CVS - Stone Mountain
7207 Rockbridge Rd
CVS - Stone Mountain - Retail for sale
JLL is pleased to offer for sale the fee-simple interest in a CVS (the “Property”, or “Asset”) located in Stone Mountain, Georgia. Situated on the signalized intersection of Rockbridge Road and Deshon Road, this CVS benefits from the dense and affluent population of Stone Mountain. With three years remaining on their double net lease and an option period remaining, CVS will seek to continue operations at this location, as it is the only national brand pharmacy within three miles of the Property. Additionally, the Property is proximate to Georgia’s most visited attraction, Stone Mountain Park, drawing over 4 million visitors annually. This offering represents the opportunity to acquire a short-term investment with upside potential through lease renegotiation and strong residual value in the underlying real estate.
- Short-Term Investment with Upside Potential: CVS has three years remaining on their double net lease with one option period remaining, allowing investors to capitalize on arbitrage through lease renegotiation.
- Continued Renewals Anticipated: CVS has renewed their original lease twice, once in 2011 and once in 2016; their commitment to this location is expected to continue due to the outstanding market share and optimal positioning within this prime retail corridor.
- Guaranteed Cash Flows: The lease is guaranteed by CVS Center, Inc., providing security in the stream of cash flows.
- Proximity to Stone Mountain Park: the Property is located just a few miles away from Stone Mountain Park, Georgia’s most visited attraction. With over 4 million visitors annually, the Property benefits from increased traffic to the region.
- Outstanding Market Share: This CVS is the only freestanding pharmacy within three miles of the subject Property. This indicates CVS will desire to continue operations at this location to maintain their strong market share in this region.
- Surrounded by Other National Brand Retailers: Surrounding the Property, national brands such as Publix, McDonald’s, Sherwin-Williams, Pizza Hut, PNC Bank, Zaxby’s, AutoZone and others demonstrate the strength of this location.
|Property Subtype||Single Tenant / Stand-alone|
|Tenure Type||Sale / Purchase|
|Property Address||7207 Rockbridge Rd, Stone Mountain, GA 30087-6320|
|Land In Acres||1.24|
|Building Size||10,125 ft2|
|Tenant's Name||CVS Caremark Corporation|
|Lease Expiration Date||01/31/2022|
Download Offering Memorandum
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