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CVS | Corp Abs NNN | 18+yrs Occupancy 4515 Highway 411 12,500 SF Retail Building Madisonville, TN 37354 $3,085,000 ($246.80/SF) 7.50% Cap Rate
Investment Highlights
- Corporate Guaranteed Lease | 18+ Years of Operating History | 6.5 Years of Term Remaining | Investment Grade Tenant (S&P: BBB)
- Signalized, Hard Corner Intersection | Centralized Location | US Highway 411 (20,500 VPD) | Extremely Limited Competition
- Strong Demographics in 5-Mile Trade Area | County Seat
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities | Income Tax Free State
- Adjacent to Walmart Supercenter (1.9M Visitors - Placer.ai) | Multiple Nearby Apartment Complexes | Dense Retail Corridor
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, drive-thru equipped, absolute NNN, CVS (S&P: BBB) investment property located in Madisonville, Tennessee. CVS has been operating at this location for more than 18 years and has approximately 6.5 years of firm term remaining with 10 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor within an income tax free state. CVS Pharmacy is America’s leading retail pharmacy with over 9,000 locations across 49 states.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
12,500 SF
Building Class
B
Year Built
2007
Price
$3,085,000
Price Per SF
$246.80
Cap Rate
7.50%
NOI
$231,339
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
1.77 AC
Zoning
C-3 - Highway Business District
Parking
78 Spaces (6.24 Spaces per 1,000 SF Leased)
Frontage
188’ on U.S. 411
Amenities
- Pylon Sign
- Signage
- Drive Thru
- Monument Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, and the CVS name followed the next year. Pharmacies were added to CVS stores in Cranston, Rhode Island, and the business later became part of CVS Health, which expanded the enterprise into retail pharmacy, prescription benefits, and related health services. CVS Pharmacy operates as a retail pharmacy chain with neighborhood, mail-order, and specialty pharmacy services, plus prescription delivery and savings support. The company sells over-the-counter medicines, beauty products, seasonal merchandise, and convenience foods, and offers in-store and virtual care through MinuteClinic and related services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 067-208.04 | Improvements Assessment | $375,480 |
| Land Assessment | $169,360 | Total Assessment | $544,840 |
Property Taxes
Parcel Number
067-208.04
Land Assessment
$169,360
Improvements Assessment
$375,480
Total Assessment
$544,840
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