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Views: 106 DOM: 100 Updated: 11.08.24 Posted: 09.12.24 Status: Active

Summary

Price $7,116,000
Built/Renov 2009
Tenant CVS Pharmacy
Cap Rate 8.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,225
Lease Start 09-30-2009
#Units 9,395
Price/SF $538.07
Expiration 10-31-2034
Tenant Type Pharmacy
NOI $604,836
R. Term 9.10
Ownership Fee Simple
Rent/SF $45.73
Increases 0.0%/0/yrs
Pop 5Mi 168,975
Lot/AC 2.33
Options 10/5yrs
AHHI 5Mi $117,950

Lease Highlights

  • CVS Pharmacy has been operating in this location since 2009
  • The tenant has 9+ years remaining on the current lease term with 10 (5-year) options to extend
  • The lease features a 3-year rent holiday at the end of the initial term, FMV escalations at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located at the signalized, hard corner intersection of Jefferson Avenue and Harpersville Road, a major retail and commuter corridor with access to s significant combined daily traffic count of 67,600 vehicles. The property features multiple access points for ease of entry and exit and is positioned directly across from a Walmart Neighborhood Market. Additionally,...

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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...


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Listing Broker

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