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Investment Highlights

  • Long Term Lease
  • Investment Grade Credit
  • Zero Management Responsibilites
  • Strong Demographics

Executive Summary

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant, Absolute NNN leased CVS located at 1008 W Garfield Avenue in Bartonville, Illinois (the “Property”). CVS has been at the Property since 2000; they recast their lease in 2019 demonstrating their commitment to the site and the market by extending their lease through September 2039. CVS has 15+ years remaining on their lease with six (6), 5-year renewal options. The lease calls for 2.5% rent increases at the beginning of each renewal option period. The Property is situated on a highly visible corner parcel at the signalized intersection of S Lafayette Avenue and W Garfield Avenue, the area’s primary commercial and commuter corridor. CVS enjoys an excellent location in the center of Bartonville and is close to the town’s municipal offices, area schools, national and local retailers, businesses, entertainment, and amenities. The Property is 0.3-miles from Kroger, 0.6-miles from Aldi, and 3-miles from Peoria International Airport. Bartonville is located on the banks of the Illinois River and is 5.5-miles southwest of Downtown Peoria.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,113 SF
Building Class
C
Year Built
2000
Price
$4,694,589 CAD
Price Per SF
$464.21 CAD
Cap Rate
6.15%
NOI
$288,717 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.54 AC
Frontage
133’ on Garfield Ave

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
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100

Nearby Major Retailers

Kroger
Hometown Community Banks
First Mid Bank

Property Taxes

Property Taxes

Parcel Number
17/26/401/022
Land Assessment
$251,570 CAD
Improvements Assessment
$302,253 CAD
Total Assessment
$553,823 CAD
  • Listing ID: 31675425

  • Date on Market: 2024-05-02

  • Last Updated:

  • Address: 1008 W Garfield Ave, Bartonville, IL 61607

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