24-Hr CVS 27 Year Operating History 1271 Gray Hwy 10,260 SF Retail Building Macon-Bibb, GA 31211 $4,801,000 ($467.93/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- Top 92nd percent for the CVS chain in the state of GA and 83% nationally
- Two large pylon signs on a hard corner with excellent visibility
- Rent is very low at $21 PSF
- Combined traffic counts of 60,600 vehicles per day
- Tenant just exercised their second of six 5-year options with a 5% rent escalation
- Store and Pharmacy are open 24 hours a day
EXECUTIVE SUMMARY
Combined traffic counts are 60,600 vpd.
The property is located just north of a rebuilt Interstate Highway 16 and Interstate Highway 75 intersection and south of a Walmart Supercenter. This provides ease of access for highway customers traveling from outside the immediate area as demonstrated on the property trade area map. This CVS has customers from Atlanta to Savannah.
Macon-Bibb County is recognized as a "Top 10 Metro City" by Site Selection Magazine with over $1 billion in private investment in 2024 with an anticipated 3.5% increase over the next five years and 7.6% over the next ten years.
Area retailers include AutoZone, Ross Dress for Less, Walmart Supercenter, Papa John's, Waffle House, Captain D's, Burger King, Crystal Dairy Queen, Wendy's, Arby's, Taco Bell, Dunkin' Donuts, and O'Reilly Auto Parts.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$218,230
|
$21.27
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$218,230
|
$21.27
|
| Net Operating Income |
-
|
-
|
PROPERTY FACTS
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- 10,260 SF
- $21.27
- Triple Net
- Mar 2029
CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | 10,260 SF | $21.27 | Triple Net | Mar 2029 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R064-0148 | Improvements Assessment | $490,952 |
| Land Assessment | $200,596 | Total Assessment | $691,548 |
