The subject property boasts a long term absolute NNN Lease, with approximately 20 years of primary term remaining. Under an absolute NNN lease, the tenant is responsible for all operating expenses, taxes, insurance, and repairs and maintenance of the building and parking lot thus resulting in zero Landlord obligations.
CVS Pharmacy is owned by CVS Health Corporation (S&P: BBB) the largest retail pharmacy chain in the US. Headquartered in Woonsocket, RI. CVS is the largest pharmacy chain in the US with over 9,900 retail locations and more than 295,000 employees.
CVS is strategically located along Highway 67 (33,000 VPD), with on/off ramp access in a dense retail corridor of Decatur, AL. The subject property is well positioned at the signalized hard corner intersection of Highway 67 and Spring Avenue SW (Intersection 45,600 VPD). The subject property’s hard corner location adds to the intrinsic real estate value of the asset. CVS’s Drive-Thru window also provides additional value as Drive-Thru’s have been proven to increase sales.
The subject property is located in Decatur, AL, the largest city and county seat of Morgan County, and serves as the metropolitan area’s core city. The city has grown to be the busiest river port on the Tennessee River, which has led to twelve Fortune 500 companies opening plants in the city. Major employers include
General Electric, 3M, Wayne Farms, United Launch Alliance, Nucor, Bunge Limited, Daikin, Hyosung, Ascend Performance Materials, and TVA.
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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.