Available $5,581,270 - 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 13 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
- HARD CORNER LOCATION WITH DRIVE-THRU
Ideally positioned at the intersection of Highway 53 and McEver Road (27,500 vpd)
- APPROXIMATELY TWO MILES FROM UNIVERSITY OF GEORGIA’S GAINSVILLE CAMPUS
Currently home to over 7,500 students and rapidly expanding
- POSITIONED ALONG MAIN RETAIL CORRIDOR
Surrounding retailers include Walmart Supercenter, Sam’s Club, Aldi, Tractor Supply and many more
THE SUBJECT PROPERTY IS A 12,788 SQUARE FOOT CVS LOCATED IN NORMAN, OK. CVS SIGNED A 25 YEAR LEASE WHICH COMMENCED IN 2006, LEAVING OVER 13 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 $184 billion in 2017.
Located at the intersection of Highway 53 and McEver Road, the subject property is positioned along two of the area’s main traffic corridors. Combined daily traffic counts exceed 27,500 vehicles. The property is positioned approximately two miles north of the University of North Georgia’s Gainesville Campus, home to over 7,500 students and rapidly expanding. Other retailers in the area include Walmart Supercenter, Sam’s Club, Aldi, Tractor Supply, McDonald’s and many more.
- Price: $5,581,270
- Cap Rate: 6.48%
- Lease Term: 13 Years Remaining
- Year Built: 2006
- Building Size: 12,788 SF
- Lot Size: 1.86 Acres
- Status: Available