Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    730 IN-32 Westfield, IN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    NNN leased CVS Pharmacy in Westfield, Indiana.

    Type:RETAIL
    Property size:
    14,866 SF
    Lot size:
    1.38 Acres
    Price / SF:
    $400/SF
    Added:
    Dec 30, 2024
    Days on Market:
    486
    Last Refresh:
    Apr 5 at 10:01 pm

    Property Features for 730 IN-32

    General Information

    Standard status
    Active
    Size
    14,866 SF
    Lot size
    1.38 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Kyle Zimmer
    Kyle Zimmer

    Listing agent Kyle Zimmer

    Listing office SRS Industrial - Newport Beach

    Listing date Dec 30, 2024

    Source Moodyscre

    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 SRS Industrial - Newport Beach

    Overview

    CVS Pharmacy Leasehold Investment

    This offering presents the opportunity to acquire the leasehold interest (building ownership) in an absolute NNN leased CVS Pharmacy investment property located in Westfield, Indiana, part of the Indianapolis MSA. The tenant has approximately 18 years remaining on the lease, with 4 (5-year) options to extend, demonstrating a commitment to the location. The lease structure is absolute NNN, assigning zero landlord responsibilities, making it a management-free investment opportunity. The lease incorporates 7.5% rental increases at the beginning of each option period. The property is 14866 square feet. CVS Pharmacy is a leading retail pharmacy with nearly 10,000 locations across 49 states.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Jovial Eyes — 227 dena dr c, westfield, in 46074
    • NICE-Xtracts CBD Health & Wellness — 17727 Commerce Dr Suite 200/300/400, Westfield, IN 46074
    • CVS — 730 IN-32, Westfield, IN 46074
    • CVS Pharmacy — 730 IN-32, Westfield, IN 46074

    Location Insight

    • Map
    • Local Demand
    City
    Westfield
    County
    Hamilton
    State
    Indiana
    Longitude
    -86.0428
    Latitude
    40.129

    Nearby Similar for Sale

    • $6,357,000
      11,275 SF

      New Retail Property with Lease

      New retail property with a 15-year lease and annual increases.
      17313 Spring Mill Rd, Westfield, IN
      View Details
    • Contact for pricing
      3,200 SF

      Westfield Restaurant Opportunity

      Restaurant property for sale in Westfield, Indiana.
      222 E 175th St, Westfield (Indianapolis MSA), IN 46074
      View Details
    • $3,574,545
      2,760 SF

      Westfield Retail NNN Investment Opportunity

      NNN retail property with long-term redevelopment potential in Westfield.
      965 E Tournament Trl, Westfield, IN 46074
      View Details
    • Contact for pricing

      Westfield Nest School For Sale

      New construction Nest School with a 15-year corporate lease.
      17313 Spring Mill Rd, Westfield, IN 46074
      View Details
    • $1,875,000
      5,160 SF

      Westfield Automotive Repair Shop Opportunity

      Auto repair shop on 1.58 acres in Westfield retail corridor.
      17534 Westfield Business Park Ct, Westfield, IN 46074
      View Details
    • $5,111,025
      3,028 SF

      Retail Space in Affluent Area

      Retail space for sale in a highly affluent area.
      1533 Chatham Commons Blvd, Westfield, IN 46074
      View Details
    • Contact for pricing

      Westfield Warehouse Opportunity

      Warehouse property for sale in Westfield, Indiana.
      20221 Grassy Branch Rd, Westfield, IN 46062
      View Details
    • Contact for pricing
      24,256 SF

      Westfield Industrial Buildings For Sale

      Two industrial buildings totaling 24,256 SF on 3.12 acres.
      502 IN-32, Westfield, IN
      View Details
    • Contact for pricing
      159,850 SF

      Westfield Warehouse Opportunity

      159,850 SF warehouse property in Westfield, Indiana.
      20221 Grassy Branch Rd, Westfield, IN
      View Details

    FAQs

    What type of property is this?
    Drug store - NNN leased CVS Pharmacy in Westfield, Indiana.
    Where is this drug store located?
    The property is located at 730 IN-32 Westfield, IN.
    What is the asking price?
    The asking price for this property is $5,950,000.
    What are key features of this property?
    This property features: Absolute NNN lease offers a management‑free, passive investment.; Approximately 18 years remaining on the lease term demonstrates tenant commitment.; CVS Pharmacy is a leading national retail pharmacy with nearly 10,000 locations.
    (949) 698-1100 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kyle Zimmer
    Kyle Zimmer
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!