Available $2,621,837 - 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 2006 leaving approximately 14 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
- DIRECTLY ACROSS FROM PIONEER COMMUNITY HOSPITAL
151-bed hospital providing a range of services including nursing and therapy
- HARD CORNER LOCATION WITH DRIVE-THRU
Easily accessible via both Columbia Street and Freeman Road
THE SUBJECT PROPERTY IS AN 11,864 SQUARE FOOT CVS LOCATED IN BLAKELY, GEORGIA. CVS SIGNED A 25 YEAR LEASE WHICH COMMENCED IN 2006, LEAVING APPROXIMATELY 14 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 Columbia Street and South Flowers Drive, the subject property is positioned directly across from Pioneer Community Hospital, a 151-bed hospital providing a range of services from acute care, to nursing and therapy. CVS features excellent exposure along Columbia Street, the area’s main traffic corridor. Additionally, the site includes a drive-thru facility with access points along both Columbia Street and Freeman Road. Other national retailers in the area include Harvey’s Supermarket, Subway, Advance Auto Parts, Citi Trends, Dairy Queen and many more.
- Price: $2,621,837
- Cap Rate: 7.03%
- Lease Term: 14 Years Remaining
- Building Size: 11,864 SF
- Lot Size: 1.31 Acres
- Status: Available