CVS Pharmacy

12275 Hwy 231 431 N, Meridianville, AL 35759

$4,749,830

Cap Rate 7.10%

Views: 85 DOM: 178 Updated: 08.14.24 Posted: 03.14.24 Status: Active

Summary

Price $4,749,830	Built/Renov 2008	Tenant CVS Pharmacy
Cap Rate 7.10%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 13,225	Lease Start 01-01-2024	#Units 9,395
Price/SF $359.16	Expiration 01-31-2034	Tenant Type Pharmacy
NOI $337,238	R. Term 9.4	Ownership Fee Simple
Rent/SF $25.50	Increases 5.0%/10/yrs	Pop 5Mi 28,358
Lot/AC 1.77	Options 6/5yrs/5%	AHHI 5Mi $99,668

Lease Highlights

CVS has 9+ years remaining on the current lease term with 6 (5-year) options to extend
The lease features 5% rental escalations at the start of each option period
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

CVS is strategically located at the signalized, hard corner intersection of Highway 231 and Patterson Lane, with access to a combined daily traffic count of 32,250 vehicles. The property is adjacent to Urgent Medicare and in close proximity to Leo at Flint Crossing, a 266-unit luxury development. The surrounding area features well-known national tenants, including Circle K, Publix, Dollar...

...

Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Highway location
Affluent suburb location
Major MSA
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Links

CVS Wikipedia CVS Wikipedia Meridianville, Alabama Zip Code 35759 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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,218	12,608	28,117
2023 Total Population :	2,159	12,334	27,435
2023 Employed Civilian Pop :	1,079	6,105	13,569
2023 Total Businesses :	46	226	449
2023 Average Household Income :	$ 122,338	$ 118,161	$ 107,707
2023 Total Consumer Spending :	$ 83 M	$ 470 M	$ 978 M
2023 Median Age :	42	41	41
2023 Total Households :	796	4,634	10,531
2023 Pop Age 25+: Bachelor's Degree :	549	2,546	4,630
2023 Average Home Value :	$ 285,417	$ 293,892	$ 277,020

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
	Steger Rd	2014	31,250	0.11 mi
US Hwy 231	Monroe Rd	2020	30,471	0.74 mi
US 231;US 431	Hwy 231	2021	30,471	0.74 mi
US Hwy 231	Jacob Landing Dr	2017	28,070	1.10 mi
Jacob Landing Dr	Clear Springs Cir	2004	7,470	1.14 mi
Monroe Road	Piper Ln	2021	2,926	1.24 mi
Monroe Road	Beaconsfield Dr	2020	2,926	1.24 mi
Meridianville Bottom Road	Hwy 231 431 N	2018	3,339	1.32 mi
Meridianville Bottom Road	Strong Mill Rd	2020	3,389	1.35 mi
Meridianville Bottom Road	McCollum Rd	2021	3,389	1.35 mi

Listing Broker

Jordan Shtulman

STREAM Capital Partners

Contact

83 Listings
7606 Views
33 Sold

Adam English

STREAM Capital Partners

Contact

19 Listings
2675 Views
3 Sold

Jordan Shtulman

Jordan Shtulman is Co-Founder and Managing Principal of STREAM Capital Partners. In 2012, Jordan Shtulman and his partner, Jonathan Wolfe, formed STREAM Capital Partners with the intent to advise institutions, real estate developers, REITs, private equity firms, and business owners on all phases of net leased and sale leaseback properties. Since forming the company, Jordan and Jonathan have led a team of trusted advisors across the country completing over $12 Billion in net leased and sale leas

...

Adam English

Adam English, Managing Director at Stream Capital Partners, brings over 12 years of investment brokerage and advisory services experience to the Alabama office and leads the STREAM Southeast team. Adam has become a pillar of support to the Company, providing leadership to the offices and brokers he partners within STREAM. Adam focuses on net lease and sale leaseback transactions throughout the country and has developed a strong base of corporate, national, and regional clients providing advisor

...

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