Listed by SRS Real Estate Partners Newport Beach
$3,085,000
CVS Pharmacy
Details
APN 067 20804 000067
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 12,500
Cap Rate 7.5%
NOI $231,339
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type Absolute NNN
Lease Term 25.2
Lease Expiration 01/31/2033
Remaining Term 6.5
Lease Options 10 (5-year)
Class B
Year Built 2007
Acreage 1.770
Zoning C-3 Highway Business District
Parking Spaces 78 spaces
Parking per 1,000 SqFt 6.24
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 12/14/2007
Ground Lease No
Ownership Fee Simple (Land & Building Ownership)
Retail | 7.50% CAP | 12,500 SqFt
Marketing description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, drive-thru equipped, absolute NNN, CVS (S&P: BBB) investment property located in Madisonville, Tennessee. CVS has been operating at this location for more than 18 years and has approximately 6.5 years of firm term remaining with 10 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor within an income tax free state. CVS Pharmacy is America's leading retail pharmacy with over 9,000 locations across 49 states.
Investment highlights
- Corporate Guaranteed Lease | 18+ Years of Operating History | 6.5 Years of Term Remaining | Investment Grade Tenant (S&P: BBB)
- The lease is guaranteed by the corporate entity, CVS Caremark
- CVS has been operating at this location for more than 18 years
- The tenant has approximately 6.5 years of firm term remaining with 10 (5-year) options to extend, demonstrating their long-term commitment to the site
Listing Contacts
Listed by SRS Real Estate Partners Newport Beach
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Loan Amount
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Annual Debt Service
$--
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Annual Cash Flow
$231,339.00
$19,278.25/mo
Valuation Metrics
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DSCR
7.5%
Cap Rate
7.5%
ROI
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