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 bligations.
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 positioned at the signalized intersection of N Friendship Road and Lone Oak Road (39,600 Intersection 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 Paducah, KY, the county seat of McCracken County, Kentucky and the largest city in the Jackson Purchase region. Paducah is located halfway between St. Louis, Missouri, 138 miles to the northwest and Nashville, Tennessee, 121 miles to the southeast. The city serves as the hub of its surrounding micropolitan area, including McCracken, Ballard and Livingston counties in Kentucky and Massac County in Illinois.
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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.