Waycross, GA - CVS

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, investment grade (S&P: BBB), drive-thru equipped, CVS investment property located in Waycross, Georgia. The tenant has approximately 12 years remaining with 10 (5-year) options to extend, demonstrating their commitment to the site. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor. CVS Pharmacy is America’s leading retail pharmacy with nearly 10,000 locations across 49 states, District if Columbia and Puerto Rico.

Corporate Guaranteed lease of high performing store by CVS Caremark (S&P: BBB). The tenant has approximately 12 years remaining with 10 (5-year) options to extend, demonstrating their long-term commitment to the site.

• The asset is ideally located at the signalized, hard corner intersection of South City Boulevard and Brunswick Highway which serves over 21,000 vehicles per day
• The site is located less than 2 miles south of Memorial Satilla Health, a 231 bed hospital that supports the local area
• The site is within close proximity from multiple national/credit tenants including Walmart Supercenter, Lowes, Ross, Tractor Supply, and more
• The site is equipped with a drive-thru, providing ease and convenience
for customers
• Rare opportunity to own the only CVS within a 30-mile radius, and the only site located in Waycross, the county seat of Ware County
• A comparable Walgreens located on Memorial Drive, with a recent lease extension, was traded 18 months ago for $4,446,000 at a 5.00% cap rate, demonstrating the strength of the area
• The 5-mile subject trade area is supported by more than 31,000 residents and 15,000 daytime employees