12070 Crabapple Rd - Drug Store FOR SALE


Roswell, GA 30075
$4,350,000 USD
404-832-1251
12070 Crabapple Rd, Roswell, GA for Sale
$4,350,000 USD
Drug Store - FOR SALE
1/5
null | 6.5% Cap Rate

12070 Crabapple Rd
Roswell, GA 30075


HIGHLIGHTS

  • CVS on hard corner in one of the Atlanta MSA's strongest suburbs
  • Extremely affluent suburb with $230k Average Household Incomes
  • Excellent historical occupancy, as tenant has been in their space for 26 Years and has strong growing sales
  • Outstanding Sales & Low Rent to Sales Ratio of 2.9%
  • Limited differed maintenance. Newer roof with warranty
  • Large 2.1 Acre site which provides future redevelopment opportunities

OVERVIEW

Franklin Street is pleased to present this freestanding CVS Pharmacy in Roswell, Georgia, a dynamic suburb of Atlanta situated in Fulton County. Roswell has experienced impressive growth and development over the years. The area is surrounded by many of MSA's top rated public schools, making it an attractive place for families to settle. This site was developed in 1998 for CVS and they have continued to operate here since and have exercised serval options at their contracted rent. CVS recently exercised a 5 year option renewal further showing their commitment to the site and do have another option remaining. This could potentially allow for a new investor to negotiate a new long term lease with CVS, as there is not another strong corner they could move to and today's cost of construction would cause the rents to be substantially higher than what they are paying here. The location's sales have been very strong nearing $10M providing a high likelihood of them staying. The location is within one of the most affluent suburbs of Atlanta with $230K household incomes in the 3 mile radius. Nearby daily driver retailers include Publix, Kroger, Chase Bank, Dollar General, McDonalds, Starbucks, among others. The roof was recently replaced and has a remaining warranty on it, while the tenant is fully responsible for CAM, taxes, and insurance. CVS, at their expenses, recently fully renovated the restrooms and installed a new lift station further showing their long term commitment to the location.

FOR SALE DETAILS

PRICE

$4,350,000 USD

PRICE/SF

$430 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS Crabapple

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

2.1 AC

LAND SF

91,476 SF

ZONING

C3C, Roswell

APN/PARCEL ID

22-3730-1283-188-4

ASK ABOUT THIS PROPERTY

Bryan BelkFranklin Street Real Estate ServicesMore Info
404-832-1251

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Bryan BelkFranklin Street Real Estate ServicesMore Info
404-832-1251

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.