CVS Pharmacy NN Corporate Lease 7.4% CAP Rate

Retail-Commercial for Sale
Catylist Listing ID: 30431202
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 8,840 SF
Gross Building Area: See Agent
Gross Land Area: 0.57 - 0.58 Acres
Sale Price: $1,150,000
Unit Price: $130.09 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller, Build-to-Suit
Cap Rate: 7.42%
Last Updated: 8/20/2019

Overview / Comments

Just Reduced. Now at 7.42% CAP rate. A free standing CVS Pharmacy NN leased store guaranteed by CVS corporate through January of 2024. CVS has a long history of operating at this location & the property enjoys a high visibility location on a main arterial highway with a high traffic count & signalized intersection. Retailers in the surrounding area include: Food City, Verizon, Wendy's, Taco Bell, KFC, McDonald's, Ruby Tuesday, Advance Auto Parts & Family Dollar.
Square footage is from tax records, is not guaranteed & should be verified by buyer.
From Knoxville, take I-40 west to Exit 347 Harriman/Rockwood. Turn north onto South Roane St. Property is about one mile on the left. No sign

Additional Details

Nearest MSA: Knoxville
County: Roane
Taxing Authority: Roane County
Tax ID/APN: 073036A D 00500
Zoning: COMMERCIAL
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Visibility: Excellent
Feet of Frontage: 107
Traffic/Vehicle Count: 13,269
Highway Access: I-40 to Exit 347
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1993
Construction/Siding: Block, Brick
Total Parking Spaces: 25
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,471 7,415 21,474
Median Age: 44.01 43.8 43.98
Households: 1,053 3,201 8,930

Contact

Photograph of Listing Agent

Solange Velas, CCIM

Goldman Partners Realty, LLC KAAR CIE Member
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