Available $5,407,121 - 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 2010 leaving approximately 17 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 $184 billion in 2017
- DIRECTLY ACROSS FROM THE JOHN DEERE AUGUSTA PRODUCTION PLANT
500,000 square foot facility home to approximately 700 employees
- ACCESSIBILITY VIA HORIZON SOUTH PARKWAY AND WRIGHTSBORO ROAD
Two of the area’s main traffic corridors (24,100 vpd)
- LOCATED IN THE AREA’S MAIN RETAIL HUB
Surrounding retailers include Family Dollar, McDonald’s, Shell, O’Reilly Auto Parts and more
THE SUBJECT PROPERTY IS A 11,945 SQUARE FOOT CVS LOCATED IN GROVETOWN, GA. CVS SIGNED A 25 YEAR LEASE WHICH COMMENCED IN 2010, LEAVING APPROXIMATELY 17 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 $209 billion in 2019.
Located along Horizon South Parkway, the site is situated in the area’s main retail hub. CVS is located directly across from the Augusta site for John Deere, a 500,000 square foot facility spanning more than 175 acres and home to approximately 700 employees to support the design, production and distribution of John Deere compact utility and utility tractors. This facility has experienced sustained growth and is the company’s top production plant today. Having added over 230 full-time positions to the facility since 2015, John Deere expects to grow by an additional 90 permanent new jobs at this site this year alone.
Other national retailers in the immediate area include Family Dollar, McDonald’s, Shell, O’Reilly Auto Parts, Aaron’s and many more. The subject property features access points on both Horizon South Parkway and Wrightsboro Road, two of the area’s main traffic corridor. Combined daily traffic counts exceed 24,100 vehicles.
- Price: $5,407,121
- Cap Rate: 6.52%
- Lease Term: 17 Years Remaining
- Year Built: 2010
- Building Size: 11,945 SF
- Lot Size: 4.41 Acres
- Status: Available