Madisonville, TN - CVS

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, drive-thru equipped, absolute NNN, CVS (S&P: BBB) investment property located in Madisonville, Tennessee. CVS has been operating at this location for more than 18 years and has approximately 6.5 years of firm term remaining with 10 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor within an income tax free state. CVS Pharmacy is America’s leading retail pharmacy with over 9,000 locations across 49 states.

CVS is strategically located near the signalized, hard corner intersection of U.S. Highway 411 and Tellico Street which supports more than 24,000 vehicles per day. Furthermore, the site benefits from nearby access to State Highway 68 (12,200 VPD), making this an ideal, centralized location. The asset is adjacent to a Walmart Supercenter that attracts more than 1.9 million visitors annually (Placer.ai), providing exceptional consumer traffic and reinforcing the property’s position along Madisonville’s primary retail corridor. Other nearby national/credit tenants include Save a Lot, Planet Fitness, Ingles, Dollar Tree, McDonalds, Dollar General, AutoZone, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Moreover, the site benefits from limited same-brand competition, as the nearest CVS is located approximately 10.5 miles from the subject property, reinforcing the store’s established presence and long-term market position. In addition, the asset is within walking distance from multiple apartment complexes such as The Cloverleaf Apartments (48 units), The Mountain View Apartments (28 units), Ridgeway Apartments (24 units), and more, providing a direct residential consumer base from which to draw. The 5-mile subject trade area is supported by more than 14,800 residents and 3,400 daytime employees who earn an average household income of more than $67,000.

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Listing ID: a28TP00000330ubYAA