CVS Investment Sale-Tallasee, AL

Property Information

• Hard corner & Signalized intersection.
• Located next to Tallassee High School and  Tallassee Elementary and Tallassee Community Hospital
• Rental Increases: 7.15% Increase 1st option period in 2031 and 5% each option period thereafter
• Lease Commencement April 2010
• Lease Expiration January 31, 2031. 
• Tenant has 6 option periods for 5 years each remaining
• Guaranty Corporate Guaranty —CVS Caremark
• Size 11,325 situated on 1.4 Acres
• Parking 4.24 per 1,000sf
• Construction Year 1997
• Population 18,000+ trade area population
• Contact Agents for Pricing

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.