LONG TERM NNN LEASE WITH RARE 5% INCREASES • Subject property is a CVS on a 25-year lease with 14.5 years remaining. • Rare 5% rent bumps every 5 years during initial lease and options. • Tenant is responsible for all expenses which include taxes, CAM, insurance, roof and structure.
ATTRACTIVE RETAIL LOCATION • Property is well located at a signalized intersection on busy Moreland Ave. SE (26,800 VPD). • Adjacent national retailers include: Kroger, Aldi, Piggly Wiggly, Shoe Show, AutoZone, Chase Bank, O’Reilly, Dollar General, Popeye’s and More. • The 5-mile population is 276,313 and the average household income is $68,432. • Closest Walgreens or Rite Aid is over 5-Miles away. • New Planned 3 story 17 unit multifamily development directly behind this CVS.
DOUBLE DRIVE THRU ACCESS • This Pharmacy features full double drive-thru access.
TRENDY EAST ATLANTA MARKET • Conveniently located minutes away from Downtown Atlanta, Hartsfield-Jackson Airport, Mercedes-Benz Dome, the Beltline, CNN Center, Centennial Olympic Park, and more. • No longer “the best-kept secret in Atlanta”, East Atlanta is in a stage of steady growth and development due to the influx of millennials and young single families. • Last year the number of homes sold increased 15% and sales prices increased 22%. • East Atlanta hosts a number of popular events including the East Atlanta Strut, East Atlanta Craft Beer Festival, and the East Atlanta Village Farmers Market.
ATLANTA • Atlanta is the state capital and the 9th largest MSA in the United States (pop. 5,884,736). • 15 Fortune 500 companies are headquartered within metro Atlanta, which include Home Depot, UPS, Delta Airlines, and Coca-Cola. • 785,000 new jobs forecast through 2025 (30% higher than the U.S. average). • Home to the Atlanta Braves, Hawks, Falcons and host of the 2019 NFL Super Bowl.
INVESTMENT GRADE TENANT • CVS is a publicly traded (NYSE: CVS) Fortune 500 Company and currently holds an investment grade rating of BBB with S&P. • CVS is the largest pharmacy chain in the country and has a net worth of over $37B. • There are currently more than 10,000 CVS locations in 45 states. • Annual revenues increased 4.1% in 2017 and were over $184B.