For Sale
$5,832,824

3940 Jonesboro RdUnion City, GA 30291

High-yield CVS Pharmacy investment. Strong tenant, long lease.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a fee-simple ownership of a 13,225 square foot CVS Pharmacy located at 3940 Jonesboro Rd, Union City, GA 30291. The property boasts an absolute NNN lease with a credit-rated, corporate-guaranteed tenant, CVS Pharmacy, leaving over 8.2 years remaining on the initial 25-year lease term (expiring 01/31/2033), with ten 5-year renewal options. The property features a drive-thru and enjoys a prominent hard corner location at the intersection of Buffington Road and Jonesboro Road, a major traffic artery with over 28,300 vehicles daily. Situated within a thriving auto mall, surrounded by dealerships including Audi, Jeep, Chrysler, Lexus, and more, this location benefits from excellent visibility and accessibility. The property is approximately 1.5 miles from the newly developed Atlanta Metro Studios and Union Station Business Center, a significant development encompassing a 195,000 square foot film studio and a 988,000 square foot DHL distribution facility. This densely populated area has over 121,000 residents within a five-mile radius. Built in 2007, the 1.64-acre lot offers a strong net operating income (NOI) of $405,381, resulting in a 6.95% cap rate. The asking price is $5,832,824, translating to a price per square foot of $441.05. CVS, with a BBB credit rating from Standard & Poor's, reported over $322 billion in annual revenue in 2022. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a strong tenant and significant upside potential.

Highlights

  • Absolute NNN lease; zero landlord responsibilities.
  • Corporate-backed, long-term lease with CVS; over 9 years remaining on a 25-year lease (commenced 2007).
  • Investment-grade tenant (CVS); S&P BBB credit rating; over $322B in annual revenue (2022).
  • High-traffic location; 1.5 miles from Atlanta Metro Studios & Union Station business complex (195,000 SF film studio & 988,000 SF DHL distribution facility).
  • Hard corner location with drive-thru at Buffington Rd and Jonesboro Rd intersection.
  • Located within area's main auto mall; surrounded by major dealerships.

Property Details for 3940 Jonesboro Rd

Property type
Retail properties, Drug stores
Square Feet
13,225 SF
Year Built
2007
Lot Size (sq. ft)
71,438 SF

Location Insight

City
Union City
County
Fulton
State
Georgia
Latitude
33.562875630857
Longitude
-84.518226854336
3940 Jonesboro Rd, Union City, Georgia

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3940 Jonesboro Rd
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