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Views: 80 DOM: 246 Updated: 11.17.24 Posted: 04.20.24 Status: Active

Summary

Price $1,017,000
Built/Renov 2017
Tenant CVS Pharmacy
Cap Rate 7.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 7,700
Lease Start 06-23-2017
#Units 9,395
Price/SF $132.08
Expiration 10-31-2031
Tenant Type Pharmacy
NOI $71,200
R. Term 6.10
Ownership Fee Simple
Rent/SF $9.25
Increases 5.0%/7/yrs
Pop 5Mi 4,600
Lot/AC 0.54
Options 6/3yrs/5%
AHHI 5Mi $68,075

Lease Highlights

  • CVS Pharmacy has 6+ years remaining on the current lease term with 6 (3-year) options to extend
  • The lease features 5% rental increases at the start of each option period
  • Investment grade tenant (S&P: BBB)
  • Corporate guaranteed lease (NYSE: CVS)

Location Description

CVS Pharmacy is strategically located on East Main Street (State Hwy 615), with access to 11,000 vehicles passing by daily. Surrounded by well-known national retailers such as Food Lion, Dollar General, and NAPA Auto Parts, the property enjoys high visibility and convenient access points. Nearby educational institutions include Floyd Elementary School and Floyd County High School. The 5-mile...

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Maps

  • 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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,067 2,582 4,543
2023 Total Population : 1,083 2,619 4,600
2023 Employed Civilian Pop : 538 1,291 2,276
2023 Total Businesses : 175 252 302
2023 Average Household Income : $ 74,083 $ 69,592 $ 68,075
2023 Total Consumer Spending : $ 32 M $ 72 M $ 120 M
2023 Median Age : 47 47 47
2023 Total Households : 494 1,180 2,009
2023 Pop Age 25+: Bachelor's Degree : 122 289 509
2023 Average Home Value : $ 291,799 $ 282,511 $ 278,531
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Sweeney St SE E Main St 2012 430 0.02 mi
Clearview Dr NE E Main St 2012 320 0.09 mi
Barberry Road Southeast McCrays Ct SE 2018 540 0.16 mi
E Oxford St Newtown Rd NE 2012 2,900 0.21 mi
Barberry Road Southeast Pine St SE 2020 2,100 0.23 mi
Barberry Road Southeast McCrays Ct SE 2021 2,400 0.23 mi
Barberry Road Southeast Pine St SE 2018 2,400 0.23 mi
Christiansburg Pike NE Blue Ridge Cir NE 2016 2,100 0.23 mi
Harris Hart Rd NE Newtown Rd NE 2012 150 0.24 mi
Woods Gap Rd SE Oak Hill Dr SW 2012 1,700 0.24 mi

Listing Broker

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