CVS pharmacy For Sale

Description:

INVESTMENT HIGHLIGHTS WITH EXCELLENT REAL ESTATE FUNDAMENTALS
● Hard Corner Locale at Signalized Intersection along Clinton’s Primary retail corridor
● Fresh 10-Yr lease extension with CVS Health Corporate guaranty
● All-brick, 10,125 sq ft building with Pharmacy Drive-Thru
● Located in the Knoxville MSA, projected population growth to reach 1M in 2028
● Located 19.5 miles/ 28 mins from the University of Tennessee Knoxville
● 23,094 ADT along N. Charles G. Seivers Boulevard
● 3M invests $470 million to expand its Clinton facility, which will add 600 new jobs by 2025.
● Dura-Line is opening a new manufacturing facility and R&D center in Clinton, investing over $25 million.

EXCELLENT UNDERLYING DEMOGRAPHICS
● Workday Population of 50,230 (15-min Drive-Time)
● Average household income $83.6K amongst 10,307 households (5-mile radius)
● Within a 15-mile radius, there are 20,077 Households with $1.1B in consumer spending

EXCELLENT UNDERLYING DEMOGRAPHICS
● Clinton is the County Seat of Anderson County
● Workday Population of 50,230 (15-min Drive-Time)
● Average household income $83.6K amongst 10,307 households (5-mile radius)
● 20,077 Households with $1.1B in consumer spending (15-mile drive time)
● 19,810 population (10-min Drive-Time) & 49,055 (15-min Drive-Time)

INDUSTRY LEADER WITH INVESTMENT GRADE CREDIT
● CVS Health ranked 6th on the Fortune 500, with $357.77B in revenue
● Trades on NYSE: CVS, which has an S&P “BBB” bond rating with a Stable outlook
● As of June 2024, CVS has more than 9,000 locations in 52 US states and territories

LEASE STRUCTURE
● Corporately Guaranty from CVS Health Corp
● 10-yr Lease Extension at $150k annual rent/ $14.81 rent/PSF
● CVS operated for 24 years prior to signing the lease extension.
● Double-Net with limited Landlord responsibilities. Parking lot repair and replacement is a Tenant's responsibility.
● Brand New roof system in July 2020 w/20-yr Manufacturer’s Warranty

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