3001 Lone Oak Rd - Drug Store FOR SALE


Paducah, KY 42003
$3,880,000 USD
760-438-8950
3001 Lone Oak Rd, Paducah, KY for Sale
$3,880,000 USD
Drug Store - FOR SALE
1/18
null | 5.75% Cap Rate

3001 Lone Oak Rd
Paducah, KY 42003


HIGHLIGHTS

  • CVS absolute NNN lease with 14 years remaining
  • No rent holiday
  • drive thru

OVERVIEW

Colliers is pleased to present the opportunity to acquire an absolute NNN-leased CVS Pharmacy with +14 years of remaining term and no rent holiday in Paducah, KY. The property was built in 1999 for CVS. In 2019, CVS agreed to a rare 20-year lease extension confirming CVS’s commitment to this trade area and building location. Attractively located in the low-income tax, southern state of Kentucky, CVS is paying a modest annual rent of $223,100. The $3,880,000 price offers an investor a very high-credit corporate guarantee at a low price point rarely found in the market. The property is available debt-free. The owner is currently offering for sale two similar CVS properties in Gadsden, AL and Black Mountain, NC. Both with 20-year extensions in 2019, absolute NNN leases, no rent holidays, and low-price points ranging from $2,975,652 and $3,306,000. The three (3) properties can be purchased individually or as part of a portfolio acquisition.

FOR SALE DETAILS

PRICE

$3,880,000 USD

PRICE/SF

$383 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS Pharmacy

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

43

LAND DETAILS

LAND ACRES

1.01 AC

LAND SF

43,996 SF

ZONING

C

APN/PARCEL ID

088-34-08-006

ASK ABOUT THIS PROPERTY

Jon BusseColliersMore Info
760-438-8950

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Jon BusseColliersMore Info
760-438-8950

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