9849 Rome Blvd Summerville, GA 30747-1585

Property Details for 9849 Rome Blvd

Year built

2006

Construction

TYPE NOT SPECIFIED

Lot size

1.83 lot acres

Property size

12,036 SF

Property type

Drug stores

APN

00S22-00000-100-000

APU

00S2200000100000

Description

This exceptional investment opportunity presents a fee-simple interest in a 12,177 square-foot CVS Pharmacy located at 9849 Rome Blvd, Summerville, GA 30747. The property, built in 2007 and situated on over 1.5 acres at the intersection of Hwy 48 & Hwy 27, benefits from a prime location approximately an hour and a half from Atlanta. The property boasts a strong 100% occupancy rate under an absolute NNN lease with CVS Pharmacy, a credit-rated tenant with a corporate guarantee, ensuring minimal landlord responsibilities. The lease commenced December 1, 2019, and extends to November 30, 2039, offering a substantial remaining term of 15 years. The current annual net operating income (NOI) is $266,000, representing a 6.00% cap rate and a price per square foot of $364.07. The lease includes eight five-year renewal options, each with a 5% base rent increase. This A-Class retail property is a compelling investment, offering long-term stability and significant return potential. The property's location in Summerville, a popular weekend destination for Atlanta residents, further enhances its appeal. CVS Health's substantial size and investment-grade credit rating provide significant financial security. This is a rare opportunity to acquire a well-established, high-performing retail asset with a long-term, secure lease. The asking price is $4,433,300 and is suitable for a 1031 exchange.

Location Insight

City

Summerville

County

Chattooga

State

Georgia

Longitude

-85.3492

Latitude

34.4773

CBSA code

44900

CBSA name

SUMMERVILLE, GA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments