5025 N Olive Branch, MS

This property features an absolute NNN lease with CVS, where CVS is responsible for all maintenance, repair, and replacement, including the roof and structure, providing completely passive ownership. CVS, the leading pharmacy provider in the US, holds an investment grade credit rating of BBB (S&P). CVS recently extended the lease, added increases in the option periods, and removed the rent holiday, demonstrating their commitment to the location and strong sales history. The CVS store has a rent to sales ratio under 3% at this location. CVS recently consolidated two area locations into the subject property, which should support increasing sales into the future. The subject store is the closest pharmacy to Methodist Olive Branch Hospital, a 100-bed hospital serving the local area. The property benefits from access from both Church St. and Cockrum Rd. The intersection has exposure to approximately 42,000 VPD. Interchange access to US-78 (30,300 VPD) is located less than 1 mile north. Olive Branch is an affluent community in the Memphis MSA with average household incomes of $111,000 within 3 miles.