Marcus & Millichap Real Estate Investment Services recently sold CVS, a 10,722-square-foot single-tenant net-leased property located in Trotwood, Ohio. The asset commanded a sales price of $1.95 million.
The buyer, a private investor based out of New York City, was secured and represented by Ray Germain, an investment specialist in Marcus & Millichap’s Las Vegas office. Michael Glass, broker, assisted in closing this transaction.
This property has more than 25 years remaining on its primary lease term. CVS recently renewed its lease and extended the term from four years to 25 years with five, five-year renewal options.
This is a proven location for CVS as evidenced by its recent extension and a superior rent-to-sales ratio. CVS has been at this location since 1996, and the recent extension solidifies CVS’ presence through 2037. Nearby retailers include Target, Home Depot, Lowe’s, Kmart and Burlington Coat Factory.
