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Views: 44 DOM: 113 Updated: 05.20.24 Posted: 03.21.24 Status: Active

Summary

Price $3,091,700
Built/Renov 1999
Tenant CVS Pharmacy
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,199
Lease Start 06-01-2022
#Units 9,395
Price/SF $303.14
Expiration 06-30-2037
Tenant Type Pharmacy
NOI $185,500
R. Term 12.11
Ownership Fee Simple
Rent/SF $18.19
Increases 10.0%/13/yrs
Pop 5Mi 18,304
Lot/AC 1.78
Options 5/5yrs/10%
AHHI 5Mi $60,617

Lease Highlights

  • CVS Pharmacy has 13+ years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 10% rental escalations at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located at the signalized, hard corner intersection of Shotwell Street and Scott Street, with access to a combined daily traffic count of 17,010 vehicles. The property is well positioned within the market adjacent to a Winn Dixie anchored shopping center, boasting three points of ingress/egress. The immediate trade area is surrounded by well-known national tenants...

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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 : 6,806 16,712 20,069
2023 Total Population : 6,724 16,287 19,626
2023 Employed Civilian Pop : 2,401 5,883 6,973
2023 Total Businesses : 421 732 780
2023 Average Household Income : $ 54,045 $ 69,635 $ 69,413
2023 Total Consumer Spending : $ 130 M $ 388 M $ 471 M
2023 Median Age : 34 38 38
2023 Total Households : 2,703 6,280 7,635
2023 Pop Age 25+: Bachelor's Degree : 524 1,303 1,450
2023 Average Home Value : $ 177,314 $ 198,958 $ 193,223
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Scott St E Shotwell St 2005 12,840 0.08 mi
North Scott Street E Broughton St 2019 4,530 0.12 mi
North Scott Street E Broughton St 2018 4,560 0.12 mi
East Shotwell Street S Russ St 2019 13,000 0.12 mi
East Shotwell Street S Scott St 2019 10,100 0.14 mi
East Broughton Street E Troupe St 2019 1,060 0.15 mi
South Scott Street E Green St 2019 7,320 0.19 mi
E Evans St S Russ St 2005 800 0.21 mi
South Lamar Street E Shotwell St 2019 890 0.21 mi
East Broughton Street Monroe St 2019 1,370 0.24 mi

Listing Broker

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