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.