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Atlanta, GA - CVS Leasehold

$2,559,000

824 Peachtree Street Northeast, Atlanta, GA 30308

Active
Last Updated: 04/28/2026

8

Cap Rate

204,754

NOI

Details:
Cap Rate:    8%
NOI:    $204,754
Building Size:    12,150 sqft
Lot Area:    0.46 acres
Occupancy:    100%
Year Built:    2002
Zoning:    SPI-16 SA1 - Special Public Interest
Floors:    1
Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leasehold interest (building ownership) in an absolute NNN leased CVS investment property located in Midtown Atlanta, Georgia. The tenant, CVS Health, Inc. (S&P: BBB), has recently extended its lease through October 2031 on both the building and the underlying ground lease, demonstrating its commitment to the site and long-term confidence in this premier urban location. The lease features four remaining 5-year renewal options at fair market rent, providing long-term income durability and future leasing flexibility. CVS is responsible for CAM, taxes, insurance, maintenance, and all ground lease obligations, offering zero landlord responsibilities and making this an ideal passive investment opportunity for a wide range of investors. In addition, the leasehold ownership structure offers the benefit of depreciating 100% of the asset basis, creating an added tax advantage.

The subject property is located in the heart of Midtown Atlanta at the intersection of Peachtree Street NE and 6th Street NE, surrounded by a dense concentration of luxury residential high-rises including SkyHouse South (325 units), The Dagny Midtown (342 units), 903 Peachtree (427 units), Spire Midtown (391 units), and Society Atlanta (460 units). The site is less than one mile from Georgia Institute of Technology and less than two miles from Downtown Atlanta, including major landmarks such as Mercedes-Benz Stadium, State Farm Arena, and the Georgia World Congress Center. This infill location benefits from strong daily consumer traffic generated by a mix of residents, office users, students, and visitors throughout the surrounding Midtown and Downtown corridors. The affluent 3-mile trade area is supported by more than 210,400 residents and 254,846 employees with an average household income of $154,368, providing exceptional demographic support for long-term tenant performance.

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