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Views: 99 DOM: 407 Updated: 07.04.24 Posted: 06.01.23 Status: Active

Summary

Price $4,238,092
Built/Renov 2010
Tenant CVS
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,992
Lease Start 12-17-2010
#Units 9,900
Price/SF $302.89
Expiration 01-31-2036
Tenant Type Pharmacy
NOI $275,476
R. Term 11.6
Ownership Fee Simple
Rent/SF $19.69
Increases 0.0%/0/yrs
Pop 5Mi 7,962
Lot/AC 2.51
Options 10/5yrs
AHHI 5Mi $55,145

Lease Highlights

  • CVS has been operating in this location since 2010
  • The tenant has 12+ years remaining on their primary lease term with 10 (5-year) options to extend
  • The lease features FMV rental increases throughout the option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed by CVS Corporation (NYSE: CVS)
  • CVS is an investment grade tenant (S&P: BBB)

Location Description

The 13,992 square-foot building, equipped with a drive-thru, is located at the intersection of West College Street and SR 25 which experiences a combined traffic count of 20,400 vehicles per day. The subject property is surrounded by several nationally recognized tenants including Piggly Wiggly, O’Reilly Auto Parts, McDonald’s, Regions Bank, Dollar Tree, Circle K, and NAPA Auto Parts. The...

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Maps

  • 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 : 2,787 5,821 8,358
2023 Total Population : 2,689 5,549 8,002
2023 Employed Civilian Pop : 691 1,990 3,101
2023 Total Businesses : 215 282 325
2023 Average Household Income : $ 73,539 $ 78,017 $ 80,183
2023 Total Consumer Spending : $ 41 M $ 120 M $ 186 M
2023 Median Age : 36 38 39
2023 Total Households : 641 1,762 2,646
2023 Pop Age 25+: Bachelor's Degree : 140 389 581
2023 Average Home Value : $ 315,849 $ 317,177 $ 300,707
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West College Street Industrial Pkwy 2021 10,960 0.12 mi
West College Street Walton St 2020 10,960 0.12 mi
SR 25 Washboard Rd 2019 8,958 0.13 mi
AL 25 Columbiana Sq 2021 8,305 0.21 mi
State Rte 25 Chelsea Rd 2020 8,305 0.21 mi
West College Street Mill St 2020 9,949 0.22 mi
Depot Street Butler St 2021 1,506 0.24 mi
North Main Street Meyer St 2021 2,582 0.50 mi
State Rte 25 W College St 2020 7,327 0.53 mi
East College Street Short St 2021 5,264 0.59 mi

Listing Broker

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