18351 119Th St Olathe, KS 66061

This exceptional investment opportunity presents a fee-simple interest in a freestanding Class A CVS HealthHub pharmacy located at 18351 W 119th St, Olathe, Kansas, 66061. The property, built in 2006, encompasses 11,000 square feet on a 1.5-acre lot and boasts a 100% occupancy rate. The single-tenant, net lease with CVS Pharmacy is a credit-rated, bondable NNN lease with a remaining term of approximately 7.4 years. The initial 25-year lease, commencing December 1, 2006, features a fixed annual rent of $360,312. Ten 5-year renewal options are included, with the first two at a fixed annual rent of $324,281 and the remaining eight at fair market value. The property benefits from its prime location in a densely populated, affluent Kansas City suburb, offering excellent visibility and strong traffic counts. The property's Net Operating Income (NOI) is $360,312, resulting in a 6.50% cap rate. This investment offers a compelling combination of a strong tenant, long-term lease, and attractive financial metrics. The property is situated in Johnson County, Kansas, within the Kansas City MSA. The average household income in the area is $99,475. This is a rare opportunity to acquire a high-quality, net-leased retail property with a nationally recognized tenant.