1400 Park Hl Dr Gainesville, GA 30501-1948
Property profile & analytics
1400 Park Hl Dr Gainesville, GA 30501-1948
- Drug stores
- 10,831 SF
- 2.46 lot acres
Property ID
US22-0974838
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- CVS Photo / (Bike/Boat/Book/etc) Store
- Redbox / Cinema / (Bike/Boat/Book/etc) Store
- MoneyGram / Bank / Credit Union
- UPS Access Point location / Courier Service / Postal Service
- CVS / Cosmetic Store
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.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,600,000
- ML approach
- $2,690,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,080,000
- 6.5%
- $1,920,000
- 7%
- $1,785,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,324,000
Market price range: $720k - $2.56M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,530,000 Current use
- RESTAURANT
- $3,195,000 Change: +109% Conversion: Easy
- MEDICAL BUILDING
- $2,315,000 Change: +51% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $2,060,000 Change: +35% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,765,000 Change: +15% Conversion: Easy
- NEIGHBORHOOD: SHOPPING CENTER
- $1,680,000 Change: +10% Conversion: Moderate
- OFFICE BUILDING
- $1,545,000 Change: +1% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- 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
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$22,718
$278,560
$514,720
$793,280
-
$696,400
$1,286,800
$1,983,200
