Available $4,098,969 - 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
- ADJACENT TO WALMART NEIGHBORHOOD MARKET
Other retailers in the area include Lowe’s, Publix and more
- HARD CORNER LOCATION WITH DRIVE-THRU
Ideally positioned at the intersection of Russell Parkway and Lake Joy Road
- DENSELY POPULATED AREA
Over 96,000 residents within a five mile radius
THE SUBJECT PROPERTY IS A 12,900 SQUARE FOOT CVS LOCATED IN WARNER ROBINS, GA. 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 Russell Parkway and Lake Joy Road, the subject property is positioned adjacent to a Walmart Neighborhood Market. Other retailers in the area include Lowe’s, Publix, Wells Fargo and many more. The site features accessibility and excellent exposure along Russell Parkway, one of the area’s main traffic thoroughfares with daily traffic counts in excess of 24,000 vehicles. This densely populated area is home to over 96,000 residents within a five mile radius.
- Price: $4,098,969
- Cap Rate: 4.85%
- Lease Term: 20 Years Remaining
- Year Built: 2006
- Building Size: 12,900 SF
- Lot Size: 2.04 Acres
- Status: Available