CVS

Investment Overview

Investment Highlights

• Absolute Net Lease: ZERO landlord responsibilities.
• Long-Term Operating History: CVS has operated at the subject property since 1999, demonstrating more than 25 years of commitment to this established Norwalk location.
• Significant Rent Growth In First Renewal Option: Lease features ten (10), five-year renewal options, providing significant long-term occupancy potential, with a 20% rent increase in the first five-year renewal option.
• Established Retail Corridor: The property is positioned along Milan Avenue, one of Norwalk’s primary commercial corridors, with approximately 13,976 vehicles passing the site daily.
• Surrounded by National Retailers: The property benefits from proximity to a strong concentration of national retailers and restaurants including Walmart, ALDI, McDonald’s, Starbucks, Chipotle, Burger King, Wendy’s, Dunkin’, Tractor Supply Co., AutoZone, O’Reilly Auto Parts, Dollar Tree, Advance Auto Parts, T-Mobile, Cricket Wireless, KFC, Taco Bell, and more.
• Signalized Intersection: The property is strategically positioned near the signalized intersection of Milan Avenue and E. League Street, enhancing accessibility and visibility along the surrounding commercial corridor.
• Strong Surrounding Demographics: More than 27,600 residents live within five miles of the property, with an average household income of approximately $80,104 within the same radius.
• Strategic Norwalk Location: Located in the Huron County seat, the property benefits from Norwalk’s role as a regional commercial and service hub and its convenient access to the greater Sandusky and Lake Erie region.