Abs NNN CVS | ±$153K HH Incomes | MinuteClinic Location
Retail | 6.75% CAP | 11,619 SqFt
Marketing description
We are pleased to market for sale the CVS located at 796 Ridgeway Avenue in Signal Mountain, Tennessee 37377 (the "Property"). The Property is leased on an absolute net basis with no landlord responsibilities. The lease runs through January 31, 2030 at a rent of $258,491 per year, followed by ten five year options, each with a 5.0% increase.
The building contains ±10,125 square feet of ground floor area plus a ±1,494 square foot mezzanine (11,619 square feet total) on an 1.85 acre lot.
The Property fronts US Highway 127 (Ridgeway Avenue), the only major route over the mountain, adjacent to the town center and Town Hall. Signal Mountain's established residential base and limited commercially zoned land create a high barrier to entry for new drugstore development. This CVS is the only national chain pharmacy on Signal Mountain, with all competing locations requiring customers to descend the mountain.
Ascension Living Alexian Village, a senior living campus with 114 skilled nursing beds, is approximately one mile from the Property. Erlanger North Hospital is located 3.5 miles away at the base of the mountain in Red Bank.
Listed in conjunction with Brian Brockman, Bang Realty - Tennessee Inc, 513-898-1551, [email protected], TN DRE Lic. 343847.
Investment highlights
- The only national chain pharmacy on Signal Mountain. Nearest Walgreens is approximately 6.8 miles away and nearest CVS is approximately 8.3 miles away, both off the mountain.
- The store operates a MinuteClinic & HealthHub, CVS Health's retail medical clinic offering vaccinations, lab testing and treatment of common illnesses, driving additional daily traffic and prescription volume.
- Placer.ai ranks the property 15th out of 103 CVS locations in the state of Tennessee by foot traffic, placing the store in the top 15% statewide.
- Average household income of $152,988 within one mile. 26% of residents within one mile are age 65 or older.
- No landlord responsibilities. Tenant is responsible for all taxes, insurance, maintenance, roof and structure.
- This CVS has no rent holiday featured and has 10 (5-Year) options with 5% rent increases in each option period.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
