CVS For Sale
There are a number of different types of CVS properties for sale when compared to other freestanding net leased tenants.
CVS property for sale can range in square footage, tenant operations, building type, lease structure and ownership structure. These factors directly impact the value of any CVS for sale and should be considered in addition to the typical valuation factors of real estate quality and lease term remaining before the options. Some CVS for sale are zero cash flow ownership structures where the entire rental payments go to the lender to pay down the debt giving the landlord zero cash flow during the primary lease term. Many times these CVS properties for sale have a rent holiday for CVS at the end of the primary term before the lease options.
These zero cash flow CVS investments are valued completely differently than the typical CVS for sale. Most CVS for sale are fee simple ownership structures; however, there are some CVS for sale that are infill ground lease structures that may have increases in the primary lease term or have larger increases in the renewal option periods versus a typical CVS lease. Another ownership type that is more prevalent with CVS for sale are the leasehold ownership structures. These CVS properties have a ground owner but then also a leasehold position that can become available for sale.
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Another differentiator between CVS properties for sale is the lease structure.
Some CVS for sale are absolute net with zero landlord responsibilities and other CVS for sale are double net with varying landlord responsibilities. Of the double net CVS property for sale some have roof, structure or parking lot responsibilities and some may have reimbursable expenses pertaining to common areas if located within a shopping center. CVS properties all have varying business operations which directly affect store profitability.
CVS properties for sale have a minute clinic or are 24 hour operations which are preferred by many net lease investors. Most CVS stores for sale have store operating hours until 8 PM to 10 PM. Some CVS stores may have beer, wine or liquor sales as well.These are all smaller factors that help investors value CVS for sale especially when stores sales volumes are not available to the landlord. If a CVS for sale has a few of these positive subtle differences over another CVS for sale then it provides comfort to an investor in the likelihood of CVS remaining as a tenant for years to come.
In addition to these factors, two main drivers in pricing of CVS property for sale are the primary lease term remaining before the renewal options and the real estate quality. CVS for sale that have over 15 years of primary lease term before the options may trade 125 basis points lower or more versus other CVS properties that have less than 5 years of lease term remaining. As with most net leased properties, the main value is the credit strength of the tenant and the lease in place but obviously all investors regardless of property type consider the real estate quality.
The difference with CVS for sale is that an investor must understand the backfill rent per square foot and compare that with the likelihood of CVS renewing the lease to see if they are purchasing the risk at a fair CAP rate. The factors mentioned in this article will allow any investor considering a purchase of a CVS investment a way to gauge value between one CVS for sale versus another CVS for sale when real estate quality is even. Due to these varying factors in CVS properties for sale it’s important to work with a broker who has a firm understanding of drugstore properties and who has closed a variety of CVS properties for sale.
Does CVS own real estate?
CVS owns some of their real estate that they have either developed internally or purchased through acquiring another pharmacy chain. Over the years, CVS has sold many locations that they developed through sale leasebacks.
How big is the average CVS?
CVS buildings typically range from 9,000 square feet up to 30,000 square feet. Most CVS freestanding buildings are in the 10,000 square feet to 16,000 square feet range. There are some CVS buildings, mostly in California, that are shopping center anchors or supplementary inline space that are over 20,000 square feet.
- This location is reporting ±$16 million is sales and has experienced year-over-year increased sales volumes which are now 30% higher versus 2020.
- CVS has been operating here for nearly 25 years and recently extended their lease early to 15 years with 5%rental increases in the options.
- In 2023, the Property had major capital improvements including a new roof, parking lot restripe/sealing and exterior building updates.
- This is the only standalone national brand drugstore within a 5-mile radius.
- Household income in a 3-mile radius of the subject property is $108,513.
- Property to be delivered free and clear of debt. There are no rent holidays.
- Absolute net lease with no landlord responsibilities whatsoever.
- Future sales growth as CVS transferred all customer prescription files from another CVS that recently closed down 2.7 miles away.
- Over 20 year operating history and CVS renewed first option at escalated rents.
- Near HCA Florida Trinity Hospital with 240 beds and 1,400 employees (2.5 Mi SE).
- Strategic location on signalized corner directly across the street from Walgreens with traffic counts of roughly 50,000 VPD.
- Limited competition in 1-mile radius as one of only two drugstores serving ±11,000 residents in ±4,800 households.
- Near residential and senior housing with three assisted living facilities within two miles and located at the main entry of ±700 residences.
- CVS recently extended the lease an additional 10 years showing commitment to this location.
- CVS closed a nearby store (3.9 Mi S) and transferred prescriptions to this location adding to customer base.
- Monroe Road is one of the major thoroughfares heading south from Charlotte towards Matthews and connects commuters heading into Downtown Charlotte.
- Infill Charlotte area demographics include almost 300,000 residents with an average household income of $100,609 within a 5-mile radius.
- Signalized corner with heavy combined traffic count on N Sharon Amity and Monroe Road of over 43,000 vehicles per day.
- Near major regional hospitals Novant Health Presbyterian Medical Center (622 beds), Atrium Health Carolinas Medical Center (874 beds) and Atrium Health Mercy (185 beds).
- Adjacent to Sierra View Medical Center with 167 beds and 600 employees. The next nearest hospital is 25+ miles away.
- Limited Walgreens competition with no other Walgreens for 20+ miles and serves over 30,000 households in the surrounding area.
- Buyer has the opportunity to assume debt in place, the existing 5.65% loan is assumable for 1% fee and is due August 2026.
- Medical corridor location with ±600,000 square feet of medical space in a 1-mile radius.
- Absolute net lease with no landlord responsibilities whatsoever.
- Two blocks north of the West Campus of Maine's State Capitol Buildings.
- Two Government campuses totaling 1.59 million square feet within a 1-mile radius.
- Maine General Health's Augusta Hospital is the largest private employer serving 88 cities in the region.
- Augusta and its downtown area are Designated Opportunity Zones.
- Walgreens is reporting above average annual sales.
- Less than 1.5 miles from Research Triangle Park (7,000 Ac.) with over 375 companies including Alexandria, Bayer, Cisco and IBM. There are more than 60,000 employees with combined annual salaries of ±$2.7 Billion.
- Major developments within 3 miles include a $2 Billion mixed-use project (1 Million SF) with office, life-sciences, multi-family residential, hotel at HUB RTP and the conversion of Southpoint Mall to multi-family residential, office space, hotel and retail space.
- Affluent and dense demographic region with population of ±127,000 people with an average household income of ±$108,000 in a 5-mile radius.
- Over 685,000 SF of retail space in the immediate 1-mile radius with national tenants such as Starbucks, Food Lion, Big Lots, Dollar Tree, McDonald's and Chick-fil-A.
- Located on the corner of East NC Highway 54 and NC Highway 55 (combined 53,500 VPD) with direct access to Interstate 40 (131,000 VPD).
- Absolute net lease with no landlord responsibilities whatsoever.
- One mile west of Interstate 4 with 130,000 vehicles per day.
- Medical corridor location just a half mile from Debary Health & Rehabilitation Center (120 Beds).
- Just north of Orlando near Disney World and Daytona Speedway.
- Amazon fulfillment center nearby with 1 million square foot facility 7 miles northeast and 130-acre Portland Industrial Park coming in 2024.
- Walgreens has exceptional annual reported sales and a 14+ years of operating history.
- No immediate national drugstore chain competition with the next closest national chain drugstore being a CVS 91 miles west and the closest Walgreens is 98 miles east.
- District 177, a $75 Million redevelopment project located across the street including 96 apartments and ±480K SF of street-level retail space.
- Great Plains Health Hospital is located 1 mile southwest with 116 beds, 1,100 employees and 183K patients per month.
- Sustainable Beef's $325 Million facility is located 2.5 miles southeast and is opening Summer 2025 with 500K SF and projected to add 875 new jobs.
- Dense retail corridor with 1.6 million square feet of retail space in a 1-mile radius.
- Near Union Pacific's Bailey Yard, the largest railroad yard in the world with 14K rail cars per day.
- New developments within 2 miles include Evolve at Waterford, Exchange at Westgate, Brunswick Forest and Inspire at Brunswick Forest totaling 1,178 units.
- 1 million square feet of retail space in the immediate 1-mile radius anchored by Aldi, Harris Teeter and Walmart Supercenter.
- Located on a signalized corner with frontage on Ocean Highway E (56,000 VPD) and with direct access to Andrew Jackson Highway NE (71,000 VPD).
- Leland’s population increased 70% from 2010 to 2020 and is currently growing at a rate of 8.25% annually.
- Positioned less than 2 miles from Novant Health Brunswick Forest Medical Plaza which services the Greater Leland market.
- With a 2.5% corporate tax rate, North Carolina is continually ranked as one of the best business climates in the United States. CNBC named the state as America’s top state for business.
- There are over 12 years of lease term remaining with 10 (5 year) options to follow.
- Only national chain drugstore for over 22 miles.
- The Property is located in a Designated Opportunity Zone.
- Â 1 mile South of Marion General Hospital (49 beds), the main hospital for Columbia and across the street from Fast Past Health Urgent Care.
- Located in the only shopping center anchored by national retail tenants for over 20 miles and there is 715,000 square feet of retail space in a 1-mile radius.
- Situated at the intersection of Sumrall Road and US-98 (traffic counts of 38,000 VPD) which serves as the east/west connector between Hattiesburg and McComb.
- Recently constructed in 2014, Walgreens still has ±15 years of firm lease term remaining before the option periods.
- Only national brand drugstore in a 15-mile radius.
- Located less than 2 miles away, Scotland Memorial Hospital consists of 104 beds and serves as the area's largest private employer, with over 1,000 full-time and part-time employees.
- 1.7 million square feet of retail space in a 1-mile radius anchored by Walmart Supercenter, Lowe’s Home Improvement, Tractor Supply Co, Harbor Freight Tools and Big Lots.
- SO-PAK-CO, Inc., a food processor and packager, invested $85 million to build a state-of-the-art processing and packaging facility creating 440 new jobs coupled with Tesla installing a new Supercharger Station.
- Located on US Highway 401 S (15,500 VPD) and directly off the ingress/egress of US Highway 74 (22,000 VPD).
- Walgreens extended this lease by 10 years in March of 2024 showing commitment to this location.
- This is an absolute net lease with no landlord responsibilities whatsoever.
- Walgreens is reporting exceptional sales volumes at this location.
- The lease allows for 5% rental increases at each of the options.
- Within a 5-mile radius, the household income is $117,632 with a population of 128,470 residents.
- More than 1 million square feet of medical space in a 5-mile radius including WakeMed Hospital (61 beds) located 3.6 miles southwest and UNC Rex Healthcare Surgery Center (outpatient) just 1.3 miles northeast.
- Over 2,000 apartment units within a 1-mile radius including two blocks from an independent senior living complex with 121 units.
- Walgreens has a history of strong reported sales volumes at this location.
- Less than 1 mile of ThedaCare Regional Medical Center which is the region's largest employer (7,000+ employees, 172 beds).
- Dense retail and industrial trade area with 6.2 million square feet of retail space and 8.3 million square feet of industrial space in a 3-mile radius.
- Located directly across the street from Edenbrook Nursing Home (150 beds) and 0.7 miles from Rennes Health and Rehabilitation Center (88 beds).
- Appleton is the 6th largest city in Wisconsin with a population of 143,000 in a 5-mile radius.
- Located at the signalized hard corner with strong combined traffic count of 30,000 VPD and blocks from Interstate 41 with traffic count of 76,200 VPD.
- Only Walgreens in a 12-mile radius serving the entire Eaton market.
- Kettering Medical Center is the only 24-hour emergency medical center in Preble County, Ohio.
- In 2023, Neaton Auto Parts and Henny Penny pledged over $29 million in expansions, bringing over 330,000 square feet of R&D and warehouse space to the Eaton market.
- 1.4 million square feet of retail in the immediate 1-mile radius anchored by Walmart Supercenter.
- Kroger announced plans in August 2023 to build a 72,000-square foot store that will employ 100 workers.
- Walgreens has a 16+ year operating history at this location.
- Over 12 million square feet of industrial space in a 5-mile radius including major companies like Hyundai and FedEx.
- Opposite corner to CVS and next Walgreens 4.4 miles away making this a strategic location for both Walgreens and CVS.
- There are 844 multifamily units within the immediate 1-mile radius.
- Centrally located between three major interstates that connect Shreveport west to Dallas/Ft. Worth, TX, south to Baton Rouge/New Orleans, LA and west to Jackson, MS.
- Within two blocks of the property are located a high school, junior high and elementary school with a combined 2,481 students.
- Just 3 miles west of Shreveport Regional Airport with 560,000 annual passengers.
- The Property is located in a designated Opportunity Zone.
- Walgreens extended this lease by 10 years in March of 2024 showing commitment to this location.
- This is an absolute net lease with no landlord responsibilities whatsoever.
- The lease allows for 5% rental increases at each of the options.
- Walgreens is reporting exceptional sales volumes at this location with a rent-to-sales ratio of 2.14%.
- Only freestanding national brand drugstore within a 10-mile radius. Nearest Walgreens is 10.5 miles southwest and nearest CVS is 12.5 miles southwest.
- Walgreens is guaranteeing approximately $327,375 of income over the remainder of their lease term.
- Walgreens had been reporting strong sales volumes at this location of over $7M annually. The retailer moved to a smaller store format as an outparcel to the adjacent center showing commitment to this retail corridor.
- DRB Homes has recently constructed 350 new homes to meet growing demand.
- Directly on US Highway 1 which is the main thoroughfare connecting Franklinton to Raleigh.
- Franklin County's population grew by 13% in the last 10 years.
- Only 7,000+ square foot owner/user redevelopment opportunity within 35 mile radius.
- Lease allows for 10% rental increases every 10 years in the options.
- Less than a mile from University of Maine Fort Kent with 915 students enrolled.
- Less than a mile from Clair Fort Kent Bridge, allowing access to customers in both the United States and Canada.
- High visibility location with frontage on E Main St with 8,626 VPD.
- Walgreens recently added 10 years of lease term after exercising two of its options early and now has 9 (5 year) options to follow.
- Just 9.7 miles southwest of Downtown Tulsa, a metropolitan area with a population of over 1,000,000 people.
- Busy signalized intersection directly on Hwy. 97 which is the main north/south thoroughfare through Sand Springs with a combined traffic count of nearly 28,000 vehicles per day.
- Tenant is responsible for all building/occupying expenses and there are no landlord responsibilities whatsoever.
- Just two miles west of Tulsa Community College West Campus which enrolls ±20,000 across 4 Tulsa campuses.
**CONTACT BROKER FOR PRICING**
- Only drugstore in a 11-mile radius serving the entire Roseboro market.
- There are over 14 years of lease term remaining with 10 (5 year) options to follow.
- North Carolina Welding, LLC, purchased 17 acres from Sampson County as part of their expansion in Roseboro, adding to the existing 359,000 square feet of industrial space in a 1-mile radius.
- Centrally located between Fayetteville and the U.S. Interstate 40.
- Located in the only national grocery store anchored retail center in Roseboro.
**CONTACT BROKER FOR PRICING**
- Walgreens has an 11 year operating history here and this location has been operating as a pharmacy since 2007.
- There are over 14 years of lease term remaining with replaceable market rents and 10 (5 year) options to follow.
- Troutman’s population increased 44% from 2019 to 2024 and is currently growing at a rate of 8.8% annually.
- In 2021, less than a mile and a half from the Property Walmart completed construction of a new 1-million square foot distribution center, adding 500 full time jobs.
- 1.5 Miles from Subject Property, Walmart recently completed construction of a new 1-million square foot distribution center adding 500 full time jobs.
**CONTACT BROKER FOR PRICING**
- Over 14 years of lease term remaining with 10 (5 year) options to follow.
- Only Walgreens in a 18-mile radius serving the entire Fremont market.
- Close proximity to major health providers such as Corewell Health Gerber Memorial and Newaygo Medical Care Facility.
- Short distance from to Gerber/Nestlé Research and Development Center, largest employer in Fremont.
- Situated with frontage on West Main Street (traffic counts of 14,500 VPD).
- Walgreens has a 16 year operating history at this location.
**CONTACT BROKER FOR PRICING**
- Only national chain drugstore in a 4-mile radius and only drugstore serving the area west of the Ouachita River.
- Walgreens has a 15+ year operating history at this location.
- Situated with frontage on Airport Road (26,000 VPD) leading to thermal hot springs which draw ±2.6 million tourists annually.
- 430 multi-housing units within a 1-mile radius of the Property spread throughout multiple complexes.
- There are over 14 years of lease term remaining with 10 (5 year) options to follow
- Amazon recently announced a new 35K SF facility in Hot Springs.
**CONTACT BROKER FOR PRICING**
- Over 14 years of lease term remaining with 10 (5 year) options to follow.
- National retailers TownPlace Suites by Marriott, Aldi, Neuens Auto and Kwik Trip are all expected to open new locations in Iron Mountain.
- Close proximity to major health providers such as Oscar G Johnson VA Medical Center and Marshfield Medical Center.
- Marshfield Medical Center’s Cancer Center expansion 1.4 miles SE of the Property is nearing completion later this year.
- Situated with frontage on US-141 (traffic counts of 20,000 VPD).
- Only national brand name drugstore in a 47-mile radius serving the entire Iron Mountain market.
**CONTACT BROKER FOR PRICING**
- Walgreens has a 16 year operating history at this location.
- Medical corridor location with 800+ medical beds combined and closest Walgreens to local hospitals.
- Affluent infill demographics with $139K HH income in 3mi radius and over 155,000 residents in a 5-mile radius.
- New developments within a 2-mi radius of the Property including a 38K SF medical office, a 200 acre mixed-use project and a 248-unit multifamily complex.
- Over 1.6 million SF of retail space in the immediate 1-mi radius as well as 9 hotels with a total of about 894 rooms.
- Walgreens is paying below market rents at $15.58 per square foot. Market rents in the area are approximately$21-$23 per square foot.
Recently Sold Drugstores
- Located at merge of freeways I-69 and I-2. Both interstates have a combined traffic count of over 150,000 vehicles per day.
- Surrounded by national retail tenants, ±3.2 million square feet of retail space within 1 mile radius including Valley Vista Mall (651,000 SF) and Bass Pro Shop (150,000 SF).
- Strong cross-border economy with the Free Trade Bridge 13 miles away, a full US Customs facility accommodating 75 commercial trucks simultaneously.
- Vacation and resort destination location including Disney World, Universal Studios & Island of Adventure and SeaWorld.
- Retail corridor near industrial sector including 7.8 million square feet of retail space in a 3-mile radius.
- Within 5 miles of 14.4 million square feet of industrial space.
- Major regional employers Walt Disney World, Advent Health, Universal Orlando and Orlando Health.
- Both store and pharmacy are open 24 hours.
- Baptist Hospital of Southeast TX and Christus Southeast TX Hospital both within 1.5 miles with a total of 931 beds.
- Across from Gateway Shopping Center which contains ±460,000 square feet of retail space.
- Direct access to I-10 (±130,685 VPD) via College Street on signalized intersection with ±44,328 vehicles per day.
- Dense residential area with nearly 200,000 residents within a 5-mile radius.
- One mile south of Hwy. 385 (±151,399 VPD) and two miles southeast of I-240 (±180,699 VPD) making Downtown Memphis just a 15 minute drive away.
- Busy intersection with approximately 54,087 vehicles per day.
- Located on Hwy-580 one of the main thoroughfares connecting western Tampa to the Tampa International Airport and downtown Tampa.
- Â Near HCA Florida West Hospital with 515 beds and the Mease Countryside Hospital with 300 beds.
- Just 3.5 miles southeast from Tampa Bay Downs which has approximately 24 million visitors annually.
- Located in main retail corridor with 7.9M square feet of retail space within 3 miles.
- Approximately 316,993 residents within a 5-mile radius.
- Zoned RCC in Clackamas County with various development opportunities such as retail, multi-family and office.
- Absolute NNN lease with no landlord responsibilities whatsoever.
- Just 4 miles north of Ohio State University with over 66,000 students and 29,000 employees.
- Riverside Methodist Hospital is about 3 miles south and has 1,059 beds and 5,800 employees.
- Outparcel to Target anchored Rolling Acres Plaza in main retail corridor across from Home Depot.
- Two miles from UF Health The Villages Hospital with 307 beds and approximately 1,161 employees.
- Located just south of The Villages, a collection of retirement neighborhoods in central Florida.
- Absolute net lease with zero landlord responsibilities and history of solid sales.
- ±7.5 million square feet of retail space and ±5.2 million square feet of office space in a 3-mile radius.
- High traffic intersection with ±92,000 vehicles per day and over 200,000 residents in a 5-mile radius.
- Chesapeake Regional Medical Center hospital is located ±2 miles south with 310 beds and ±3,000 employees.
- CVS has agreed to new 15-year lease with 10 (5-year) options with 5% increases in the options.
- Near 44-bed Central Harnett Hospital and only national brand drugstore in Lillington.
- Centrally located between Fayetteville and Raleigh along Highway 210.
- Lillington is the county seat of Harnett County who employ almost 54,000 employees.
- Philadelphia MSA location with over 6,100,000 residents and 20 miles SE of downtown Philadelphia.
- East of The Shoppes at Cross keys shopping mall on main thoroughfare of retail corridor.
- Walgreens signed a new lease extension showing commitment to this location.
- Walgreens reports exceptional sales volumes at this store located in the Los Angeles MSA.
- Affluent HH income in a 5-mi radius of ±$110k and located at a corner with conbined traffic of ±60k VPD.
- Four medical facilities totaling 665 beds are located within a 2.1 mile radius of the subject property.
- 24-Hr store and pharmacy reporting exceptional annual sales with ±13 yrs. remaining on an absolute net lease.
- Walgreens closed the Rite Aid across the street shifting much of that customer base to the subject property.
- Adjacent to Atrium Health Hospital (157-beds) full service hospital.
- One of the best performing Rite Aid stores in the Midwest.
- Rite Aid added 10 years to the initial lease term in June of 2015 with six (5 year) options and increases.
- Roof was replaced in 2015 with a 20-year transferable warranty. Building exterior was also renovated.
- Walgreens has 14 years remaining with ten (5-year) options to extend on an absolute net lease.
- Located directly across the street from a CVS making this a strategic corner for Walgreens.
- Atrium Health Hospital is 2.9 mi away with 101 beds and a 24/7 emergency department.
- Walgreens extended lease to a firm 15-yrs in August 2022 showing commitment to this location.
- Walgreens is reporting strong sales at this store that has a 15-year operating history.
- Virginia Beach has a population of ±1,500,000 and is the most populous city in VA.
- Near ±23.6M SF of retail space and adjacent to 128K SF center anchored by Lion Food who renewed for 10 yrs.
- Absolute net lease with 12 years remaining.
- Affluent area with solid incomes of over $110,000 in 1-mile radius.
- Part of the Virginia Beach-Norfolk-Newport News, VA-NC MSA with over 1,800,000 residents.
- South of Naval Station Norfolk with more than 82,000 active duty personnel and 39,000 civilians.
- Affluent infill location 19 mi. from downtown Chicago, avg. HH income is $112,272 and 260,961 residents in a 5-mi radius.
- Recently extended lease, total of 20 yrs. remaining before the 8 (5-year) options, NNN, 2.5% increases in the options.
- Located 1.4 mi. from Advocate Good Samaritan Hospital with 333 beds and over 3,600 doctors and staff on the signalized SEC of Roosevelt Rd. & S. Westmore Meyers Rd. with a combined traffic count of ±66,355 VPD.
- Located blocks from the Medical District of Memphis with four major hospitals totaling approximately 6.5 million square feet of medical space within a three mile radius.
- Located 2.5 miles outside of downtown Memphis and is part of the Memphis MSA with a population of over 1,340,000 residents.
- Across the street from a Kroger shopping center and near I-69 with traffic counts of over 124,706 VPD.
- High traffic count of 63,111 cars per day and located 3 miles from Highway 99 with approximately 137,000 cars per day.
- Wells Fargo subleases a portion of the space on an absolute net lease basis for an opportunity of supplemental income.
- Average HH income in a 1-mile radius is $79,529, in a 3-mile radius it is $83,335 and $77,942 in a 5-mile radius with a population of 251,698 in a five-mile radius.
- One of only ±400 Walgreens locations with an in-store healthcare clinic.
- Directly across the street from CVS making this a strategic location for both Walgreens and CVS.
- Surrounded by residential neighborhoods and located at Exit 246 of Interstate 10 ±12 miles northwest of downtown Tucson. Average household income is $90,069 in a three-mile radius and $83,659 in a five-mile radius and 281,588 in a ten-mile radius.
- Subject property is located in a two-mile radius of three different hospitals.
- Located in a retail hub with approximately 1.8 million square feet of retail space.
- 50 miles north of Tampa along at the central coast Gulf of Mexico.
- Five mile radius population is 82,480 and household income is $60.598.
- Approx. 13 yrs. of term remaining before 10 (5-year) options, double net lease, landlord responsible for parking only.
- The lease allows for five percent (5%) rental increases in each of the ten (five-year) options.
- The lease structure for this asset does not include a rent holiday.
- Located less than 0.2 of a mile from Russell Medical, a not-for-profit acute care hospital.
- Only national chain drugstore in Alexander City, next nearest Walgreens or CVS over 13 miles away.
- 14+ years of term remaining on an absolute net lease with eleven 5-year options to extend.
