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Views: 139 DOM: 282 Updated: 11.22.24 Posted: 03.14.24 Status: Active

Summary

Price $2,735,042
Built/Renov 2003
Tenant CVS Pharmacy
Cap Rate 5.85%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,921
Lease Start 09-10-2003
#Units 9,395
Price/SF $250.44
Expiration 08-31-2039
Tenant Type Pharmacy
NOI $160,000
R. Term 14.8
Ownership Fee Simple
Rent/SF $14.65
Increases 5.0%/15/yrs
Pop 5Mi 65,732
Lot/AC 2.46
Options 6/5yrs/5%
AHHI 5Mi $62,670

Lease Highlights

  • CVS has been operating in this location since 2003
  • The tenant has 14+ years remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 5% rental increases at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

CVS is strategically located at the signalized, hard corner intersection of Park Hill Drive and S Enota Drive, with access to a combined daily traffic count of 29,900 vehicles. The property is adjacent to O’Reilly Auto Parts and surrounded by well-known national tenants such as Walgreens, Wendy's, Dollar Tree, and more. Key educational institutions in the vicinity include Enota Multiple...

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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 : 7,394 36,714 67,449
2023 Total Population : 7,164 35,551 66,199
2023 Employed Civilian Pop : 3,219 15,247 28,813
2023 Total Businesses : 360 2,434 3,308
2023 Average Household Income : $ 89,202 $ 80,820 $ 85,423
2023 Total Consumer Spending : $ 240 M $ 929 M $ 1735 M
2023 Median Age : 41 34 34
2023 Total Households : 3,087 13,062 23,095
2023 Pop Age 25+: Bachelor's Degree : 947 3,268 5,745
2023 Average Home Value : $ 368,919 $ 382,397 $ 380,881
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Park Hill Dr S Enota Dr 2013 16,540 0.05 mi
Park Hill Drive Lakeview Dr 2019 16,400 0.23 mi
Morningside Drive Cumberland Valley Rd 2019 13,600 0.30 mi
South Enota Drive Northeast Springdale Rd 2019 10,900 0.32 mi
Lakeview Drive Brenau Point Dr 2019 4,710 0.50 mi
Nottingham Drive Little John Cir 2019 870 0.56 mi
Riverside Drive Lanier Ave 2019 3,220 0.60 mi
Robinhood Trail Fairview Dr 2019 1,020 0.65 mi
South Enota Drive Northeast Robinhood Trl 2019 10,200 0.66 mi
Oak Tree Drive Riverside Ter 2019 4,300 0.67 mi

Listing Broker

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