CVS Pharmacy | Covington, LA
ABSOLUTE NET | STRONG DEMOGRAPHICS | HIGH TRAFFIC COUNTS
Marketing description
Seller to credit 100% of the future free rent period via US Treasuries at closing or cash equivalent ($1,012,000).
$4,125,000 - Net Purchase Price after Rent Credit for Rent Holiday (2/2030 - 1/2033)
Investment highlights
TERM REMAINING (6.5 YEARS) - Primary Term expires 1/31/2033. CVS has operated from this location since 2008.
ABSOLUTE NET BOND LEASE - No Landlord Responsibilities.
ACTIVE RETAIL TRADE AREA - The property is located at the corner of a signalized intersection adjacent to two strip centers and numerous national tenants including McDonalds, Winn-Dixie, Wendy’s, Shell, NAPA, Burger King, United States Postal Service, Tractor Supply, Dollar General and more.
HIGH AVERAGE HOUSEHOLD INCOME - The property is positioned centrally in a residential area with a population of 53,047 in a 5-mile radius with an average household income of $112,240.
HIGH TRAFFIC COUNTS - 21,319 VPD at the intersection where the property is located.
DRIVE THRU PHARMACY
CORPORATE GUARANTEE - The lease is corporate guaranteed by CVS Health Corporation.
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