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CVS Pharmacy Net Lease Investment Opportunity | 5% Cap Rate

1906 Cherokee Avenue SW
Cullman, AL 35055
PRICE : $4,941,144
CAP RATE: 5%
PROPERTY TYPE: Retail
BUILDING SIZE: 13,600 SF

Highlights

  • 19 years remain on an absolute NNN lease with no landlord obligations
  • Corporate Guarantee from CVS Health, a Fortune 10 company with $267 billion in annual revenues
  • 2014 build with drive-thru pharmacy
  • Located at a 4-way signalized intersection one mile from the town center shopping district
  • Strong creditworthy tenant, triple BBB with S&P rating, with over 9,900 locations
  • Bull Realty Alabama License #: 000083871-0

Description

This NNN, corporate guaranteed, CVS Pharmacy is located in Cullman, Alabama a submarket of the Birmingham MSA. Built in 2014 to include drive-thru pharmacy, this store is well located within the areas major retail district, situated at the four-way signalized intersection of Cherokee Road SW and Olive Street SW, approximately three miles northeast off of Interstate 65 near downtown Cullman. CVS standalone stores offer customers convenience and value across a wide assortment of health, wellness, personal care and beauty products, as well as general merchandise, snacks and groceries.

Opened in 2014, the base term of 26 years has 19 years remaining plus two 5-year renewal options. The guarantor, CVS Health, has over 9,900 locations in 49 states, sees over 50MM patients to their clinics and employs workforce of over 300,000.

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