3940 Jonesboro RdUnion City, GA 30291

Property Details for 3940 Jonesboro Rd

Year built

2007

Lot size

1.64 AC

Property size (Sq ft)

13,225 SF

Property type

Retail properties

Property subtype

Drug stores

Description

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.

Location Insight

City

Union City

County

Fulton

State

Georgia

Latitude

33.5629

Longitude

-84.5182

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