9849 Rome BlvdSummerville, GA 30747

Property Details for 9849 Rome Blvd

Year built

2006

Construction

TYPE NOT SPECIFIED

Lot size

1.83 AC

Property size (Sq ft)

12,036 SF

Property type

Retail properties

Property subtype

Drug stores

APN

00S22-00000-100-000

APU

00S2200000100000

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,742,130

  6.5%

  $3,454,274

  7%

  $3,207,540

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,940,570

  Geo Method

  $5,916,310

• Alternative Use

  Use

  Valuation

  Residential

  $2,913,809

  Hospitality

  $2,669,034

  Educational

  $2,220,604

  Medical

  $2,296,974

  Retail

  $3,454,274

Location Insight

City

Summerville

County

Chattooga

State

Georgia

Latitude

34.4773

Longitude

-85.3492

CBSA code

44900

CBSA name

SUMMERVILLE, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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