Listed by Pharma Property Group
$4,092,307
Georgia CVS | No Competing CVS/Walgreens 14+ Miles
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 12,177
Cap Rate 6.5%
NOI $266,000
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type Absolute NNN
Lease Expiration 11/30/2039
Remaining Term 13.4
Rent Bumps Yes
Lease Options 8 (5-Year)
Price per SqFt $336
Broker Co-Op Yes
Year Built 2006
Acreage 1.510
Investment Type Net Lease
Retail | 6.50% CAP | 12,177 SqFt
Marketing description
Listed in conjunction with Brian Brockman, Bang Realty-Georgia Inc, 513-898-1551, [email protected], GA DRE Lic. 378952
Investment highlights
CVS guarantees the rental income which has 5% increases in the options and does not include a rent holiday.
In 2019, CVS agreed to extend the lease to a 20 year firm term showing their commitment to the location.
This property is located in the heart of Summerville and benefits from limited drugstore competition with no other CVS or Walgreens for over 14 Miles.
Located just a 5-minute drive to the northeast is Atrium Health Floyd Chattooga, which serves as the primary healthcare facility for Summerville and the surrounding communities.
Listing Contacts
Listed by Pharma Property Group
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$266,000.00
$22,166.67/mo
Valuation Metrics
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DSCR
6.5%
Cap Rate
6.5%
ROI
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