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215 S Highway 31, Athens, AL

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215 S Highway 31

Athens, AL 35611 - Athens Submarket

Property Type:Retail Sub Type:Drug Store Status:Existing Year Built:2001
Building Size:10,125 SF Land Area:2.42 AC (105,611 SF)
For Sale Price:$3,238,095 Price/SF:$319.81
Cap Rate:5.25 %
Parking:65 Surface spaces are available

Sale Notes:
Stan Johnson Company is pleased to offer for sale to qualified investors the fee simple interest in a property located at 215 US Highway 31 in Athens, AL 35611 (the "Property") and fully leased to CVS Health (the "Tenant"). Athens, AL is the county seat of Limestone County and is included in the Huntsville-Decatur CSA. The city is located on the northern border of Alabama and is situated at the foothills of the Appalachian Mountains. From 2010 to 2015 the Athens population grew approximately 14% to an estimated population of 24,966 inhabitants.
The Tenant is currently operating under a 20-year NN lease but has negotiated a 20-year extension that will commence May 1st, 2017. Upon lease expiration in April of 2037, the Tenant will have the option to extend the lease for five (5) years at 5% increased rent.
CVS Health Corporation is a publicly-traded entity on the New York Stock Exchange under ticker symbol CVS. CVS reported for the TTM ended June 30, 2016 total revenue of $166.7 billion, and a net worth of $34.7 billion. CVS currently holds a Standard & Poor' s credit rating of BBB+/Stable.

Stan Johnson Company
Tyler Molleson
(404) 823-6360

Jason Powell
(404) 823-6360

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