Absolute NNN Pharmacy
824 Peachtree St NE Atlanta, GA 30308
824 Peachtree St NE, Atlanta, GA, 30308
$2,559,000
For Sale
$2,559,000
Absolute NNN CVS leasehold extended through October 2031 with four 5-year renewal options.
Property Size12,150 SF
Price / SF$210.62
Days on Market77
Property Features for 824 Peachtree St NE
General Information
- Standard status
- Active
- Size
- 12,150 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2002
Properties For Sale
at 824 Peachtree St NE Contact us
Listing agency
SRS Real Estate Partners Newport Beach
(949) 547-2213
Listed by
John Redfield · License #01912215
(949) 547-2213
Source
Srsre
Added: May 7 Updated: Jul 22 at 6:35AM Checked: Jul 22 at 6:35AM
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 SRS Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
SRS National Net Lease is pleased to offer a leasehold interest in an absolute NNN leased CVS investment property in Midtown Atlanta, Georgia. The tenant, CVS Health, Inc., has recently extended the lease through October 2031 on both the building and the underlying ground lease, and the lease includes four remaining 5-year renewal options at fair market rent.
As an absolute NNN structure, CVS is responsible for CAM, taxes, insurance, maintenance, and all ground lease obligations, resulting in zero landlord responsibilities. The purchase is structured as leasehold ownership, which the remarks note provides the benefit of depreciating 100% of the asset basis. The property is addressed at 824 Peachtree St NE, Atlanta, GA 30308.
As an absolute NNN structure, CVS is responsible for CAM, taxes, insurance, maintenance, and all ground lease obligations, resulting in zero landlord responsibilities. The purchase is structured as leasehold ownership, which the remarks note provides the benefit of depreciating 100% of the asset basis. The property is addressed at 824 Peachtree St NE, Atlanta, GA 30308.
Key Highlights
- 2002‑built CVS property offered as a leasehold interest (building ownership) under an absolute NNN structure.
- Tenant CVS Health, Inc. (S&P: BBB) extended the lease through October 2031 on both the building and underlying ground lease.
- Lease includes four remaining 5‑year renewal options at fair market rent.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $233.3k | $19.20 |
| − Vacancy | −$14.0k | −$1.15 |
| EGI | $219.3k | $18.05 |
| − OpEx | −$54.8k | −$4.51 |
| NOI | $164.5k | $13.54 |
12,150 SF · lease $19.20/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.35M
$2.06M – $2.74M
NOI $164,462 @ 7.0% cap · market cap 6.43%
Second Best
Retail
$2.02M
$1.77M – $2.36M
NOI $141,608 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$3.40M
$2.97M – $3.96M
NOI $237,747 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Drug stores
Similar For Sale Nearby
FAQs
What type of property is this?
NNN property - Absolute NNN CVS leasehold extended through October 2031 with four 5-year renewal options.
Where is this nnn property located?
The property is located at 824 Peachtree St NE Atlanta, GA.
What is the asking price?
The asking price for this property is $2,559,000.
What are key features of this property?
This property features: 2002‑built CVS property offered as a leasehold interest (building ownership) under an absolute NNN structure.; Tenant CVS Health, Inc. (S&P: BBB) extended the lease through October 2031 on both the building and underlying ground lease.; Lease includes four remaining 5‑year renewal options at fair market rent.
