Single-Tenant CVS Retail
For Sale
Contact for pricing
105 Foothills Center Dr, West Union, SC 29696
A leased pharmacy asset on a long-running NNN structure with a corporate guaranty from CVS Health.
Property Size10,000 SF
Price / SF$163
Days on Market56
Property Features for 105 Foothills Center Dr
General Information
Standard status
Active
Size
10,000 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$106,000
Building Details
Year Built
1999
Tenancy
Single
Listing Agency:
Atlantic Capital Partners
(704) 375-7771
Listed By:
Eric Suffoletto · License #MA 9577141
Source:
Crexi
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 11 at 1:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Atlantic Capital Partners
Investment Insights
Based on property information with market context.
This is a single-tenant CVS Pharmacy property totaling 10,000 square feet. The asset is leased on an Absolute NNN basis and is backed by an investment-grade corporate guaranty from CVS Health Corporation. CVS has operated at this location since 1999, and the tenant executed a 20-year lease extension in 2019, supporting the property’s long-term occupancy. The lease provides approximately 13 years of remaining term, with scheduled rental increases during option periods.
The property is located along Blue Ridge Boulevard, described as the primary retail corridor serving Oconee County. It is positioned within the Greenville-Anderson MSA, with proximity to Lake Keowee and Clemson University. The offering notes a base of full-time residents, second-home ownership, and year-round visitation.
For buyers seeking a mission-critical healthcare retail investment with absolute net responsibilities, this CVS Pharmacy building offers a straightforward, passive-structure arrangement under a corporate guaranty. The extended lease history and remaining term, along with scheduled increases in option periods, are key considerations for investors evaluating long-duration income tied to a national pharmacy operator.
The property is located along Blue Ridge Boulevard, described as the primary retail corridor serving Oconee County. It is positioned within the Greenville-Anderson MSA, with proximity to Lake Keowee and Clemson University. The offering notes a base of full-time residents, second-home ownership, and year-round visitation.
For buyers seeking a mission-critical healthcare retail investment with absolute net responsibilities, this CVS Pharmacy building offers a straightforward, passive-structure arrangement under a corporate guaranty. The extended lease history and remaining term, along with scheduled increases in option periods, are key considerations for investors evaluating long-duration income tied to a national pharmacy operator.
Key Highlights
- 10,000 SF single‑tenant CVS Pharmacy retail asset built in 1999
- Absolute NNN lease structure
- Corporate guaranty from CVS Health Corporation (NYSE: CVS; S&P: BBB)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$130,140
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,602,800
$2.6M
Cap Rate 7%
$1,859,143
$1.9M
Cap Rate 9%
$1,446,000
$1.4M
Market Conditions
NOI Build-Up for 10,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$180.0K $18.00/SF
− Vacancy
−$6.5K −$0.65/SF
EGI
$173.5K $17.35/SF
− OpEx
−$43.4K −$4.34/SF
NOI
$130.1K $13.01/SF
Area
Oconee County, SC
Vacancy
3.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,602,800
Cap Rate 7%
$1,859,143
Cap Rate 9%
$1,446,000
Alternative Uses
Best Use
Specialty Retail
$1.86M
$1.63M – $2.17M
NOI $130,140 @ 7.0% cap · market cap 7.98%
Second Best
Retail
$1.74M
$1.52M – $2.02M
NOI $121,464 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,718 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
157k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Groceries 26%
Dining 24%
Apparel 8%
Ingles
Groceries
34,983 visits/mo
0.2 miles
McDonald's
Dining
24,504 visits/mo
0.4 miles
Spinx
Shops & Services
21,048 visits/mo
0.1 miles
Bealls
Apparel
13,142 visits/mo
0.0 miles
Dollar General
Shops & Services
10,185 visits/mo
0.3 miles
Demographics for 29696, SC
4,759
Population
2,327
Households
2
Avg Household Size
47
Median Age
29%
College-Educated
91%
High-School Grad
21.9 sq mi
ZIP Area
217
Density / Sq Mi
$77,172
Median Household Income
$40,653
Median Earnings
$681
Median Rent
$184,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Ingles Pharmacy — 180 Scenic Plaza Dr, West Union, SC 29696
- CVS Pharmacy — 105 Foothills Center Dr, West Union, SC 29696
- Karen Lawrence — 105 Foothills Center Dr, West Union, SC 296962518
- Amanda Simpson — 105 Foothills Center Dr, West Union, SC 29678
- The Pharmacist's daughter — 912 W Main St, Walhalla, SC 29691
Frequently Asked Questions
What type of property is this?
Drug store - A leased pharmacy asset on a long-running NNN structure with a corporate guaranty from CVS Health.
Where is this drug store located?
The property is located at 105 Foothills Center Dr West Union, SC.
What is the asking price?
The asking price for this property is $1,630,000.
What are key features of this property?
This property features: 10,000 SF single‑tenant CVS Pharmacy retail asset built in 1999; Absolute NNN lease structure; Corporate guaranty from CVS Health Corporation (NYSE: CVS; S&P: BBB)
