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CVS 806 Hoke St 10,406 SF Retail Building Gadsden, AL 35903 $3,465,462 CAD ($333.03 CAD/SF) 6.85% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease, with approximately 14.5 years of primary term remaining. No Rent Holiday. Attractive $16.44 Annual Rent
- The lease is 100% guaranteed by CVS Health Corporation which holds an S&P: BBB credit rating.
- Price reduced, 6.85% CAP!
- The tenant is responsible for all operating expenses, taxes, insurance, and repairs and maintenance resulting in zero Landlord obligations.
- The corporate guarantee provides an investor with added income security
EXECUTIVE SUMMARY
Colliers is pleased to present the opportunity to acquire an absolute NNN leased CVS Pharmacy with +14 years of remaining term and no rent holiday in Gadsden, AL. The property was built in 2000 for CVS. In 2019, CVS agreed to a rare 20-year lease extension, confirming CVS’s commitment to this trade area and building location. Attractively located in the low income tax, southern state of Alabama, CVS is paying a modest annual rent of $171,100. The $2,497,810 price offers an investor a very high credit corporate guarantee at a low price point rarely found in the market. The property is available debt-free. The owner is currently offering for sale similar CVS properties in Paducah, KY, and Black Mountain, NC. Both with 20-year extensions in 2019, absolute NNN leases, no-rent holidays, and low price points. The three properties can be purchased individually or as a portfolio.
PROPERTY FACTS
AMENITIES
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- -
- $22.81 CAD
- Triple Net
- Oct 2039
CVS Health construit un monde de santé autour de chaque consommateur. Leur portée inégalée leur permet d'offrir des soins de santé abordables et de haute qualité au moment et de la manière dont les individus le souhaitent. Ils ont pour mission d'offrir des expériences supérieures et plus connectées, de réduire le coût des soins et d'améliorer la santé et le bien-être des personnes qu'ils servent. En tant que chef de file dans le domaine des solutions de santé, elle offre de multiples canaux d'accès aux soins de santé à l'échelle locale et nationale. Leur forte présence communautaire, leur approche avant-garDISTE et leur engagement inégalé auprès de millions de personnes leur permettent de fournir des soins de santé de haute qualité, personnalisés et abordables. Guidé par son objectif, CVS Health® construit un monde entier de soins de santé autour de chaque personne qu'elle sert, peu importe où elle se trouve dans son parcours. Ils écoutent, font preuve d'empathie et offrent des solutions novatrices qui répondent aux besoins uniques des gens et gagnent leur fidélité. Parce que la façon dont ils fournissent leurs services est tout aussi importante que ce qu'ils fournissent.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | - | $22.81 CAD | Triple Net | Oct 2039 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $216,078 CAD | |
| Land Assessment | $27,242 CAD | Total Assessment | $243,321 CAD |
PROPERTY TAXES
Presented by
CVS | 806 Hoke St
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