CVS
Retail | 14.43% CAP | 10,915 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant, Absolute NNN leased CVS located at 2000 Center Point Parkway in Birmingham, Alabama (the “Property”). This is a dark location, CVS has 3+ years remaining on their lease and will continue to pay base rent and additional rent for the remainder of their primary lease term.
The Property is situated on a highly visible corner parcel at the signalized intersection of 20th Avenue NW and Center Point Parkway (AL Route 75), the area’s primary commercial and commuter corridor. CVS enjoys outstanding visibility and frontage with two points of access and is surrounded by national and local retailers and restaurants that drive traffic to the area. Located in the northern portion of Birmingham, the Property lies in the heart of a densely populated residential neighborhood that provides a captive customer base. The Property is 12-miles from Birmingham’s Central Business District.
Investment highlights
LEASE TERM: This is a dark location, CVS has 3+ years remaining on their lease and will continue to pay base rent and additional rent for the remainder of their primary lease term.
ZERO MANAGEMENT RESPONSIBILITIES: The CVS lease is absolute triple net and requires zero management responsibilities making it an attractive fee simple investment for the passive real estate investor.
INVESTMENT GRADE CREDIT: CVS Health (NYSE: CVS) is a publicly traded company and the largest retail pharmacy in the country with over 9,160 locations. The company holds an investment grade credit rating of BBB (S&P) and Baa3 (Moody’s) and reported 2024 revenues of over $372.8 billion, a 4.2% increase over 2023 revenues.
STRATEGIC RETAIL LOCATION: The Property is positioned at the signalized intersection of 20th Avenue NW and Center Point Parkway (AL Route 75), the area’s primary commercial and commuter corridor. CVS shares the intersection with Walmart Neighborhood Market and is surrounded by national and local retailers and restaurants that drive traffic to the area. CVS is within 2.5-miles of area schools including Jefferson State Community College, 3-miles from AL Route 79, 5-miles from Interstate 59 and Ascension St Vincent Hospital, and 8-miles from Birmingham-Shuttlesworth International Airport.
TRAFFIC COUNTS: On average more than 23,900 vehicles pass the Property each day along Center Point Parkway (AL Route 75).
DEMOGRAPHICS: More than 56,300 people live within a 3-mile radius of the Property with an average household income of $74,167. Approximately 90,900 people live within a 5-mile radius of the Property with an average household income of $84,103.
RETAIL TRADE AREA: Additional retailers, destinations, and businesses drawing traffic to the trade area include Walmart Supercenter, Walmart Neighborhood Market, Food Giant, Aldi, Walgreens, O’Reilly Auto Parts, Advance Auto Parts, AutoZone, Dollar General, Family Dollar, Applebee’s, Waffle House, McDonald’s, Wendy’s, KFC, Popeyes, Taco Bell, Sonic, Krystal, Church’s Chicken, Captain D’s, Pizza Hut, Little Caesars Pizza, and Subway.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
