For Sale
$2,513,540

8444 Pulaski RdChicago, IL 60652

High-yield CVS sublease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
125
This exceptional retail investment opportunity presents a fee-simple owned, 17,600 square foot convenience store in Chicago, IL. Located at 8444 South Pulaski Road, this single-story building boasts a strong investment-grade tenant (CVS, S&P: BBB) with an absolute NNN lease expiring January 31, 2032. The property features a substantial 1.2-acre parcel with ample parking (84 spaces) and excellent visibility on Pulaski Road (approx. 26,400 vehicles per day). The lease includes ten 5-year renewal options, providing long-term stability. The property benefits from a high population density (approx. 208,717 within a 5-mile radius) and proximity to public transportation (9 stations within 5 miles). The Chicago MSA, with a population exceeding 8.9 million, and its attraction to major corporations, further enhances the investment potential. This property offers a compelling combination of strong tenancy, long-term lease, and a prime location within a thriving market, making it an ideal addition to any portfolio. The asking price is $2,513,540, representing a 10% cap rate and a land value of $143 per square foot. The property's NOI is $251,352. The property is approximately 4.2 miles from Chicago Midway International Airport. Nearby amenities include schools and a shopping center.

Highlights

  • Investment-grade CVS tenant (S&P: BBB).
  • Fee-simple ownership with a triple-net (NNN) lease.
  • Over seven years remaining on the primary lease term.
  • Long-term lease with ten 5-year renewal options.
  • High visibility on Pulaski Road (approx. 26,400 vehicles per day).
  • 4.2 miles from Chicago Midway International Airport.

Property Details for 8444 Pulaski Rd

Property type
Retail properties, Grocery and convenience stores
Buildings
1
Stories
1

Location Insight

City
Chicago
County
Cook
State
Illinois
Latitude
41.7392691
Longitude
-87.7219652
8444 Pulaski Rd, Chicago, Illinois

FAQs

What type of property is this?
Retail property - High-yield CVS sublease, strong tenant.
Where is the retail property located?
The property is located at 8444 Pulaski Rd Chicago, IL.
What is the asking price?
The asking price for this property is $2,513,540.
What are key features of this property?
This property features: Investment-grade CVS tenant (S&P: BBB).; Fee-simple ownership with a triple-net (NNN) lease.; Over seven years remaining on the primary lease term.
How can I contact the broker?
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8444 Pulaski Rd
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