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CVS 1302 Highway 72-221 East 10,184 SF Retail Building Greenwood, SC 29649 $3,400,000 ($333.86/SF) 5.74% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute Triple Net Lease with No Landlord Responsibilities | CVS is under an absolute triple net lease, which places all expenses on the tenant
- 10, 5-Year Renewal Options with Rental Increases | The lease includes ten 5-year renewal options
- Long Term Occupancy | The tenant has been at this location for 26 years, recently extending the lease by 10 years
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a CVS Pharmacy located at 1302 Hwy 72-221 East, Greenwood, SC 29649. The site consists of roughly 10,184 rentable square feet of building space on an estimated 1.2-acre parcel of land. This CVS Pharmacy is subject to a long-term absolute Triple Net (NNN) lease, which commenced 7/1/1999. The current annual rent is $195,000 and has scheduled rental increases of 5.00% at the start of the first and second tenant renewal periods.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,184 SF
Building Class
C
Year Built
1999
Price
$3,400,000
Price Per SF
$333.86
Cap Rate
5.74%
NOI
$195,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.20 AC
Opportunity Zone
Yes
Zoning
GC
Frontage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 6856-372-617-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $162,000 |
PROPERTY TAXES
Parcel Number
6856-372-617-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$162,000
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CVS | 1302 Highway 72-221 East
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