CVS - Stone Mountain

7207 Rockbridge Rd Stone Mountain , GA 30087-6320

CVS - Stone Mountain - Retail for sale

Download Offering Memorandum

Overview


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.

Investment Highlights


  • Fee simple interest
  • Short-term investment with upside potential
  • Three years remaining on an NN lease with one option period remaining
  • CVS has renewed original lease twice; continued lease renewals anticipated
  • Lease is guaranteed through CVS Center, Inc.
General
Property Type Retail
Property Subtype Single Tenant / Standalone
Tenure Type Sale / Purchase
Property Address 7207 Rockbridge Rd, Stone Mountain, GA 30087-6320
Land In Acres 1.24
Building Size 10,125  ft2
Financial
Price $3,150,000
Cap Rate 7.08%
Current NOI $223,154.00
Lease
Tenant's Name CVS Health
Lease Type NN
Annual Rent $223,154.00
Lease Expiration Date 01/31/2022
Remaining Term 2.5Yrs