April 27, 2022 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of a “Dark” CVS Pharmacy in Olathe, Kansas. Horvath & Tremblay exclusively represented the seller in this transaction at a sale price of $2,706,583.
CVS Pharmacy is located at 2011 East Santa Fe Street in Olathe, Kansas. CVS has been at this location since it was constructed in 2006 and has approximately 9 years remaining on their long term Absolute NNN Lease with ten (10), 5-year renewal options. The Property is currently Dark and CVS continues to pay rent per the terms of their lease. The Property was sold with assumable, self-amortizing debt in place (Zero Cash Flow). The Property provides the opportunity to generate passive losses that work to offset passive income from other investments. CVS is situated in an excellent trade area as a pad site at the Crossroads Shopping Center in Olathe, in a busy mixed-use retail, commercial and residential area. The location benefits from its proximity and ease of access to Exit 218 on Interstate 35, as well as from the presence of a number of national tenants that form the East Santa Fe Street retail corridor. Olathe is the 4th largest city in the state of Kansas, and is located 20 miles southwest of Kansas City.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.