CVS

111 West 8th Street, Tifton, GA 31794

$3,039,822

Cap Rate 6.75%

Views: 117 DOM: 473 Updated: 08.06.24 Posted: 06.01.23 Status: Active

Summary

Price $3,039,822	Built/Renov 2004	Tenant CVS
Cap Rate 6.75%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 10,940	Lease Start 12-17-2004	#Units 9,900
Price/SF $277.86	Expiration 01-31-2030	Tenant Type Pharmacy
NOI $205,188	R. Term 5.4	Ownership Fee Simple
Rent/SF $18.76	Increases 0.0%/0/yrs	Pop 5Mi 31,223
Lot/AC 1.38	Options 10/5yrs	AHHI 5Mi $51,595

Jimmy Goodman

The Boulder Group (HQ)

Contact

Lease Highlights

CVS has been operating in this location since 2004
The tenant has 6+ years remaining on their primary lease term with 10 (5-year) options to extend
Low rent for a national pharmacy location
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease by CVS Corporation
CVS is an investment grade tenant (S&P: BBB)

Location Description

The 10,940 square-foot building is located along 8th Street (7,130 VPD) and within proximity to Interstate 75 (52,700 VPD) which are primary thoroughfares through Tifton, Georgia. The subject property is surrounded by several shopping centers including Tifton Mall. Tenants occupying those shopping centers include Publix, T.J. Maxx, Tractor Supply Company, Big Lots, Bath & Body Works,...

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Key Features

Signalized intersection
High traffic 50M+ VPD
Near major nationals
Highway location
Long operation history
Low rent to sales ratio
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

CVS Wikipedia CVS Wikipedia Tifton, Georgia Zip Code 31794 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: CVS
Guarantor:Corp T and Rated
Company:CVS Corporation
# Units:9,900
Tenant S&P: BBB
Moody’s: Baa1
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 :	6,648	25,728	32,157
2023 Total Population :	6,669	25,257	31,539
2023 Employed Civilian Pop :	3,143	10,732	13,692
2023 Total Businesses :	685	1,440	1,594
2023 Average Household Income :	$ 65,181	$ 66,432	$ 71,301
2023 Total Consumer Spending :	$ 157 M	$ 575 M	$ 772 M
2023 Median Age :	36	36	37
2023 Total Households :	2,736	9,827	12,324
2023 Pop Age 25+: Bachelor's Degree :	332	1,362	1,943
2023 Average Home Value :	$ 162,184	$ 178,701	$ 188,087

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Park Ave N	8th St W	2004	1,678	0.04 mi
8th Street West	N Central Ave	2019	7,130	0.07 mi
Love Avenue	8th St W	2019	4,870	0.17 mi
Central Avenue	N Central Ave	2021	3,820	0.19 mi
Central Avenue	W 4th St	2019	3,820	0.19 mi
Tift Avenue South	E 3rd St	2021	8,450	0.24 mi
Love Avenue	E 6th St	2019	5,750	0.26 mi
8th Street West	N College Ave	2019	6,230	0.26 mi
W 4th St	Clyde Ln	2005	2,630	0.27 mi
West 12th Street	Clyde Ln	2018	6,300	0.28 mi

Listing Broker

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