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CVS Investment Sale New June 2025 Pricing 10 Gilmer Ave 11,325 SF Retail Building Tallassee, AL 36078 $2,199,500 ($194.22/SF) 7.15% Cap Rate
EXECUTIVE SUMMARY
Engel Realty Company is pleased to exclusively market for sale a single tenant net leased CVS Pharmacy located in Tallassee, AL.
CVS together with its subsidiaries, is the largest pharmacy provider in the United States.
The original lease terms runs through January 2031 leaving over 7 years remaining on the primary term. CVS has been successfully operating since 2010, and has 6 options to renew for a period 5 years each.
The lease is triple net which presents no landlord responsibilities. The lease also features a corporate guaranty from CVS at below market rents comparatively to similar national pharmacy retailers.
Located in historic Tallassee, AL 37 miles east of capital City Montgomery, AL and part of the Montgomery MSA, and approximately 40 miles west of Auburn, AL.
CVS together with its subsidiaries, is the largest pharmacy provider in the United States.
The original lease terms runs through January 2031 leaving over 7 years remaining on the primary term. CVS has been successfully operating since 2010, and has 6 options to renew for a period 5 years each.
The lease is triple net which presents no landlord responsibilities. The lease also features a corporate guaranty from CVS at below market rents comparatively to similar national pharmacy retailers.
Located in historic Tallassee, AL 37 miles east of capital City Montgomery, AL and part of the Montgomery MSA, and approximately 40 miles west of Auburn, AL.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,325 SF
Building Class
C
Year Built
1997
Price
$2,199,500
Price Per SF
$194.22
Cap Rate
7.15%
NOI
$157,264
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.40 AC
Parking
48 Spaces (4.24 Spaces per 1,000 SF Leased)
Frontage
200’ on Gilmer Ave
PROPERTY TAXES
| Parcel Number | 20-04-18-3-304-001001-0 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $235,100 |
PROPERTY TAXES
Parcel Number
20-04-18-3-304-001001-0
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$235,100
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CVS Investment Sale New June 2025 Pricing | 10 Gilmer Ave
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