1271 Gray Hwy - Drug Store FOR SALE


Macon-Bibb, GA 31211
$4,801,000 USD
917-741-1525
1271 Gray Hwy, Macon-Bibb, GA for Sale
$4,801,000 USD
Drug Store - FOR SALE
1/2
null | 5% Cap Rate

1271 Gray Hwy
Macon-Bibb, GA 31211


HIGHLIGHTS

  • Top 96th performer for the CVS chain in the state of GA
  • Very high traffic counts of 38,300 and 22,300 vehicles per day
  • Two large pylon signs on a hard corner with excellent visibility
  • Tenant just exercised their second of six 5-year options with a 5% rent escalation
  • Rent is very low at $20.29 PSF
  • Store and Pharmacy are open 24 hours a day

OVERVIEW

HMX Realty Advisors is pleased to offer a high-performing CVS Pharmacy for sale. The store and pharmacy are open 24 hours a day, seven days a week. It is located on a highly visible corner along Gray Highway, which sees 38,300 vehicles per day, plus 22,300 on the side street. The tenant is in the second of their six 5-year options. Each option has a 5% rent escalation. The store is 11,288 sf on 1.42 acres. This is an excellent opportunity to buy a CVS with 5% escalations every five years versus a flat lease. Given the stores high performance, with the store and pharmacy open 24-hours a day, it is anticipated that CVS will likely exercise all of their 4 remaining options each with 5% escalations. This CVS is the top performing store out of 27 locations within 50 miles and outperforms 83% of all CVS stores nationally. The rent is $20.29 per square foot, which is low for a store that performs so well.

FOR SALE DETAILS

PRICE

$4,801,000 USD

PRICE/SF

$468 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

24-Hr CVS Top Sales

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.28 AC

LAND SF

55,757 SF

ZONING

C-4

APN/PARCEL ID

R064-0148

ASK ABOUT THIS PROPERTY

Robert JamesHMX Realty AdvisorsMore Info
917-741-1525

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Robert JamesHMX Realty AdvisorsMore Info
917-741-1525

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