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10050 Woodland Dr 13,225 SF Retail Building Lenexa, KS 66220 $7,944,625 CAD ($600.73 CAD/SF) 7.69% Cap Rate
Investment Highlights
- LONG TERM LEASE (8.50 YEARS) Primary Term expires 1/31/2035. CVS has operated from this location since 2010.
- The lease is corporate guaranteed by CVS Health Corporation.
- STRONG DEMOGRAPHICS Average Household Income in a 1-mile radius is $198,646 in a population of 148,937 in a 5-mile radius.
- ABSOLUTE NET BOND LEASE No Landlord Responsibilities
- KANSAS CITY M.S.A. The second largest M.S.A. in Kansas with an estimated population of over 2.2 million residents.
- HIGH TRAFFIC COUNTS Approximately 15,000 Vehicles Per Day.
Executive Summary
RENT HOLIDAY: (2/2032 - 1/2035) - Seller to credit 100% of the future free rent period via US Treasuries at closing or cash equivalent ($1,000,000)
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,225 SF
Building Class
C
Year Built
2009
Price
$7,944,625 CAD
Price Per SF
$600.73 CAD
Cap Rate
7.69%
NOI
$611,271 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.63 AC
Zoning
Retail
Parking
68 Spaces (6.26 Spaces per 1,000 SF Leased)
Frontage
277’ on Woodland Rd
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, selling health products. The company expanded into pharmacy services in 1967 and was later acquired by Melville Corporation. Through strategic acquisitions like MinuteClinic and Caremark, CVS grew its healthcare services. The 2018 merger with Aetna made CVS Health a major player in insurance. Today, the company operates pharmacies nationwide, manages pharmacy benefits, and provides health insurance through various subsidiaries.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | IP23420000-0001 | Improvements Assessment | $676,791 CAD |
| Land Assessment | $484,724 CAD | Total Assessment | $1,161,515 CAD |
Property Taxes
Parcel Number
IP23420000-0001
Land Assessment
$484,724 CAD
Improvements Assessment
$676,791 CAD
Total Assessment
$1,161,515 CAD
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10050 Woodland Dr
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