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NNN Freestanding CVS | West Union, SC 105 Foothills Center Dr 10,000 SF Retail Building West Union, SC 29696 $2,238,198 CAD ($223.82 CAD/SF) 6.50% Cap Rate
Investment Highlights
- EXPOSURE TO GREENVILLE MSA GROWTH & LAKE KEOWEE DEMAND
- LONG-TERM PASSIVE INCOME STREAM
- LOW RENT BASIS ENHANCES LONG-TERM TENANT VIABILITY
Executive Summary
RECENT 20-YEAR LEASE EXTENSION DEMONSTRATES LONG-TERM COMMITMENT
- ?In 2019, CVS executed a 20-year lease extension, reaffirming the strategic importance of this location and signaling long-term commitment following more than two decades of successful operations at the site
INVESTMENT-GRADE CORPORATE GUARANTY (CVS HEALTH)
- ?Backed by CVS Health Corporation (NYSE: CVS; S&P: BBB), one of the largest healthcare providers in the U.S. with over 9,000 locations nationwide
LONG-TERM PASSIVE INCOME STREAM
- ?Absolute NNN lease structure provides zero landlord responsibilities and stable, predictable cash flow over the remaining 13+ year lease term
LOW RENT BASIS ENHANCES LONG-TERM TENANT VIABILITY
- ?The asset features a low absolute rent level and attractive basis, positioning the location well below replacement cost and supporting long-term tenant sustainability and renewal probability
EXPOSURE TO GREENVILLE MSA GROWTH & LAKE KEOWEE DEMAND
- ?Located within the broader Greenville–Anderson MSA, one of the fastest-growing regions in the Southeast, with additional demand drivers from Lake Keowee's affluent second-home and retirement base
- ?In 2019, CVS executed a 20-year lease extension, reaffirming the strategic importance of this location and signaling long-term commitment following more than two decades of successful operations at the site
INVESTMENT-GRADE CORPORATE GUARANTY (CVS HEALTH)
- ?Backed by CVS Health Corporation (NYSE: CVS; S&P: BBB), one of the largest healthcare providers in the U.S. with over 9,000 locations nationwide
LONG-TERM PASSIVE INCOME STREAM
- ?Absolute NNN lease structure provides zero landlord responsibilities and stable, predictable cash flow over the remaining 13+ year lease term
LOW RENT BASIS ENHANCES LONG-TERM TENANT VIABILITY
- ?The asset features a low absolute rent level and attractive basis, positioning the location well below replacement cost and supporting long-term tenant sustainability and renewal probability
EXPOSURE TO GREENVILLE MSA GROWTH & LAKE KEOWEE DEMAND
- ?Located within the broader Greenville–Anderson MSA, one of the fastest-growing regions in the Southeast, with additional demand drivers from Lake Keowee's affluent second-home and retirement base
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
10,000 SF
Year Built
1999
Price
$2,238,198 CAD
Price Per SF
$223.82 CAD
Cap Rate
6.50%
NOI
$145,483 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.50 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- CVS
- -
- 10,000 SF
- -
- Oct 2039
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| CVS | - | 10,000 SF | - | Oct 2039 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 510-08-01-017 | Improvements Assessment | $104,126 CAD |
| Land Assessment | $17,993 CAD | Total Assessment | $122,119 CAD |
Property Taxes
Parcel Number
510-08-01-017
Land Assessment
$17,993 CAD
Improvements Assessment
$104,126 CAD
Total Assessment
$122,119 CAD
Contacts
-
Eric Suffoletto -
David Hoppe -
Danny Griffin -
Mike Lucier -
Ben Olmstead -
Ben McCarter -
Kendra Doherty -
Connor Kuchman -
Atlantic Capital Partners
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NNN Freestanding CVS | West Union, SC | 105 Foothills Center Dr
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