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CVS Pharmacy, Scottsboro, AL

CVS Pharmacy

Price $1,943,000
Cap Rate 5.25%
NOI $102,000
Lease Term 20 Years Remaining
Lease Type Absolute NNN, with Tenant Responsible for all Taxes, Insurance, Utilities, and Maintenance
Rental Increases 5% Rental Increase in Option Periods
Year Built 2004
Building Size 10,260 SF
Lot Size 1.61 Acres (70,284 SF)
Status Available
Lead Broker Information Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Cushman and Wakefield Inc. LIC. # 00616335
This property is listed in conjunction with Alabama-licensed real estate broker Cushman & Wakefield, Inc.

Investment Highlights

RARE ABSOLUTE NNN LEASE TO NATIONAL TENANT WITH STRONG FINANCIALS
» Recent 20-year lease extension
» Strong operating history at this location
» No landlord management, ideal for an out-of-area investor
» CVS is rated “BBB” by Standard & Poor’s and ranked seventh on the Fortune 500
» CVS is the largest retailer of prescription drugs in the U.S.
» Record revenue of $184.8 billion in 2017
» CVS and its affiliates operate over 9,846 locations across the United States

HIGH-TRAFFIC LOCATION WITH CONVENIENT FREEWAY ACCESS
» Located on South Broad Street, one of Scottsboro’s primary thoroughfares, with excellent visibility and access to 17,900 vehicles per day
» Property benefits from signalized entrance
» South Broad Street provides nearby access to U.S. Highway 72, which has a high traffic volume of 33,100 vehicles per day near the property

CENTRAL LOCATION
» Near downtown Scottsboro and the Unclaimed Baggage Center, Alabama’s number one retail tourist destination, with over a million customers visiting the store each year
» Near Maples Industries, the largest employer in the county, with 1,862 employees
» Close to the 170-bed Highlands Medical Center, one of the top-performing hospitals in Alabama
» Surrounded by several schools, including Caldwell Elementary School (388 students), Scottsboro Junior High School (414 students), and Collins Elementary School (386 students)

EXCELLENT SCOTTSBORO/JACKSON COUNTY MARKET
» Google’s new $600 million data center, located in Jackson County, is being built approximately 25 miles from Scottsboro
» Jackson County is uniquely situated one hour from Chattanooga, 45 minutes from Huntsville, and two hours from Birmingham and Nashville

Click Here to Download Offering Memorandum


Property Description

The property is conveniently located on South Broad Street, one of Scottsboro’s primary thoroughfares, with excellent visibility and access to 17,900 vehicles per day. South Broad Street also provides nearby access to U.S. Highway 72, which has a high traffic volume of 33,100 vehicles per day near the property. Located within walking distance of downtown Scottsboro’s commercial district, the property is near a number of local, regional, and national retailers. Notable tenants near the property include Goodwill, Domino’s Pizza, Hardee’s, Sonic, Tractor Supply, Piggly Wiggly, Anytime Fitness, AutoZone, Dollar Tree, Walmart, and Home Depot. The property is also a short distance from the Unclaimed Baggage Center, Alabama’s number one retail tourist destination, with over a million customers visiting the store each year.

The property is centrally located near schools and large employers. Several schools are close to the property, including Caldwell Elementary School (388 students), Scottsboro Junior High School (414 students), and Collins Elementary School (386 students). The property is also near a number of major employers, including Maples Industries, which is the largest employer in the county, with 1,862 employees.

Contact Us About This Property

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