CVS Pharmacy - Bristol, TN
308 E Cedar St
Bristol
,
TN 37620
CVS Pharmacy - Bristol, TN - Retail for sale
Overview
JLL is pleased to offer for sale the fee-simple interest in a single-tenant CVS Pharmacy (the “Property” or “Asset”) located in Bristol, TN. The Asset is leased to CVS Pharmacy, a staple investment-grade tenant among the net lease investor community. The offering features accretive in-place financing, significantly reducing the equity requirement needed for acquisition of the Asset.
Broker of Record - Robert Metcalf TN - 325438
Investment Highlights
- Ideal net lease fundamentals with over 22 years of term and zero landlord responsibilities
- Lease guaranty from CVS Health Corporation; Moody's rated Baa1 (investment-grade)
- No competing national pharmacy retailer within a three-mile radius
- Exceptional store sales performance; in-line relocation CVS to freestanding asset
- Tennessee considered a tax-friendly investment environment
General | |
Property Type | Retail |
Tenure Type | Sale / Purchase |
Property Address | 308 E Cedar St, Bristol, TN 37620-3928 |
Land In Acres | 52707 |
Building Size | 12,059 ft2 |
Financial | |
Price | $4,550,000 |
Cap Rate | 5.21% |
Current NOI | $236,986.00 |
Lease | |
Tenant's Name | CVS Caremark Corporation |
Lease Type | NNN |
Annual Rent | $236,986.00 |
Lease Expiration Date | 01/31/2041 |
Remaining Term | 22Yrs |
Download Offering Memorandum
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