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CVS Pharmacy, Cumming, GA

CVS Pharmacy

Cumming, Georgia

Price $5,732,000
Cap Rate 5.85%
NOI $335,271
Lease Term 25 Years With 10 Years Remaining
Lease Type Net Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Excluding Roof, And Structure
Rental Increases Approx. 5% Rental Increase Every Five (5) Years
Year Built 2007
Building Size 12,912 SF
Lot Size 1.993 Acres (86,832 SF)
Status Available
Lead Broker Information Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

LONG-TERM CORPORATE GUARANTEED NET LEASE TO NATIONAL TENANT WITH STRONG FINANCIALS
» Long-term corporate guaranteed net lease to investment grade pharmacy tenant
» Approximately 5% rental increases every five (5) years
» CVS Pharmacy is rated “BBB” by Standard & Poor’s and is ranked fourth on the Fortune 500 list
» Record revenue of $292 billion in 2021
» CVS operates 9,900 locations across the United States

PROMINENT HARD CORNER LOCATION WITH ACCESS TO OVER 42K VEHICLES
» Located at a four-way signalized intersection with access to 42,800 combined vehicles per day
» Peachtree Parkway/State Route 141 is located a mile from the property, providing access to 40,500 vehicles per day
» Directly across from a Publix Super Market and immediately surrounded by a strong mix of tenants such as Walmart Supercenter, Target, Kroger, The Home Depot, McDonald’s, Dunkin’, and many others
» Minutes from Emory Johns Creek Hospital (110 beds) and Northside Hospital Forsyth (389 bed, 3,600 employees)
» Situated near well-attended schools with a student population of over 13,000 within a five-mile radius

LOCATED IN GEORGIA’S WEALTHIEST COUNTY WITH ACCESS TO OVER 163K RESIDENTS WITHIN FIVE MILES
» 163,944 residents live within a five-mile radius (44% growth since 2010)
» High average annual household income of $201,174 within one mile
» Average annual income projected to increase 12% by 2027, poising CVS and Cumming for significant growth
» Gateway to Atlanta, the most populous city in Georgia (498,715 residents), and part of the ninth-largest metro area in the U.S. (over six million people)
» Well positioned in Forsyth County, the wealthiest county in Georgia
» Georgia’s business climate has been ranked #1 in the nation for the eighth consecutive year by Site Selection and Area Development ranked Georgia the top state for doing business for the seventh year in a row


Property Description

» This CVS Pharmacy is located prominently at a four-way signalized intersection with excellent visibility and access to 42,800 combined vehicles per day in front of the site
» The property is in a prime location directly across from a Publix Super Market and immediately surrounded by a strong mix of tenants such as Walmart Supercenter, Target, Kroger, The Home Depot, McDonald’s, Dunkin’, and many others
» Peachtree Parkway/State Route 141 is located a mile from the property, providing access to an additional 40,500 vehicles per day
» The site is 4.2 miles from Emory Johns Creek Hospital (110 beds) and situated near several well-attended schools within a five-mile radius with a student population of over 13,000
» 163,944 residents live within five miles of the property, a 44% growth since 2010
» The location is supported by a high average annual household income of $201,174 within a one-mile radius with projections to increase 12%by 2027
» The property is well positioned in Forsyth County, the wealthiest county in Georgia
» The site is a gateway to Downtown Atlanta, the most populous city in Georgia (498,715 residents), and part of the ninth-largest metro area in the U.S. (over six million people)

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