The subject property is a 10,125-square foot freestanding CVS Pharmacy located in Rome, Georgia. The double net lease has a corporate guarantee from CVS Corporation. Less than two years remain on the term, and the tenant has four, five-year options for renewal with a five percent rent increase at the beginning of the first option period. Constructed in 1998, the building is situated on 1.29 acres. This location reports strong sales.
The subject property is located on the signalized hard corner of Maple Avenue and East 20th Street. Rite Aid Pharmacy is directly across the street. The subject property is approximately three blocks west of the intersection of U.S. Route 411 and Georgia State Route 101, with area retailers including Dollar General, BP gas station, Huddle House, Waffle House, Quality Inn, Best Western, Country Inn & Suites, Holiday Inn Express, La Quinta, Comfort Suites, and Studio 6. The five mile population exceeds 51,000 residents with an average household income of $51,500.
