Available $5,921,459 - Retail - Single Tenant
Investment Offering & Highlights
- ABSOLUTE NET LEASE STRUCTURE
Zero landlord responsibilities for operating or capital expenses
- CORPORATE BACKED LONG TERM LEASE
CVS signed a 25 year lease in 2008 leaving approximately 15 years remaining on the initial lease term
- BBB+ CREDIT RATING BY STANDARD & POOR’S
Tenant is publicly traded on the NYSE and reported annual revenues in excess of $177 billion in 2016
- JUST WEST OF HENRY TOWN CENTER
700,000 square foot power center anchored by Super Target, Home Depot, Belk, Old Navy and More
- AFFLUENT COMMUNITY
Average household income in excess of $94,000
- HARD CORNER LOCATION WITH DRIVE-THRU
Easily accessible via two of the area’s main traffic corridors
THE SUBJECT PROPERTY IS A 13,225 SQUARE FOOT CVS LOCATED IN MCDONOUGH, GEORGIA. CVS SIGNED A 25 YEAR LEASE WHICH COMMENCED IN 2008, LEAVING APPROXIMATELY 15 YEARS REMAINING ON THE TENANT’S INITIAL LEASE TERM.
The lease is absolute net providing for zero landlord responsibilities. CVS, which is publicly traded on the New York Stock Exchange under the ticker symbol “CVS”, has a current BBB+ credit rating by Standard & Poor’s and reported annual revenues in excess of $177 billion in 2016.
Located at the signalized intersection of Jonesboro Road and Chambers Road, the subject property is positioned along one of the area’s main retail corridors, just west of Henry Town Center, a 700,000 square foot regional power center anchored by Super Target, Home Depot, Belk, Old Navy and Michael’s. Other retailers in the immediate area include Sam’s Club, Best Buy, Dick’s Sporting Goods, LA Fitness and many more. The area surrounding the property is an affluent community boasting an average household income in excess of $94,000.
- Price: $5,921,459
- Cap Rate: 6.52%
- Lease Term: 15 Years Remaining
- Year Built: 2007
- Building Size: 13,225 SF
- Lot Size: 1.62 Acres
- Status: Available