CVS Pharmacy

CVS Pharmacy

795 Oglethorpe Ave
Athens, GA

Price: $9,063,000
Cap: 5.00%
NOI: $453,127
Building Size: 14,781 SF
Lot Size: 2.47 AC

Investment Highlights

LONG TERM CORPORATE NNN LEASE WITH INCREASES
• The subject property is a CVS with over 13 years remaining on an initial 25 year lease.
• The lease is absolute NNN and the Tenant is 100% responsible for all expenses including taxes, CAM, insurance, roof, and structure.
• There are 5% rent increases during the first 2 option periods and Fair Market Value increases in the remaining 8, 5-year options.

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 $250B.
• There are currently more than 9,800 CVS locations in 45 states.
• Annual revenues increased 4.7% in 2020 and were over $268B.

NEAR THE UNIVERSITY OF GEORGIA
• The subject property is located less than 2.5 miles from the University of Georgia.
• The University of Georgia is the largest university in GA with over 39,000 students and a faculty of nearly 11,000.
• Founded in 1785, it is the oldest and largest of Georgia’s Institution of Higher learning and considered the State’s flagship university.
• Most known for Football, UGA offers 21 varsity sports and has 46 national championships, of which 34 were achieved since 1999.

WELL LOCATED IN ACTIVE MEDICAL CORRIDOR
• This CVS sits at the corner of a four-way signalized intersection of Oglethorpe & Hawthorne Ave with a combined daily traffic count of 26,000 VPD.
• Its well located adjacent to UGA’s Health Sciences Campus and surrounded by numerous hospitals and medical facilities.
• The 5 Mile Population is 103,516 with 10.91% growth.

DOUBLE DRIVE THRU CVS
• This CVS is open until midnight and is a double drive thru location.

ATHENS
• Athens is located 70 miles East of Atlanta in the northeastern part of the state.
• Athens is the 6th largest city in Georgia and the principal city of the Athens-Clarke County, GA
• Athens is home to several pharmaceutical manufacturing and biotechnology companies such as Merial and Janssen Pharmaceuticals
• It has been ranked by Forbes as one of “The Best Place to Retire in 2017” and is ranked as one of the best college towns in the country.

Don McMinn
OFFERING MEMORANDUM

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