505 W Main St Delphi, IN 46923

This exceptional investment opportunity presents a fee-simple ownership of a 10,722 square foot CVS Pharmacy located at 505 W Main St, Delphi, IN 46923. The property sits on a 1.37-acre lot and enjoys a prominent position on a major commercial thoroughfare in Carroll County. The single-story building is currently 100% occupied under a Net Lease (NNN) agreement with CVS Pharmacy, a highly reputable and financially stable national tenant. The lease commenced February 5, 1998, and has a remaining term of approximately 11.7 years, extending to July 30, 2036. Four, five-year lease options are included, with a 5% rent increase every five years on those options. The current asking price is $3,000,000, representing a price per square foot of $279.80 and a 5.00% cap rate based on a current Net Operating Income (NOI) of $150,000. This CVS Pharmacy is the only national drugstore within a 12-mile radius, serving the Delphi community. The landlord is responsible only for roof and structure maintenance. Nearby retailers include Dollar General, McDonald's, Subway, and Dairy Queen, indicating a strong commercial area. This is a rare opportunity to acquire a stable, long-term net lease investment with a dominant tenant in a desirable location.