Listed by Atlantic Capital Partners
$1,630,769
CVS | West Union, SC
Details
APN 510-08-01-017
Property Type Retail
Sub Type Pharmacy/Drug, Storefront
Net Rentable (SqFt) 10,000
Units 1
Cap Rate 6.5%
NOI $106,000
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens, CVS Pharmacy
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 10/31/2039
Remaining Term 13.4
Rent Bumps Yes
Lease Options 5 x 5-year options
Year Built 1999
Acreage 1.500
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 11/01/2019
Ground Lease No
6.5% CAP | CORP ABS NNN LEASE
Investment highlights
RECENT 20-YEAR LEASE EXTENSION DEMONSTRATES LONG-TERM COMMITMENT
- In 2019, CVS executed a 20-year lease extension, reaffirming the strategic importance of this location and signaling long-term commitment following more than two decades of successful operations at the site
INVESTMENT-GRADE CORPORATE GUARANTY (CVS HEALTH)
- Backed by CVS Health Corporation (NYSE: CVS; S&P: BBB), one of the largest healthcare providers in the U.S. with over 9,000 locations nationwide
LONG-TERM PASSIVE INCOME STREAM
- Absolute NNN lease structure provides zero landlord responsibilities and stable, predictable cash flow over the remaining 13+ year lease term
LOW RENT BASIS ENHANCES LONG-TERM TENANT VIABILITY
- The asset features a low absolute rent level and attractive basis, positioning the location well below replacement cost and supporting long-term tenant sustainability and renewal probability
EXPOSURE TO GREENVILLE MSA GROWTH & LAKE KEOWEE DEMAND
- Located within the broader Greenville–Anderson MSA, one of the fastest-growing regions in the Southeast, with additional demand drivers from Lake Keowee's affluent second-home and retirement base
Listing Contacts
Listed by Atlantic Capital Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$106,000.00
$8,833.33/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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