11946 Kingston PikeFarragut, TN 37922

This exceptional investment opportunity presents a 10,125 square foot CVS Pharmacy in Knoxville, Tennessee, situated on a 2.2-acre lot. The property boasts a strong financial profile, including a 6.50% cap rate and a net operating income (NOI) of $282,194. The asking price is $4,341,000, translating to a price per square foot of $428.74. Built in 1998, this fee-simple property benefits from a triple-net (NNN) lease with a credit-rated, corporate-guaranteed tenant. The current lease has a remaining term of 10 years, extending to 2034, with three 5-year renewal options, each including a 5% rent increase. The property enjoys 100% occupancy and benefits from excellent visibility and accessibility at a signalized intersection with high traffic counts. Its location near medical facilities, schools, and other complementary businesses further enhances its value. The tenant, CVS Pharmacy, has operated successfully at this location for over 25 years, consistently exceeding $15 million in annual sales in 2023. This presents a passive investment opportunity with minimal landlord responsibilities, making it an attractive addition to any portfolio. The property is located at 11946 Kingston Pike, Knoxville, TN 37922, in Knox County.