CVS Strip center

CVS Strip center

5575 Lawrenceville Hwy.
Lilburn, GA

Price: $2,250,000
Cap: 7.25%
NOI: $163,396
Building Size: 13,375 SF
Lot Size: 2.00 AC

Investment Highlights

WELL LOCATED CVS STRIP CENTER
• The subject property is a 13,375 SF three tenant retail strip center leased to CVS, Dominos, and Lee Nails
• Leasing Momentum | Domino’s & Lee Nails have recently signed extensions showing commitment to the center
• The center is located on in the high traffic corridor of Lawrenceville Highway (32,600 VPD) | Surrounding Retailers: Publix, Dollar General, Autozone, etc.
• The center boasts strong fundamentals as it sits on a signalized intersection with multiple points of ingress/egress, ideal visibility, and replaceable rental rates

STRONG CVS ANCHOR WITH DRIVE-THRU
• CVS makes up 75% of the total GLA and has been in occupancy for 24 Years
• The tenant recently expressed interested in extending its lease for an additional 10 years
• In 2015 CVS consolidated in the market which increased the sales of this location from $4M+ to $7M+
• Current Rent to Sales Ratio is under 2%
• CVS Currently has 1 option in 2022 with an 8% increase in rent

INVESTMENT GRADE CREDIT TENANT
• CVS (NYSE: CVS) has a net worth in excess of $37.19 billion and holds a Standard & Poor’s credit rating of BBB+/Stable.
• CVS Health Corporation was founded in 1892 and currently operates approximately 9,967 retail drugstores and boasted $12 billion in operating income in 2019

DENSE NORTH ATLANTA SUBURB
• Lilburn, GA is a developed suburb of Atlanta located in Gwinnett County and a part of the Atlanta Metropolitan Area.
• Lilburn has undergone major revitalization projects in the past few years, including a brand new city hall/library complex
• The city is home to the BAPS Shri Swaminarayan Madir Atlanta (Located adjacent to the property), the tallest building in the city and the largest Swaminarayan temple outside of India, drawing thousands of visitors from all over North America
• The Atlanta MSA is the commercial hub of the Southeast and the 8th most populous MSA in the US

OUTSTANDING DEMOGRAPHICS
• 5 Mile Population: 230,9135
• 5 Mile Avg. Household Income: $71,9475
• 5 Mile Growth Rate: 2.19%

OFFERING MEMORANDUM

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