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
Property Subtype Single Tenant / Standalone
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 21.8Yrs