CVS

1400 Park Hill Dr., Gainesville, GA
Deal Type:
Net Lease
Price:
$2,735,042
Cap Rate:
5.85%
Current Rent:
$160,000
Lease Term:
5% per option years
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 15.5 years
Renewal Options:
6, 5-year options
Building Sq. Ft.:
10,921 SF
Rent Increases:
5% per option
Site Size:
2.46 acres

Investment Highlights

  • Absolute NNN Lease Structure: 15+ years remaining with no landlord responsibilities providing passive ownership
  • Investment Grade Credit: The lease is guaranteed by CVS Health Corp. which has a credit rating of BBB/Stable with S&P
  • Low Rent: Annual rental rate is well below the national average for similar drug store assets available
  • Historical Tenancy: The tenant has occupied the property for 20+ years showing a commitment to the local customer base
  • Location: Positioned at a signalized hard corner in a growing market outside of Atlanta with average household incomes of $76,600 within 3 miles

Listing Agents

Connor Shell

Managing Director
407 913 9009
[email protected]

Graham Gold

Vice President
314 324 8792
[email protected]

Broker of Record: Dean Copans, GA Lic. #430314

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