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CVS - NNN Jennings Louisiana 1204 Elton Rd
13,348 SF Retail Building Jennings, LA 70546 $3,958,400 ($297/SF) 6% Cap Rate
Investment Highlights
- Fair Market Value Options
- Investment Grade Tenant
- Major Retail Corridor
- Drive-Thru
- Long-Term Operator
Executive Summary
Traffic counts at this intersection are over 34,500 cars per day, and it is on the dominant commercial corridor in Jennings.
The Property consists of over 1.5 acres, outparcel to a Dollar General anchored retail center. The 13,348 square-foot CVS Pharmacy was built in 2015. The property is synergistically located less than 1-mile from the Jennings American Legion Hospital.
The lease is absolute net; the landlord has zero responsibilities. CVS operates almost 10,000 locations in the US and employs approximately 260,000 employees, generating over $170 billion in total revenue. CVS Health has an investment grade credit rating by all major rating agencies including a BBB+ rating with a stable outlook from Standard & Poor’s Rating Services. The lease has no “rent holidays”.
INVESTMENT HIGHLIGHTS:
-Fair Market Value Options: Many CVS investments have minimal rent increases, and if market rent in an area outpaces the rent increases, the CVS owner’s cash flow doesn’t keep up. Assuming 2.0% annual inflation over the current rent, this CVS’s first fair market value option could be over $456,000 per year, a 92% increase in rental income to the Owner.
-Drive-Thru: This store features a convenient Drive-Thru pharmacy window, offering convenient pick up for customer prescriptions.
-Investment Grade Tenant: The lease is fully guaranteed by CVS Health Corporation, one of the world’s most valuable brands and ranked #4 on the Fortune 500 list. CVS Health has an investment grade credit rating by all major rating agencies including a BBB+ rating with stable outlook from Standard & Poor’s.
-Long-Term Operator: The Property has housed CVS since 2015, and with options their tenancy can extend to 2091.
-Major Retail Corridor: CVS is operating at one the busiest commercial intersections in Jennings, with traffic counts over 26,000 cars per day.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Amenities
- Signalized Intersection
- Drive Thru
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
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- Retailer
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- -
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Lorem Ipsum
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Jan 0000
CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
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|
Retailer | - | - | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 221864409 | Improvements Assessment | $345,000 |
| Land Assessment | $80,000 | Total Assessment | $425,000 |
PROPERTY TAXES
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CVS - NNN Jennings Louisiana | 1204 Elton Rd
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