CVS Pharmacy

301 American Avenue, Booneville, MS 38829

$2,972,769

Cap Rate 6.50%

Views: 135 DOM: 567 Updated: 11.02.24 Posted: 06.03.23 Status: Active

Summary

Price $2,972,769	Built/Renov 2010	Tenant CVS Pharmacy
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 14,889	Lease Start 12-17-2010	#Units 9,395
Price/SF $199.66	Expiration 01-31-2036	Tenant Type Pharmacy
NOI $193,230	R. Term 11.1	Ownership Fee Simple
Rent/SF $12.98	Increases 0.0%/0/yrs	Pop 5Mi 12,189
Lot/AC 1.98	Options 10/5yrs	AHHI 5Mi $55,685

Jimmy Goodman

The Boulder Group (HQ)

Contact

Lease Highlights

CVS has been operating in this location since 2010 and features a drive-thru
The tenant has 11+ years remaining on its current lease term with 10 (5-year) options to extend
Rent holiday from February 2033 to January 2036 | Seller to credit buyer for the difference in rent
The first 2 years of the 3rd renewal option will be 101% of FMV as determined by an appraiser
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

The 14,889-square-foot building is located along North 2nd Street a primary thoroughfare for the area that experiences over 11,000 vehicles per day. The property is surrounded by several nationally recognized retailers and several industrial tenants including Walmart, Tractor Supply Company, ACCO Brands, McDonald’s, O’Reilly Auto Parts, North American Pipe Corporation, and ProVia. The property...

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Key Features

Hard corner intersection
Major thoroughfare
Near major nationals
Strategically located
University college close
Absolute NNN
Limited competition
Traded and rated company
Corporate Guarantee

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Links

CVS Wikipedia CVS Wikipedia Booneville, Mississippi Zip Code 38829 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: CVS Pharmacy
Guarantor:Corp T and Rated
Company:CVS Health Corporation
# Units:9,395
Tenant S&P: BBB
Moody’s: Baa2
Stock: NYSE: CVS

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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,034	8,754	12,050
2023 Total Population :	2,058	8,854	12,188
2023 Employed Civilian Pop :	449	3,045	4,471
2023 Total Businesses :	128	466	497
2023 Average Household Income :	$ 56,442	$ 64,519	$ 65,891
2023 Total Consumer Spending :	$ 23 M	$ 182 M	$ 265 M
2023 Median Age :	24	35	37
2023 Total Households :	476	3,192	4,519
2023 Pop Age 25+: Bachelor's Degree :	58	810	1,075
2023 Average Home Value :	$ 137,625	$ 148,639	$ 146,081

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Bolton Road	Bolton Ave	2018	550	0.19 mi
Parker Drive	E Parker Dr	2018	2,300	0.32 mi
E George E Allen Drive	Rev A C Welch Dr	2018	4,100	0.48 mi
North College Street	American Legion St	2018	2,100	0.51 mi
N 2nd St	Ridgemont Villa	2006	11,000	0.54 mi
North 2nd Street	Parker Dr	2018	11,000	0.58 mi
Townhouse Drive	Superior Dr	2018	240	0.60 mi
Martin Luther King Jr Drive	Triplett St	2018	2,000	0.62 mi
Martin Luther King Jr Dr	Triplett St	2006	2,100	0.62 mi
E Chambers Dr	Townhouse Dr	2006	6,900	0.64 mi

Listing Broker

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