2429 Mlk Jr Dr SW - Freestanding FOR SALE


Atlanta, GA 30311- Westview
$4,843,000 USD
949-903-8099
2429 Mlk Jr Dr SW, Atlanta, GA for Sale
$4,843,000 USD
Freestanding - FOR SALE
1/9
null | 5.75% Cap Rate

2429 Mlk Jr Dr SW
Atlanta, GA 30311
Westview


HIGHLIGHTS

  • Over 7 Years Remaining | Options To Extend | Scheduled Rental Increases | Strong Placer.ai Rankings
  • NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
  • West Ridge Center (167,000 SF) | Interstate 20 (207,000 VPD) |Cascase Corners (92,000 SF)
  • Primary Retail Corridor | Near Multiple College Universities
  • Strong Demographics in 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, CVS Pharmacy investment property located in Atlanta, Georgia. The tenant, Georgia CVS Pharmacy, LLC has over 7 years remaining on their lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN leased with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. CVS has more than 9,000 retail pharmacy locations, more than 1,000 walk-in and primary care medical clinics, a leading pharmacy benefits manager with approximately 90 million plan members, and a dedicated senior pharmacy care business serving more than 800,000 patients per year. In addition, this site is ranked in the top 76th percentile nationwide, as well as in the top 88th percentile in the state of Georgia, per Placer.ai data.

FOR SALE DETAILS

PRICE

$4,843,000 USD

PRICE/SF

$372 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS | 7+yrs Corp NNN w/ Incrs

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

64

LAND DETAILS

LAND ACRES

1.65 AC

LAND SF

71,874 SF

ZONING

Commercial

APN/PARCEL ID

14-0205-LL-104-5

ASK ABOUT THIS PROPERTY

Jake PraterSRS National Net LeaseMore Info
949-903-8099

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Jake PraterSRS National Net LeaseMore Info
949-903-8099

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.