CVS/Pharmacy with 12 Year Lease | Drive Thru | Low Competition Market

Retail-Commercial for Sale
Catylist Listing ID: 30758164
Property Subtypes: Convenience Store, Free-Standing Building
Building Size (RSF): 3,851 SF
Gross Building Area: See Agent
Gross Land Area: 0.68 Acres
Sale Price: $1,852,000
Unit Price: $480.91 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 5.4%
Last Updated: 9/8/2021

Overview / Comments

- Subject Property is a Single-Story Building with 3,851-Square Feet of GLA Located on a Hard Corner | Amenities Include Monument Sign, Sheltered Carport Parking, Drive-Thru, Multiple Ingress/Egress
- Double Net Lease with a 12-Year Base Term Limited Landlord Responsibility | Five-Percent Rental Increases in Options
- Tenant CVS Pharmacy (NASDAQ: CVS) Currently Features a Stable Credit Rating of Baa2 (Stable) from Moody’s and BBB (Stable) from S&P
- Robust Traffic Counts from Union Ave (7,100 VPD) to Nearby Major Arterial U.S. Highway 380 (12,000 VPD) and 4-Lane Union Avenue (8,726 VPD), 2.5 Miles off of 70 Bypass (2,716 VPD) (Source: CoStar, NMDOT, 2020)
- Well Established Retail Corridor Includes Nearby National Tenants Albertsons Market, Sonic Drive-In, Wendy's, Starbucks, McDonald’s, Family Dollar, Dairy Queen, Dunkin’, Dollar General and Many More
- Lovelace Regional Hospital is Located within Two Miles, with 30 Beds and 250 Employees | Offers Surgical, Birthing and 24/7 Emergency Services
- Subject is Less Than Seven Miles from the Roswell International Air Center | Ascent Aviation Services Intends to Build a Wide-Body Hangar, Investing $18M and Creating as Many as 360 Jobs by 2026
- Located Only One Mile from 24-Hour Greyhound Bus Stop, One of 2,400 in North America that see Nearly 16 Million Passengers per Year

Attachments & Media

Additional Details

Nearest MSA: Roswell
County: Chaves
Tax ID/APN: 4135061136310000000

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,779 43,190 48,143
Median Age: 31.35 35.51 35.67
Households: 4,378 16,163 18,011

Contact

Photograph of Listing Agent

Matthew Reeves

Marcus & Millichap CARNM CIE Member
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