CVS Pharmacy - Nashville, TN 3715 Hillsboro Pike 9,618 SF Retail Building Nashville, TN 37215 $14,835,575 ($1,542.48/SF) 5.65% Cap Rate

Marcus & Millichap is pleased to present for sale this 2022, newly constructed CVS Pharmacy Store including a Minute Clinic, one of 1,123 Nation Wide, located at 3715 Hillsboro Pike in the heart of vibrant Nashville, Tennessee. The subject property consists of a freestanding building comprised of 9,618 square feet of retail space and is situated on a large .92 acre-parcel of land.
The subject property is a newly constructed relocation store from a strong performing site directly across the street. This unique CVS benefits from a number of factors including from its ideal accessibility and proximity from Downtown Nashville. Strategically located on the signalized intersection of Crestmoor Road and Hillsboro Pike, the property further benefits from incredible visibility to high traffic counts which exceed 29,000 vehicles per day. The property also sits as an outparcel to ‘The Mall at Green Hills’, a Taubman Company owned and operated upscale shopping mall with more than 100 stores and restaurants totaling 1,055,000+ square feet of retail. Some of the mall’s tenants include Louis Vuitton, Tiffany & Co., Burberry, Crate & Barrel, Apple Store, and numerous others. The CVS undoubtedly benefits from the unparalleled foot traffic created by the ‘The Mall at Green Hills’ which sees millions of visitors annually.
The property sits in the area’s core retail corridor and within one of Nashville’s most affluent submarkets. Full time residents in the immediate trade area exceed a population of 192,000 with average household incomes within a 1-mile radius surpassing $165,000. Several apartment complexes surround this CVS Pharmacy Store including St. Bernard Park Apartments with 192 units, Hayes House Apartments with 201 units, Hillside Flats Apartments with 290 units, Gladstone Apartments with 210 units, Acklen Apartments, 12 South Apartments, Edgehill Apartments and many more. Just a short drive from the property is Nashville International Airport with 585 daily flights from 30 different airlines and home to Joint Base Berry Military Base. Also nearby, is the Nashville Zoo featuring more than 200 acres and thousands of visitors each year. Located a few minutes from the property is Vanderbilt University Medical Center with 1,019 Beds and the comprehensive general hospital for Nashville/Davidson County serving over 65,000 patients each year.
With Nashville’s growing population, many brand new home developments are springing up in the area including Dalamar Homes at Still Springs which is in Phase II offering brand new homesites available as Phase I recently sold out. Also nearby is Ryan Homes at Thornton Grove, Townhomes of Shadow Glen, Rosemonte Townhomes and Hickory Villa Estates.
The property’s construction was completed in 2022 and features a brand new 20-year absolute NNN lease with Six 5-year options to extend and zero landlord responsibility. CVS Health Corporation is an American healthcare company that owns CVS Pharmacy, CVS Caremark, a pharmacy benefits manager and Aetna, a health insurance provider. The company is headquartered in Woonsocket, Rhode Island with over 300,000 employees and 292.1 Billion Dollars in revenue in the U.S. each years.