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    1008 Garfield Ave Bartonville, IL 61607

    Sponsored
    For Sale
    $3,518,333

    High-yield, NNN-leased CVS Pharmacy

    Property size:
    10,113 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This exceptional investment opportunity presents a fee-simple ownership of a 10,113 square foot CVS Pharmacy in Bartonville, Illinois. The property, built in 2000 and situated on a 1.54-acre lot, boasts a highly visible corner location at the signalized intersection of S Lafayette Avenue and W Garfield Avenue, a primary commercial corridor. The Absolute NNN lease with CVS, the nation's largest retail pharmacy, commenced September 30, 2019, and extends to September 29, 2039, offering a substantial remaining lease term of approximately 14.9 years, with six 5-year renewal options and 2.5% rent increases at each renewal. The property generates a strong NOI of $211,100, representing a 6.00% cap rate on the asking price of $3,518,333. This investment-grade credit tenant, CVS Health (NYSE: CVS), provides significant financial stability and minimal management responsibilities. The property benefits from its proximity to other major retailers like Kroger and Aldi, as well as Peoria International Airport. The surrounding area has a strong demographic profile, with over 17,900 people within a 3-mile radius and an average household income exceeding $82,296. This presents a compelling opportunity for passive income generation with significant long-term growth potential.

    Property Features for 1008 Garfield Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,113 SF
    Lot Size
    67,082 SF

    Building Details

    Year Built
    2000
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 10,113 SF CVS Pharmacy on a 1.54‑acre lot, built in 2000.
    • Absolute NNN lease with CVS through September 2039, with six 5‑year renewal options and 2.5% annual rent increases.
    • $3,518,333 asking price, generating a $211,100 NOI and a 6.00% cap rate.
    • Investment‑grade credit tenant (CVS Health, NYSE: CVS) with minimal management responsibilities.
    • High‑visibility corner location at a signalized intersection in Bartonville, IL, near Kroger, Aldi, and Peoria International Airport.
    • Strong demographics: over 17,900 people within a 3‑mile radius with an average household income exceeding $82,296.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Bartonville
    County
    Peoria
    State
    Illinois
    Longitude
    -89.67032252
    Latitude
    40.64516701

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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 1008 Garfield Ave Bartonville, IL.
    What is the asking price?
    The asking price for this property is $3,518,333.
    What are key features of this property?
    This property features: 10,113 SF CVS Pharmacy on a 1.54-acre lot, built in 2000.; Absolute NNN lease with CVS through September 2039, with six 5-year renewal options and 2.5% annual rent increases.; $3,518,333 asking price, generating a $211,100 NOI and a 6.00% cap rate.
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    Bartonville, IL 61607
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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
    1008 Garfield Ave Bartonville, IL 61607
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