955 21St St Newark, OH 43055
Property profile & analytics
955 21St St Newark, OH 43055
- Drug stores
- 10,242 SF
- 1.75 lot acres
Property ID
US66-0641719
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- CVS Photo / (Bike/Boat/Book/etc) Store
- MinuteClinic at CVS / Medical Clinic
- Redbox / Cinema / (Bike/Boat/Book/etc) Store
- MoneyGram / Bank / Credit Union
- CVS / Pharmacy
Property Details for 955 21St St
- Year built
- 1998
- Lot size
- 1.75 lot acres
- Property size
- 10,242 SF
- Property type
- Drug stores
- APN
- 054-259398-00.000
- APU
- 5425939800000
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,056,000
- AI Estimate
- $995,000
Market price range: $266k - $1.06MMarket price range: $310k - $996k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $740,000 Current use
- RESTAURANT
- $1,055,000 Change: +42% Conversion: Easy
- OFFICE BUILDING
- $980,000 Change: +32% Conversion: Easy
- COMMERCIAL (GENERAL)
- $830,000 Change: +12% Conversion: Easy
- AUTO REPAIR, GARAGE
- $815,000 Change: +10% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Licking
- State
- Ohio
- Longitude
- -82.4294
- Latitude
- 40.0742
- CBSA code
- 18140
- CBSA name
- COLUMBUS, OH METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$28,360
$336,880
$352,490
$689,370
-
$962,500
$1,007,100
$1,969,600
