Middleton, WI - CVS

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, CVS Pharmacy located in Middleton, Wisconsin (Madison MSA). The tenant has an investment grade credit rating (S&P: BBB) and nearly 9 years remaining with 10 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management- free investment opportunity for a passive investor. The asset can be purchased free and clear or with the assumption of the existing Credit Tenant Lease (CTL) zero cash flow financing, which also includes a paydown/readvance feature allowing 1031 investors to pull cash out from the transaction. CVS is America’s leading retail pharmacy with over 9,000 locations across 49 states.

The asset is strategically located at the signalized, hard corner intersection of Century Avenue and Allen Boulevard which supports more than 36,000 vehicles per
day. Furthermore, the site benefits from nearby access to State Highway 14 (60,500 VPD), University Avenue (30,700 VPD), and Airport Road (15,400 VPD), making this an ideal, centralized location with easy commutes. The subject property is within walking distance from the Monarch at Middleton Shores (42 units), the Lake
61 Apartments (65 units), the Springtree Apartments (272 units), and more. Directly adjacent to the property, the Haven at Middleton Shores is a 161-unit apartment community currently under construction and scheduled for delivery in 2027, providing a built-in residential consumer base to draw from. Moreover, the asset is located in a dense retail corridor and benefits from nearby access to multiple national/credit tenants including Costco, Target, Pfizer, Marshalls, Home Goods, Five Below, Ace Hardware, and more. The 5-mile subject trade area is supported by more than 125,000 residents and 6,000 daytime employees. Residents within a 1-mile radius boast extremely affluent average household incomes of more than $134,000.