By submitting the form, you agree to the terms and conditions of our Confidential Disclaimer.
INVESTMENT HIGHLIGHTS
Lowe’s Outparcel - The Property is strategically located along Boone St as an outparcel to Lowe’s Home Improvement, offering excellent visibility and accessibility. The Property is further surrounded by other national retailers like Walmart and McDonald’s, as well as multiple hotels, making it ideal for continued retail operations.
Proximity to Medical Centers - The Property is adjacent to a Peachtree Immediate Care, and only 2.5 miles from the Southeast Georgia Health System-Camden Campus. This campus features a 40-bed acute care hospital, a 24-hour emergency center, a cancer care center, and more.
Absolute NNN Ground Lease - CVS is operating under an Absolute NNN ground lease, with zero landlord responsibilities.
Premier Location with Proximity to Major Economic Drivers - Located along a busy commercial corridor, the Property offers strong visibility and easy access. It benefits from a well-established customer base, with national retailers and local businesses nearby, as well as convenient connections to key transportation routes.
Dense Demographic Base - The Property benefits from strong demographics within a 5-mile radius with 38,512 residents earning an average household income of $93,148.
Lack of Competition - The Property is the only CVS Pharmacy in the town of Kingsland, GA, which provides a unique opportunity to own an asset with minimal competition in the area.
Rent Increases - With the lease approaching the option periods, there are upcoming scheduled rental increases of five percent (5%), every five (5) years. This contrasts with most of the drugstore leases in the market where lease terms are generally flat with no rent growth over long periods of time.
Low Cost Basis - The average price for a CVS or Walgreens is around $4mm-$5mm. At a $2,282,609 price point, the cost to acquire this CVS asset is approximately half the average. This feature provides protection against the downside. It also provides potential upside if CVS ever vacates as replacing them with a tenant paying market rents could result in a higher NOI and value.
