CVS Pharmacy | Corporate Guarantee | 20 Year Absolute NNN Lease

18252 Heritage Hwy, Denmark, SC 29042, USA
$3,257,732

Description

Marcus & Millichap is pleased to present for sale this Absolute Net Leased CVS located at 18252 Heritage Highway, Denmark, South Carolina. The subject property consists of a free-standing building comprised of 11,946 square feet of retail space and is situated on a large 2.47-acre parcel of land.
The property is located on Heritage Highway (US-78), a major East-West artery, which travels through Augusta, Georgia due West and North Charleston, South Carolina due East. This CVS is the only major pharmacy serving the Denmark’s population which includes Vorhees College and Denmark Technical College. The nearest national brand pharmacy is located over 6.5 miles away. There are numerous National and Regional retailers in the immediate trade area including Advance Auto Parts, McDonald’s, Dollar General, Hardee’s, and numerous others.
CVS recently executed a brand new a 20 Year Absolute Net-Lease with Zero Landlord Responsibility showing commitment to the site. CVS Health Corporation (formerly CVS Caremark Corp.) together with its subsidiaries is currently the largest pharmacy chain in the United States by number of locations (over 9,600 as of 2016) and total prescription revenue. As the retail pharmacy division of CVS Health, it ranks as the 7th largest U.S. corporation according to Fortune 500 in 2016. CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods through their CVS Pharmacy, retail stores and online through CVS.com. It also provides healthcare services through its more than 1,100 MinuteClinic medical clinics as well as their Diabetes Care Centers. Most of these clinics are located within CVS stores.

  • Investment Grade Credit Tenant, Rated BBB+ by S&P
  • Corporate Guarantee | CVS Health Corporation
  • Recently Extended 20-Year Absolute NNN Lease
  • Absolute NNN – Zero Landlord Responsibility
  • Fee Simple Allowing for Depreciation
  • Excellent Access and Visibility
  • Drive-Thru Pharmacy
  • No Competing National Drugstores

Property Documents

  • City: Denmark
  • State/county: South Carolina
  • Zip/Postal Code: 29042
  • Country: United States

Detail

  • Price: $3,257,732
  • Year Built: 2020-11-20

Additional details

  • CAP RATE: 4.85%
  • NOI: $158,000

Features