105 Foothills Center Dr
Retail | 6.50% CAP | 10,000 SqFt
Marketing description
Atlantic Capital Partners has been exclusively engaged to offer for sale CVS Pharmacy | West Union, SC, a 10,000-square-foot single-tenant retail asset located along Blue Ridge Boulevard, the primary retail corridor serving Oconee County.
The asset is leased on an Absolute NNN basis, providing investors with a fully passive income stream backed by an investment-grade corporate guaranty from CVS Health Corporation (NYSE: CVS; S&P: BBB). CVS has operated at this location since 1999, demonstrating more than 25 years of proven store-level performance. In 2019, the tenant executed a 20-year lease extension, reaffirming long-term commitment to the site.
The lease features approximately 13 years of remaining term with scheduled rental increases in the option periods, offering durable, long-term income from a mission-critical healthcare retailer. Positioned within the Greenville-Anderson MSA and in close proximity to Lake Keowee and Clemson University, the Property benefits from a stable base of full-time residents, second-home ownership, and consistent year-round visitation.
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
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