loader
Join Free
Views: 145 Updated: 09.27.24 Posted: 07.22.23 Status: Inactive 10.10.24

Summary

Price $10,209,524
Built/Renov 2023
Tenant CVS Pharmacy
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,698
Lease Start 11-01-2023
#Units 9,395
Price/SF $694.62
Expiration 11-01-2048
Tenant Type Pharmacy
NOI $536,000
R. Term 23.10
Ownership Fee Simple
Rent/SF $36.47
Increases 10.0%/5/yrs
Pop 5Mi 158,568
Lot/AC 2.51
Options 6/5yrs/10%
AHHI 5Mi $110,004

Lease Highlights

  • Brand new 2023 construction
  • CVS recently signed a brand new 25-year lease with 6 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee by CVS Corporation (NYSE: CVS)

Location Description

This newly constructed CVS is strategically located at the signalized, hard corner intersection of US Hwy 301 and Balm Road with access to 29,400 vehicles per day. The site is part of the upcoming Sumner Crossing shopping center, which will be home to Starbucks, Lockhart Storage, Woodie’s Wash Shack and more. Sumner Crossing is adjacent to Sumner High School (3,500+ students), which drives...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

CVS Pharmacy, Inc. is an American retail corporation and is the largest pharmacy chain in the United States by number of locations and total prescription revenue. CVS sells prescription drugs and...


...

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity