CVS

Net Lease

1400 Park Hill Dr., Gainesville, Georgia

Ownership Type:

Fee Simple

Price:

$2,735,042

Cap Rate:

5.85%

Current Rent:

$160,000

Tenancy:

Single Tenant

Lease Type:

See OM

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

Access Offering Memorandum

Ownership Type:

Fee Simple

Price:

$2,735,042

Cap Rate:

5.85%

Current Rent:

$160,000

Lease Type:

See OM

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

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

Download Offering Memorandum

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CVS