CVS Pharmacy NNN Property For Sale — Waukegan, IL · 11,414 SF
Waukegan, IL 60085
Single-tenant net leased CVS Pharmacy located within the Chicago MSA in Waukegan, Illinois. Operating successfully at this location since 2002, the property features a drive-thru pharmacy and an absolute NNN lease structure with zero landlord responsibilities. Notably, CVS has pre-paid rent through the end of the primary term (January 31, 2028), with 100% of the rent held in an escrow account to be drawn monthly, providing an exceptionally secure income stream backed by an investment-grade tenant (S&P: BBB+). The 11,414-square-foot building is prominently situated on a 1.32-acre corner parcel at the signalized intersection of Washington Street (27,000 VPD) and South Green Bay Road (24,800 VPD), surrounded by national retailers including Jewel-Osco, Walgreens, McDonald's, and Starbucks. Th…
- Address: Waukegan, IL 60085
- Asking price $4.63M
- 6.30% cap rate
- NOI $291,533
- 1.2 years remaining
- NNN lease
- Year built: 2002
- Building size: 11,414 SF
- Lot size: 1.32 acres
- Lease expiration: Jan 31, 2028
- Rent increases: Fixed at $291,532.68 for the first two 5-year options; rent for first two years of third 5-year option equals 101% of FMRV; remaining options equal 100% of FMRV
- Guarantor: Corporate
Location
This CVS Pharmacy property is in Waukegan, Illinois.
Asset type: Retail - Drugstore