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Dark Walgreens | Hopkinsville, KY
2626 Fort Campbell Boulevard - Hopkinsville, KY 42240
Cap Rate: 11.50%
Available
$2,700,000
Tenant: CVS Pharmacy | Bakersfield, CA
Premises: 12,900 SF
Renewal Options: 5 x 5 Years
Lease Expiration: 01/31/2035
Lease Type: Absolute NNN Ground Lease
Rental Increases: 10% Every 10 Years and 7.5% at Options
Sands Investment Group is Pleased to Present For Sale the CVS Pharmacy Ground Lease Located in Bakersfield, California. This Property Has Approximately 12+ Years Remaining on the Base Term of the Lease and Features a Rare 10% Increase in 7.5 Years and 7.5% Increases Every 5 Years Thereafter, Throughout Each of the 5 (5-Year) Option Periods Providing a Strong Hedge Against Inflation. The Building Includes a Double Lane Drive-Thru and Sits as an Out Parcel to a Highly Visited Shopping Center With Adjacent Tenants Including Aldi, Smart & Final, Chick-fil-A, In-N-out, Chipotle, Panda Express, Randy’s Donuts & More. This Location is Open 24 Hours a Day and Benefits From a High Population Base in the Immediate Trade Area in Addition to High Daytime Population From the Significant Density of Office Campuses Located Nearby. CVS is the Largest Pharmacy Provider in the Country By Prescription Revenue and Features an Investment Grade Credit Rating of BBB (S&P Global Ratings). This Investment is Perfect For a 1031 Buyer. This Deal Offers a Long-Term Secure Income Stream, Strong Rental Increases, Investment Grade Credit With a Pandemic and Recession Resistant Tenant.
BEST IN CLASS INVESTMENT FEATURING RARE STRONG RENTAL INCREASES
DAILY NEEDS & NECESSITY BASED TENANT
DOMINANT BAKERSFIELD LOCATION
In Cooperation With Sands Investment Group, Inc Lic. # 01768950
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CVS Pharmacy is the second largest pharmacy chain in the United States. There are 9,767 CVS Pharmacy locations in the United States as of July 11, 2022. The state with the most number of CVS Pharmacy locations in the US is California, with 1,154 locations, which is 11% of all CVS Pharmacy locations in America. The company was founded in Lowell, Massachusetts and originally named the Consumer Value Store. CVS Pharmacy is currently the largest pharmacy chain in the United States by number of locations and total prescription revenue. As the retail pharmacy division of CVS Health, it ranks as the 12th largest company in the world serving 5 million customers each day.
CVS sells prescription drugs and a wide assortment of general merchandise including over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods through their CVS Pharmacy and Longs Drugs retail stores. It also provides healthcare services to more than 1,100 MinuteClinic medical clinics in 33 states including the District of Columbia. As a pharmacy innovation company, CVS focuses on charitable giving in ways that will help people on their path to better health by improving health outcomes and building healthier communities. Their in-store fundraising campaigns, in-kind donations and corporate grants provide support for national nonprofit partners that are focused on helping people on their path to better health.
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