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    955 21St St Newark, OH 43055

    Sponsored
    For Sale
    $2,515,000

    High-yield, NNN-leased CVS pharmacy.

    Property size:
    10,242 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This fee-simple, 10,242 sq ft CVS Pharmacy in Newark, OH, presents a compelling investment opportunity. Boasting a 5.00% cap rate and a strong $125,730 NOI, this property benefits from a long-term, absolute NNN lease with a credit-rated tenant, CVS Pharmacy. Built in 1998 on a 1.75-acre lot, the property features a remaining lease term of 5.2 years with six 5-year renewal options remaining, and the tenant recently exercised a renewal in June 2024. The property enjoys a prime location at a signalized intersection with high daily traffic counts, surrounded by other national retailers. The location is further enhanced by its proximity to major state highways and a strong demographic profile within a 5-mile radius, including a high average household income. This location consistently outperforms other CVS locations nationwide, ranking in the top 40% nationally and top 19% in Ohio. The property is 100% occupied and offers a management-free investment opportunity with zero landlord responsibilities, as the tenant covers all CAM, taxes, and insurance. The property's strong performance, coupled with the long-term lease and corporate guarantee, makes it an attractive addition to any investment portfolio. The asking price is $2,515,000.

    Property Features for 955 21St St

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,242 SF
    Lot Size
    76,230 SF

    Building Details

    Year Built
    1998

    HighLights

    • Fee‑simple CVS Pharmacy investment opportunity in Newark, OH.
    • 10,242 sq ft building on a 1.75‑acre lot, built in 1998.
    • Strong $125,730 NOI and 5.00% cap rate.
    • Absolute NNN lease with credit‑rated tenant, CVS, with 5.2 years remaining and six 5‑year options; recently renewed June 2024.
    • Prime location at a signalized intersection with high traffic counts, near major highways, and strong demographics.
    • Top‑performing CVS location (top 40% nationally, top 19% in Ohio).
    Property Profile Location Intelligence

    Current Use by Public Records

    CVS Photo Passport Photo Processor MinuteClinic at CVS Walk-In Clinic Redbox Movie Rental Kiosk MoneyGram Money Transfer Service CVS Drug Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Licking
    State
    Ohio
    Longitude
    -82.4292491
    Latitude
    40.0742149

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    FAQs

    What type of property is this?
    Individual retail property - High-yield, NNN-leased CVS pharmacy.
    Where is this individual retail property located?
    The property is located at 955 21St St Newark, OH.
    What is the asking price?
    The asking price for this property is $2,515,000.
    What are key features of this property?
    This property features: Fee-simple CVS Pharmacy investment opportunity in Newark, OH.; 10,242 sq ft building on a 1.75-acre lot, built in 1998.; Strong $125,730 NOI and 5.00% cap rate.
    Request Owner's contact information
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    Newark, OH 43055
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    Realmo Value Estimation

    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.

    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.

    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
    955 21St St Newark, OH 43055
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