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Views: 228 DOM: 556 Updated: 09.27.24 Posted: 09.26.23 Status: Active

Summary

Price $2,190,900
Built/Renov 2006
Tenant CVS Pharmacy
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,801
Lease Start 01-09-2006
#Units 9,395
Price/SF $223.54
Expiration 01-31-2031
Tenant Type Pharmacy
NOI $175,267
R. Term 5.10
Ownership Fee Simple
Rent/SF $17.88
Increases 11.0%/8/yrs
Pop 5Mi 8,344
Lot/AC 1.88
Options 10/5yrs/11%
AHHI 5Mi $65,214

Lease Highlights

  • CVS has been operating in this location since 2006
  • Tenant currently has 6+ years remaining on the current lease term with 10 (5-year) options to extend
  • Lease features 11% rental increase during the first option and FMV for remaining options
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee by CVS Corporation (NYSE: CVS)

Location Description

This 9,801 square foot CVS is situated on a 1.88 parcel along West Greenwood Street with access to 12,621 vehicles per day. The site is directly across from Abbeville Area Medical Center, providing a direct consumer base for the site to draw from. Additionally, the tenant benefits from its location along a dense retail corridor with neighboring national/credit tenants including Burger King,...

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Maps

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  • 1 Mile
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  • 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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,082 6,312 8,186
2023 Total Population : 1,088 6,436 8,344
2023 Employed Civilian Pop : 337 2,340 3,124
2023 Total Businesses : 113 359 393
2023 Average Household Income : $ 45,640 $ 62,134 $ 65,214
2023 Total Consumer Spending : $ 18 M $ 151 M $ 206 M
2023 Median Age : 45 43 44
2023 Total Households : 450 2,728 3,529
2023 Pop Age 25+: Bachelor's Degree : 108 717 926
2023 Average Home Value : $ 123,792 $ 146,086 $ 156,890
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Greenwood St Morse Ave 2010 11,800 0.24 mi
West Greenwood Street 1st St 2021 11,000 0.36 mi
SC 72 Holloway Dr 2021 5,800 0.37 mi
Langley Street Haddon St 2021 200 0.64 mi
West Greenwood Street Tanyard St 2021 10,400 0.72 mi
Carolina Circle Langley St 2021 600 0.74 mi
Vienna Street Bradley Ave 2021 2,100 0.74 mi
Carolina Cir Langley St 2010 700 0.75 mi
State Hwy 28-72 Con Taylor Ln 2005 1,350 0.80 mi
SC 72 Union Church Rd 2021 5,500 0.81 mi

Listing Broker

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Richard Murphy

Avison Young: Capital Markets

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  • 15 Listings
  • 3333 Views
  • 1 Sold
Jonathan Hipp

Avison Young: Capital Markets

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  • 13 Listings
  • 3015 Views
  • 0 Sold

Rich Murphy is a Senior Vice President in the Capital Markets Group. He performs investment sales, with a focus on Single-Tenant NNN Properties. In this role he works with investors, developers, 1031 exchange buyers, and companies performing sale-leasebacks. Prior to Avison Young, Rich spent 10 years with Calkain Companies where he performed over $300 million in investment sales as well as led the asset management business. He also worked for Akridge and The Mills Corp, in addition to over seve

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With a career spanning over 25 years, Jonathan Hipp is recognized as one of the leading providers of net lease investment advisory services in the country. He joined Avison Young in 2020 as a Principal, member of the U.S. Capital Markets Executive Committee, and leader of the national Net Lease Group. Based in the firm’s Washington, DC office, Hipp has expanded and solidified Avison Young’s net lease market position, and today leads a team of senior advisors across the country who specialize

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