For Sale
$4,433,300

9849 Rome BlvdSummerville, GA 30747

15+ Year NNN Lease, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple interest in a 12,177 square-foot CVS Pharmacy located at 9849 Rome Blvd, Summerville, GA 30747. The property, built in 2007 and situated on over 1.5 acres at the intersection of Hwy 48 & Hwy 27, benefits from a prime location approximately an hour and a half from Atlanta. The property boasts a strong 100% occupancy rate under an absolute NNN lease with CVS Pharmacy, a credit-rated tenant with a corporate guarantee, ensuring minimal landlord responsibilities. The lease commenced December 1, 2019, and extends to November 30, 2039, offering a substantial remaining term of 15 years. The current annual net operating income (NOI) is $266,000, representing a 6.00% cap rate and a price per square foot of $364.07. The lease includes eight five-year renewal options, each with a 5% base rent increase. This A-Class retail property is a compelling investment, offering long-term stability and significant return potential. The property's location in Summerville, a popular weekend destination for Atlanta residents, further enhances its appeal. CVS Health's substantial size and investment-grade credit rating provide significant financial security. This is a rare opportunity to acquire a well-established, high-performing retail asset with a long-term, secure lease. The asking price is $4,433,300 and is suitable for a 1031 exchange.

Highlights

  • Fee-simple interest in a 12,177 SF CVS Pharmacy, built in 2007.
  • Absolute NNN lease with a credit-rated tenant, CVS Pharmacy, providing a corporate guarantee.
  • 15+ years remaining on the lease, expiring November 30, 2039, with eight 5-year renewal options, each with a 5% rent increase.
  • $266,000 annual NOI, 6.00% cap rate, and $364.07 price per square foot.

Property Details for 9849 Rome Blvd

Property type
Lifestyle centers, Power centers
Square Feet
12,177 SF
Class
A
Year Built
2007

Location Insight

City
Summerville
County
Chattooga
State
Georgia
Latitude
34.4771992
Longitude
-85.3492741
9849 Rome Blvd, Summerville, Georgia

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9849 Rome Blvd
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