Building Details

Year Built 2005

Buildings 1

Stories 1

Tenancy Single

Listing Agency: Colliers - Fort Lauderdale, Florida

Listed By: Christopher Twist · License #FL Show Phone

Source: Crexi

Added: Mar 27 Changed: Sep 26 Last Checked: Oct 7 at 9:16AM

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Investment Insights

Based on property information with market context.

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.

Key Highlights

• 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.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$160,877

Cap Rate

9.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,217,540 $3.2M

Cap Rate 7%

$2,298,243 $2.3M

Cap Rate 9%

$1,787,522 $1.8M

Market Conditions

NOI Build-Up for 10,880 SF

Gross rent

$232.4K $21.36/SF

− Vacancy

−$17.9K −$1.64/SF

EGI

$214.5K $19.72/SF

− OpEx

−$53.6K −$4.93/SF

NOI

$160.9K $14.79/SF

Area

Jackson County, MS

Vacancy

7.70%

Lease Rate

$21.36 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,217,540

Cap Rate 7%

$2,298,243

Cap Rate 9%

$1,787,522

Alternative Uses

Best Use

Specialty Retail

$2.30M

$2.01M – $2.68M (±1% cap)

NOI $160,877 @ 7.0% cap · market cap 9.20%

Second Best

Retail

$1.85M

$1.62M – $2.16M (±1% cap)

NOI $129,517 @ 7.0% cap · market cap 7.41%

Theoretical Best

Office A

$2.97M

$2.60M – $3.47M (±1% cap)

NOI $208,060 @ 7.0% cap · market cap 11.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Drug stores

Suggested Use

Top Pick Building Supply HVAC Service Dental Office (Bike/Boat/Book/etc) Store Carpet & Flooring Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

166

Businesses Nearby

1k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Apparel 100%

Hurley Apparel

1,389 visits/mo 0.1 miles

Demographics for 39562, MS

16,780

Population

7,717

Households

2.2

Avg Household Size

43

Median Age

13%

College-Educated

82%

High-School Grad

201.6 sq mi

ZIP Area

83

Density / Sq Mi

$55,602

Median Household Income

$46,224

Median Earnings

$976

Median Rent

$158,100

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this drug stores located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• CVS — 7021 MS-614, Hurley, MS 39555
• Rx Express Pharmacy — 7100 h Highway #614, Moss Point, MS 39562
• Steve Mcmellon, RPH — 7100 MS-614, Moss Point, MS 39562
• CVS Pharmacy — 7021 MS-614, Hurley, MS 39555, United States

Frequently Asked Questions

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 Mississippi 614 Hurley, MS.

What is the asking price?

The asking price for this property is $1,748,658.

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.