rd, Columbus, OH 43223
Absolute NNN lease extends through January 2033 with scheduled 5% increases every five years.
Property Size10,113 SF
Price / SF$177.20
Days on Market6
Property Features for 3499 Clime Rd
General Information
Standard status
Active
Size
10,113 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$112,000
Additional Details
Corner Location
Yes
Building Details
Year Built
1999
Buildings
1
Tenancy
Single
Listing Agency:
Atlantic Capital Partners
(704) 375-7771
Listed By:
Eric Suffoletto · License #MA 9577141
Source:
Crexi
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 7:41PM
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 Atlantic Capital Partners
Investment Insights
Based on property information with market context.
The 10,113-square-foot drug store was built in 1999 and is occupied by CVS Health Corporation under an absolute NNN lease. CVS has operated at the property since 1999, establishing more than 25 years of continuous occupancy. The lease runs through January 2033 and includes scheduled 5% rental increases every five years during the primary term and renewal options.
The property occupies a signalized corner on Clime Road in the Columbus MSA. Its established infill setting and visibility support the existing retail use. The lease structure places ongoing property management responsibilities with the tenant while retaining contractual growth provisions over the lease term and options.
The property occupies a signalized corner on Clime Road in the Columbus MSA. Its established infill setting and visibility support the existing retail use. The lease structure places ongoing property management responsibilities with the tenant while retaining contractual growth provisions over the lease term and options.
Key Highlights
- 10,113‑square‑foot drug store built in 1999
- Absolute NNN lease to CVS Health Corporation
- Lease extends through January 2033
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
$135,433
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
7.56%
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%
$2,708,660
$2.7M
Cap Rate 7%
$1,934,757
$1.9M
Cap Rate 9%
$1,504,811
$1.5M
Market Conditions
NOI Build-Up for 10,113 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
$194.2K $19.20/SF
− Vacancy
−$13.6K −$1.34/SF
EGI
$180.6K $17.86/SF
− OpEx
−$45.1K −$4.46/SF
NOI
$135.4K $13.39/SF
Area
Columbus, OH
Vacancy
7.00%
Lease Rate
$19.20 /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%
$2,708,660
Cap Rate 7%
$1,934,757
Cap Rate 9%
$1,504,811
Alternative Uses
Best Use
Specialty Retail
$1.93M
$1.69M – $2.26M
NOI $135,433 @ 7.0% cap · market cap 7.56%
Second Best
Retail
$1.67M
$1.46M – $1.94M
NOI $116,593 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$2.11M
$1.84M – $2.46M
NOI $147,532 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 43223, OH
27,951
Population
10,662
Households
2.6
Avg Household Size
35
Median Age
11%
College-Educated
77%
High-School Grad
10.0 sq mi
ZIP Area
2,795
Density / Sq Mi
$45,902
Median Household Income
$32,509
Median Earnings
$1,063
Median Rent
$113,600
Median Home Value
Market
Vacancy Rate% for Retail in Columbus, OH
Questions? Ask Rey
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Similar Off Market Nearby
- CVS Pharmacy — 3499 Clime Rd, Columbus, OH 43223
- Chelsey Spiller — 3499 Clime Rd, Columbus, OH 432233440
- Walgreens Pharmacy — 1280 Demorest Rd, Columbus, OH 43204
- Amanda Shaw — 1280 Demorest Rd, Columbus, OH 432047003
- John Sohn — 1280 Demorest Rd, Columbus, OH 432047003
Frequently Asked Questions
What type of property is this?
Drug store - Absolute NNN lease extends through January 2033 with scheduled 5% increases every five years.
Where is this drug store located?
The property is located at 3499 Clime Rd Columbus, OH.
What is the asking price?
The asking price for this property is $1,792,000.
What are key features of this property?
This property features: 10,113‑square‑foot drug store built in 1999; Absolute NNN lease to CVS Health Corporation; Lease extends through January 2033
