506 E 3rd St | Jackson, GA 30233
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506 E 3rd St
Jackson, GA 30233
CVS · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Absolute NNN CVS/pharmacy at the Four-Way Signalized Intersection of Covington Street & East 3rd Street with Over 22,000 VPD
- One of the Lowest Price CVS Assets on Market - Rent at Just $177,197 ($17.50 Per SF)
- Corporate CVS Guarantee - CVS Health Ranks 4th on the Fortune 500
- Long Term Occupancy Since 1999 and Recently Exercised 5-Year Option Showing Tenant Commitment to the Site
- Site Faces No Competition - No Proximate CVS and Nearest Walgreens is Over 25 Minutes Driving Distance Away
EXECUTIVE SUMMARY
*CVS/pharmacy with Zero Landlord Responsibilities: Absolute NNN CVS/pharmacy Located at the Heavily Trafficked and Signalized Four-Way Intersection of Covington Street and East 3rd Street with Over 22,000 Vehicles Passing Each Day
*Long Term Occupancy with Recent Lease Extension: CVS/pharmacy has Occupied This Site Since 1999 and Recently Exercised Its First 5-Year Renewal Option Demonstrating Tenant Commitment to this High Volume Unit
*One of the Lowest Priced CVS Units On-Market: With Rent at Just $177,197 Annually ($17.50 Per Square Foot), This Asset is One of the Lowest Priced CVS Properties Available for Purchase Providing Elevated Investor Security
*Strategic Location with No Competition: This CVS/pharmacy Benefits from Extremely Limited Pharmacy Competition with No Alternative CVS Nearby and the Closest Walgreens Roughly 25 Minutes Northwest
*Active Retail Corridor Surrounded by National Retailers: Subject Property is Positioned Near Many of the Nation’s Most Successful Retailers Including McDonald’s, Taco Bell, AutoZone, Burger King, and Advance Auto Parts, Among Many Others
*Investment Grade Credit: Lease Corporately Guaranteed by CVS Health, the 4th Ranked Company in the Fortune 500 with an S&P Credit Rating of BBB and Over
$268 Billion in Total Revenue (2020)
*Long Term Occupancy with Recent Lease Extension: CVS/pharmacy has Occupied This Site Since 1999 and Recently Exercised Its First 5-Year Renewal Option Demonstrating Tenant Commitment to this High Volume Unit
*One of the Lowest Priced CVS Units On-Market: With Rent at Just $177,197 Annually ($17.50 Per Square Foot), This Asset is One of the Lowest Priced CVS Properties Available for Purchase Providing Elevated Investor Security
*Strategic Location with No Competition: This CVS/pharmacy Benefits from Extremely Limited Pharmacy Competition with No Alternative CVS Nearby and the Closest Walgreens Roughly 25 Minutes Northwest
*Active Retail Corridor Surrounded by National Retailers: Subject Property is Positioned Near Many of the Nation’s Most Successful Retailers Including McDonald’s, Taco Bell, AutoZone, Burger King, and Advance Auto Parts, Among Many Others
*Investment Grade Credit: Lease Corporately Guaranteed by CVS Health, the 4th Ranked Company in the Fortune 500 with an S&P Credit Rating of BBB and Over
$268 Billion in Total Revenue (2020)
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,960 SF
Building Class
C
Year Built
1999
Price
$2,904,900
Price Per SF
$265.05
Cap Rate
6.10%
NOI
$177,197
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.20 AC
Parking
40 Spaces (3.65 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | J0130-064-000 | Improvements Assessment | $201,806 |
| Land Assessment | $114,664 | Total Assessment | $316,470 |
PROPERTY TAXES
Parcel Number
J0130-064-000
Land Assessment
$114,664
Improvements Assessment
$201,806
Total Assessment
$316,470
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