1400 Park Hl Dr Gainesville, GA 30501-1948

Property Details for 1400 Park Hl Dr

Year built

2002

Construction

STEEL FRAME

Lot size

2.46 lot acres

Property size

10,831 SF

Zone code

O-I

Property type

Drug stores

APN

01-079 -002-013

APU

1079002013

Description

This exceptional investment opportunity presents a 10,921 square foot CVS Pharmacy located at 1400 Park Hill Dr, Gainesville, GA 30501. The property sits on a 2.46-acre lot and boasts an absolute NNN lease structure with a highly creditworthy tenant, CVS Health Corp., providing significant financial stability. The lease, originally commenced on September 10, 2003, has a remaining term of approximately 14.8 years, extending to August 31, 2039, with six 5-year renewal options at a 5% rent increase per option. The property's strong financial performance is reflected in its current Net Operating Income (NOI) of $160,000, yielding a 5.85% cap rate. The asking price is $2,735,042, translating to a price per square foot of $250.44. Built in 2003, this single-tenant property enjoys 100% occupancy and benefits from its strategic location on a signalized hard corner in a growing market outside Atlanta, with average household incomes exceeding $76,600 within a 3-mile radius. This offering presents a compelling opportunity for passive ownership with minimal landlord responsibilities, backed by an investment-grade credit tenant and a historically stable tenancy exceeding 20 years. The annual rental rate is notably below the national average for comparable drug store assets.

Location Insight

City

Gainesville

County

Hall

State

Georgia

Longitude

-83.8178

Latitude

34.3203

CBSA code

23580

CBSA name

GAINESVILLE, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments