111 8Th St E Tifton, GA 31794

Property Details for 111 8Th St E

Year built

2004

Lot size

1.38 lot acres

Property size

10,940 SF

Property type

Drug stores

APN

T042-081

APU

T042081

Description

This exceptional investment opportunity presents a single-tenant, net-leased CVS Pharmacy located at 111 W 8th St, Tifton, GA 31794. The 10,940 square-foot building, constructed in 2004, sits on a 1.38-acre lot and boasts a 100% occupancy rate. The property benefits from a highly favorable absolute NNN lease structure, eliminating landlord responsibilities. The lease, commencing December 17, 2004, has a remaining term of 5.2 years, extending to January 31, 2030, with ten 5-year renewal options. The tenant, CVS Pharmacy, is a credit-rated, investment-grade tenant, providing significant financial stability. The asking price is $3,039,822, representing a compelling cap rate of 6.75% and a price per square foot of $277.86. The property generates a Net Operating Income (NOI) of $205,188. This strategically located property enjoys high visibility along 8th Street (7,130 vehicles per day) and proximity to Interstate 75 (52,700 vehicles per day), ensuring substantial traffic flow. The surrounding area includes Tifton Mall and numerous other shopping centers anchored by national retailers such as Publix, T.J. Maxx, and Tractor Supply Company. A strong demographic profile supports the property, with 31,223 people residing within a 5-mile radius, boasting an average household income of $70,980. Furthermore, the property's proximity to Tift Regional Medical Center, a 181-bed acute care facility, further enhances its desirability. This is a rare opportunity to acquire a well-performing, low-risk investment with a strong tenant and significant upside potential. Rent bumps are detailed in the offering memorandum.

Location Insight

City

Tifton

County

Tift

State

Georgia

Longitude

-83.5072

Latitude

31.4603

CBSA code

45700

CBSA name

TIFTON, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments