Property Details for 569 Horizon Pkwy

Year built

2010

Lot size

4.41 lot acres

Property size

11,945 SF

Property type

Retail properties & Spaces

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a fee-simple ownership of a 11,945 square foot CVS Pharmacy in Grovetown, Georgia. The property boasts a new 15-year absolute NNN lease with a credit-rated corporate guarantor (CVS Pharmacy), ensuring minimal landlord responsibilities. The lease features three 5-year renewal options, each with a 10% rent increase. The current annual net operating income (NOI) is $247,500, resulting in a 5.75% cap rate. Built in 2010, this strategically located retail property sits on a 4.41-acre lot, enjoying high visibility and accessibility via Horizon South Parkway and Wrightsboro Road, two major traffic arteries with a combined daily traffic count exceeding 24,100 vehicles. The property benefits from its proximity to a large John Deere production facility and numerous other national retailers, solidifying its position within a thriving retail hub. The lease expiration date is April 30, 2039, offering a substantial remaining lease term of approximately 14.4 years. This investment offers a compelling combination of strong tenant credit, a long-term lease, and a prime location, making it an attractive addition to any portfolio. The asking price is $4,304,348.

Location Insight

City

Grovetown

County

Columbia

State

Georgia

Longitude

-82.1935

Latitude

33.4589