Available $3,652,427 - 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 new 20 year lease underscoring their long term commitment to the site
- BBB CREDIT RATING BY STANDARD & POOR’S
Tenant is publicly traded on the NYSE and reported annual revenues in excess of $209 billion in 2019
- LOCATED ALONG AREA’S MAIN RETAIL CORRIDOR
Immediately south of Walmart with neighboring retailers including Traffic Supply, Dollar Tree, McDonald’s, AutoZone and more
- EXCELLENT EXPOSURE ON MAIN TRAFFIC ARTERY
Daily traffic counts along Brindlee Mountain Parkway exceed 14,300 vehicles
- HARD CORNER LOCATION with DRIVE THRU
Ideally positioned at the intersection of Brindlee Mountain Parkway and 12th Avenue Northwest
THE SUBJECT PROPERTY IS A 11,945 SQUARE FOOT CVS LOCATED IN ARAB, ALABAMA. CVS HAS SHOWN LONG TERM COMMITMENT TO THE SITE HAVING EXECUTED A NEW 20 YEAR FIRM LEASE TERM WHICH RUNS THROUGH 2039. THE LEASE IS STRUCTURED WITH FIVE PERCENT RENT INCREASES BETWEEN EACH OF THE FOUR 5-YEAR RENEWAL OPTIONS.
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 at the intersection of Brindlee Mountain Parkway and 12th Avenue Northwest, the subject property is ideally positioned along the area’s main traffic and retail corridor. The site is located just south of Walmart with other surrounding retailers including Tractor Supply, Dollar Tree, McDonald’s, AutoZone, Advance Auto Parts and many more. Daily traffic counts along Brindlee Mountain Parkway exceed 14,300 vehicles.
- Price: $3,652,427
- Cap Rate: 5.15%
- Lease Term: 20 Years Remaining
- Year Built: 2006
- Building Size: 11,546
- Lot Size: 1.96 Acres
- Status: Available