301 American Ave - Drug Store FOR SALE


Booneville, MS 38829
$2,972,771 USD
847-562-9280
301 American Ave, Booneville, MS for Sale
$2,972,771 USD
Drug Store - FOR SALE
1/5
null | 6.5% Cap Rate

301 American Ave
Booneville, MS 38829


HIGHLIGHTS

  • CVS is an investment grade rated tenant (S&P: BBB)
  • Over 12 years remaining on the primary lease term
  • NNN lease – No landlord responsibilities
  • Low rent for a national pharmacy location
  • Corporate CVS guaranty
  • Operating history since 2010 which demonstrates commitment

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased CVS Pharmacy located in Booneville, Mississippi. The lease runs through January 2036 leaving over 12 years remaining on the primary term. CVS has been successfully operating at this location since 2010, demonstrating commitment to the site. The lease is triple net which presents no landlord responsibilities and has ten 5-year renewal options attached. The lease also features a corporate guaranty from CVS and a low rent figure compared to other national pharmacy locations. The 14,889-square-foot building is located along North 2nd Street a primary thoroughfare for the area that experiences over 11,000 vehicles per day. The property is surrounded by a number of nationally recognized retailers and several industrial tenants including Walmart, Tractor Supply Company, ACCO Brands, McDonald’s, O’Reilly Auto Parts, North American Pipe Corporation, and ProVia. The property also benefits from its proximity that is several blocks north of Northeast Mississippi Community College which hosts around 3,400 students. This CVS location has limited competition in the area with the nearest Walgreens being located over 18 miles north of the subject property. CVS Pharmacy is the nation’s largest drugstore chain and total prescription revenue and operates 9,900+ locations in 49 states, the District of Columbia, Puerto Rico and Brazil. CVS Pharmacy is a publicly traded company on the New York Stock Exchange (Symbol: CVS) with a market capitalization in excess of $97.9 billion. CVS is one of the largest corporations in the nation, ranking #4 on the Fortune 500.

FOR SALE DETAILS

PRICE

$2,972,771 USD

PRICE/SF

$200 USD /SF

CAP RATE

6.5%

% 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

2010

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.94 AC

LAND SF

84,492 SF

ZONING

-

APN/PARCEL ID

06020303 03307

ASK ABOUT THIS PROPERTY

John FeeneyThe Boulder GroupMore Info
847-562-9280

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John FeeneyThe Boulder GroupMore Info
847-562-9280

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