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

    955 N 21St St Newark, OH 43055

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Long-term CVS lease with corporate guaranty in Newark, OH.

    Property size:
    10,242 SF
    Lot size:
    1.75 Acres

    Property Features for 955 N 21St St

    General Information

    Standard status
    Active
    Size
    10,242 SF
    Lot size
    1.75 Acres

    Building Details

    Year built
    1998

    We can help!

    Listing Contact
    Andrew Fallon
    Andrew Fallon
    Source: Crexi

    Listing Agency: SRS Real Estate Partners McLean Listing Agent: Andrew Fallon

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    CVS NNN Investment Opportunity

    This commercial property features a CVS location with a history of over 25 years of operation. The tenant, CVS Corporation, has an investment grade rating (S&P: BBB) and has demonstrated commitment to the site by recently exercising a 5-year option. The lease is corporate guaranteed. CVS is a leading retail pharmacy with approximately 216,000 employees and 10,000 locations. The property operates under an absolute NNN lease, making it a management-free investment with zero landlord responsibilities, as the tenant covers CAM, taxes, insurance, and all maintenance. The property is positioned at the signalized intersection of N. 21st St. & Meadowbrook Dr., with traffic averaging 32,800 vehicles per day. Its location benefits from the proximity to State Highway 16 (47,200 VPD) and State Highway 79 (31,000 VPD), providing accessibility. The surrounding area includes national retailers such as Walmart Supercenter, Kroger, and The Home Depot. The location is supported by over 73,000 residents and 34,000 employees within a 5-mile radius, with an average household income of $87,992. The property is located less than 40 minutes from Columbus, OH. According to Placer.io data, this CVS location ranks in the top 40% of all CVS stores nationwide and in the top 19% of all Ohio locations. The building size is 10,242 square feet. CVS added a minute clinic to this location in 2015.
    Location Intelligence

    Current Use by Public Records

    CVS Photo (Bike/Boat/Book/etc) Store MinuteClinic at CVS Medical Clinic Redbox Cinema MoneyGram Bank CVS Pharmacy

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Licking
    State
    Ohio
    Longitude
    -82.4291746
    Latitude
    40.0741024

    Nearby Similar for Sale

    • $129,900
      1,800 SF

      Downtown Newark Turn-Key Retail Business

      Profitable retail food business in a vibrant downtown location.
      4 N Park Pl, Newark, OH 43055
      View Details
    • New
      $450,000
      0.12 Acres

      Renovated Newark Quadplex Investment

      Fully occupied, renovated quadplex in Newark, offering immediate cash flow.
      311 Clinton St, Newark, OH 43055
      View Details
    • $315,000
      0.26 Acres

      Renovated Newark Duplex For Sale

      Fully renovated, side-by-side duplex with separate utilities and garage spaces.
      114-116 Maholm St, Newark, OH 43055
      View Details
    • $159,900
      0.08 Acres

      Newark Duplex with Income Potential

      Refreshed duplex in Newark, Ohio, ideal for investors.
      167 Essex St, Newark, OH 43055
      View Details
    • Contact for pricing

      Newark Office Space For Sale

      Customizable office space near Licking Memorial Hospital.
      336 North 40Th St, Newark, OH 43055
      View Details
    • $1,795,000

      Multi-Tenant Office Building Investment

      Fully leased office building with strong income and 8% CAP.
      195 Union St, Newark, OH 43055
      View Details
    • $2,500,000

      Retail Strip Center Investment Opportunity

      44,000 SF retail strip center anchored by Family Dollar.
      1012 Mount Vernon Rd, Newark, OH 43055
      View Details
    • $345,000

      Versatile Industrial Space in Newark

      8,464 SF industrial space with additional below-grade area.
      355 W Main St, Newark, OH 43055
      View Details
    • $2,750,000
      2,000 SF

      Retail Space on Deo Drive

      2,000 SF retail space with high visibility.
      238-305 Deo Dr, Newark, OH 43055
      View Details
    • $849,000

      Downtown Commercial Building with Parking

      10,650 SF commercial building with income and parking.
      55 W Church St, Newark, OH 43055
      View Details
    • Contact for pricing

      Former Bank Branch Office Space

      Two-story office building with underground parking in Newark's business district.
      42 N 3Rd St, Newark, OH 43055
      View Details
    • $1,231,430
      9,000 SF

      NNN Leased Family Dollar Store

      NNN leased Family Dollar with 9+ years remaining.
      189 W Main St, Newark, OH 43055
      View Details

    FAQs

    What type of property is this?
    Drug store - Long-term CVS lease with corporate guaranty in Newark, OH.
    Where is this drug store located?
    The property is located at 955 N 21St St Newark, OH.
    What are key features of this property?
    This property features: - Investment Grade Tenant (S&P: BBB) with Corporate Guaranty from CVS Corporation; - Absolute NNN Lease with Zero Landlord Responsibilities; - High-Performing CVS Location: Top 40% Nationwide, Top 19% in Ohio (per Placer.io)
    (202) 286-1542
    Request Owner's contact information
    955 N 21St St Newark, OH 43055
    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.
    955 N 21St St
    Newark, OH 43055
    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
    955 N 21St St Newark, OH 43055
    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

    We can help!
    Listing Contact
    Andrew Fallon
    Andrew Fallon
    Real Estate License ID: RSR006585
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!