CVS Investment Sale NEW PRICING Tallasee, AL
Retail | 7.16% CAP | 11,325 SF
Marketing description
Engel Realty Company is pleased to exclusively market for sale a single tenant net leased CVS Pharmacy located in Tallassee, AL.
CVS together with its subsidiaries, is the largest pharmacy provider in the United States.
The original lease terms runs through January 2031 leaving over 7 years remaining on the primary term. CVS has been successfully operating since 2010, and has 6 options to renew for a period 5 years each.
The lease is triple net which presents no landlord responsibilities. The lease also features a corporate guaranty from CVS at below market rents comparatively to similar national pharmacy retailers.
Located in historic Tallassee, AL 37 mile east of capital City Montgomery, AL and part of the Montgomery MSA, and approximately 40 miles west of Auburn, AL.
Investment highlights
List Price Contact Agent
NOI $157,416.00 Current In Place Income
Lease Type NNN
Location Hard corner & Signalized intersection. Located next to Tallassee High SchoolNear Tallassee Elementary and Tallassee Community Hospital
Rental Increases: 7.15% Increase 1st option period in 2031 and 5% each option period thereafter
Lease Commencement April 2010
Lease Expiration January 31, 2031. Tenant has 6 option periods for 5 years each remaining
Guaranty Corporate Guaranty —CVS Caremark
Size 11,325 situated on 1.4 Acres
Parking 4.24 per 1,000sf
Parcel Information City of Tallassee
Parcel ID 20 04 18 3 304 001.001
Construction Year 1997
Population 18,000+ trade area population
Local competition Limited local competition; Nearest CVS is 17+ miles away and no other national
pharmacies in immediate area
Sales Reporting Not Available
Nearby Retailers Dollar General, Super Goods, and Tractor
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