Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7021 Highway 614 Hurley, MS 39562

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Single-tenant CVS Pharmacy in Hurley, Mississippi with long-term lease.

    Property size:
    10,880 SF
    Lot size:
    2.30 Acres

    Property Features for 7021 Highway 614

    General Information

    Standard status
    Active
    Size
    10,880 SF
    Lot size
    2.30 Acres

    Building Details

    Year built
    2005

    We can help!

    Listing Contact
    Christopher Twist
    Source: Crexi

    Listing Agency: Colliers - Fort Lauderdale, Florida Listing Agent: Christopher Twist

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Freestanding CVS Pharmacy Investment Opportunity

    This single-tenant CVS Pharmacy is located in Hurley, Mississippi. Constructed in 2005, the property features a 10,880-square-foot building on a 2.30-acre site. It is positioned in Hurley’s primary retail corridor at the intersection of State Highway 614 and State Highway 613, which have a combined traffic count of 12,020 vehicles per day. The property is anchored by a 25-year absolute NNN lease with CVS Health Corporation, which commenced on December 22, 2005, and runs through January 31, 2031, with approximately 7 years remaining. The annual base rent is $148,636, complemented by two five-year fixed-rate renewal options and eight additional five-year fair market value renewal options. The property is located near the Singing River Medical Clinic. As the only freestanding retail pharmacy within a 20-mile radius, this CVS location serves the healthcare needs of the local population. The surrounding region has experienced a 43.4% population increase within 5 miles since 2000, with a projected annual growth rate of 0.41% through 2029. Households in the area have seen a 49.1% rise over the same period, with an average household income of $93,345 within 5 miles. The property is located 24 miles north of Pascagoula and 35 miles west of Mobile, Alabama.
    Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    CVS, Rx Express Pharmacy, Steve Mcmellon, RPH, CVS Pharmacy

    Location Insight

    • Map
    • Local Demand
    City
    Hurley
    County
    Jackson
    State
    Mississippi
    Longitude
    -88.4908742
    Latitude
    30.6539147

    FAQs

    What type of property is this?
    Drug store - Single-tenant CVS Pharmacy in Hurley, Mississippi with long-term lease.
    Where is this drug store located?
    The property is located at 7021 Highway 614 Hurley, MS.
    What are key features of this property?
    This property features: - Full 3-year rent credit at closing, equating to $445,908, significantly reducing initial investment.; - Absolute NNN lease with CVS Health Corporation (Fortune 6 company) provides secure, passive income with zero landlord responsibilities.; - Strategic location in Hurley's primary retail corridor at the intersection of State Highway 614 and State Highway 613 with high visibility and accessibility.
    Request Owner's contact information
    7021 Highway 614 Hurley, MS 39562
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7021 Highway 614
    Hurley, MS 39562
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7021 Highway 614 Hurley, MS 39562
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Christopher Twist
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!