CVS Pharmacy | Greenwood, SC
Retail | 6.25% CAP | 10,184 SqFt
Marketing description
This offering presents a net-leased CVS Health asset backed by an investment-grade, corporate-guaranteed tenant, delivering stable and predictable cash flow. The property operates under an absolute triple-net (NNN) lease, that provides passive ownership structure with minimal landlord responsibilities.
CVS has operated at this location for over 26 years, which demonstrates strong site performance and long-term commitment. The asset features just under seven years of remaining lease term with built-in rental increases, offering both income stability and growth potential. Strategically located on a high-visibility corner along a heavily trafficked retail corridor, the property benefits from strong surrounding national retailers and is located near a major regional medical center, which supports consistent consumer traffic and healthcare-driven demand.
Investment highlights
Investment Grade Tenant – CVS Health (S&P: BBB). Corporate-guaranteed lease from CVS Health, providing institutional-quality credit and long-term income security.
Absolute Triple Net (NNN) Lease – Zero Landlord Responsibilities.
Long-Term Lease Structure – Just Under 7 Years of Remaining Lease Term – Secure in-place income with meaningful term remaining, and rental increases in the renewal options to combat inflation.
Proven Location – CVS has operated at this site for over 26 years demonstrating sustained performance and commitment to the site.
High-Visibility Corner Location – Situated on over an acre along a dense retail corridor at a signalized intersection with strong traffic counts and excellent access.
Highly Trafficked Corridor – This stretch of the Bypass sees over ±24,700 VPD.
Surrounding National Retailers – Dominant Retail Trade Area with National Co-Tenancy Located near major national retailers including Walmart, Hobby Lobby, Dollar General, McDonald’s, Starbucks, and Chick-fil-A, driving consistent consumer traffic to the area.
Healthcare-Driven Demand – Proximity to Self Regional Healthcare (358 Beds). Located near a major regional medical center, supporting consistent pharmacy demand and daily traffic from patients and healthcare professionals.
Greenwood SC – Greenwood serves as a regional hub for healthcare, retail, and education in Upstate South Carolina, drawing consumers from surrounding rural communities. The area benefits from a stable employment base, anchored by healthcare, manufacturing, and education sectors, supporting consistent population demand and retail performance.
Necessity-Based Retail – CVS benefits from in-person prescription services and essential retail offerings, insulating the asset from online competition.
Strong Lease Continuity & Renewal Upside – While the current base term has under 10 years remaining, the lease includes two (2) five-year renewal options with scheduled rental increases. The tenant has successfully operated at this location since 1999, demonstrating strong site performance and a high likelihood of continued occupancy.
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