Listed by Lee & Associates San Diego - Carlsbad, NNN Investment Group
$1,310,000
CVS Pharmacy | Rare Low Price Point
Details
APN 08-016-085
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 11,475
Units 1
Cap Rate 7.25%
NOI $95,000
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type NN
Lease Term 36
Lease Expiration 11/30/2032
Remaining Term 6.5
Rent Bumps Yes
Lease Options (3) 5-Year
Price per SqFt $114
Year Built 1985
Year Renovated 1996
Buildings 1
Stories 1
Acreage 1.330
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 12/10/1996
Ground Lease No
Ownership Fee Simple
Sale Condition 1031 exchange
Low Replaceable Rent | 30-Year Operating History
Marketing description
Lee & Associates and Bang Realty are pleased to present for sale a single-tenant CVS Pharmacy located at 206 S Main Street in Hemingway, South Carolina, within the Florence MSA. The property consists of an approximately 11,475 square foot retail building situated on 1.33 acres and is offered fee simple. Originally built in 1985 and renovated in 1996, the asset is 100% leased to CVS Health Corporation, an investment grade tenant (S&P: BBB).
Investment highlights
- CVS Health Corp: Investment Grade Credit Tenant (S&P: BBB) – Largest Pharmacy in the U.S. – Revenues of $372.8 Billion – #5 on Fortune 500 – Strong Corporate Lease Guarantee
- Rare CVS Pharmacy Price Point ($114 PSF) – Low Occupancy Costs – Longer-Term Profitability for Tenant
- 30-Year Operating History – Demonstrated Tenant Commitment – 5% Rent Increases in Options – Tenant has History of Lease Extensions at this Location
- Limited Pharmacy Competition – Adjacent to Food Lion Grocery-Anchored Center – Located along the Main Retail Corridor through Hemingway – Only CVS Pharmacy/Walgreens for Over a 20-Mile Radius
Listing Contacts
Listed by Lee & Associates San Diego - Carlsbad, NNN Investment Group
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$95,000.04
$7,916.67/mo
Valuation Metrics
0
DSCR
7.25%
Cap Rate
7.25%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
