CVS 139 E Broadway Blvd - Jefferson City, TN, 37760 - LoopNet
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CVS
139 E Broadway Blvd
Jeffer s on City, T N , 37760
R E PR E SE NT A T I VE PHO T O
CVS | JEFFERSON CITY, TENNESSEE
ON MARKET:
CVS IN JEFFERSON CITY, TENNESSEE
R E P RESENT ATIVE PHOTO
INVESTMENT HIGHLIGHTS
CVS in Jefferson City, TN Ideally Located Along E Broadway Blvd
28 MILES NORTHEAST OF KNOXVILLE MORE THAN 21,000 VEHICLES PER DAY (VPD)
Long Term Triple Net Lease (NNN) with 19 Years Remaining Below Market Rent
ZERO LANDLORD RESPONSIBILITIES
Essential Service Tenant Throughout the Pandemic
Strong Corporate Guaranty from CVS Health | S&P:BBB
Additional Retail in the Area Includes:
Hedge Against Inflation WALMART, LOWE’S HOME IMPROVEMENT, BIG LOTS, AUTOZONE AUTO
232.16% RENT INCREASE IN OPTIONS PARTS, FOOD CITY, DOMINO’S PIZZA, MCDONALD’S, DOLLAR GENERAL,
TRACTOR SUPPLY CO, AND MANY MORE
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
CVS | JEFFERSON CITY, TENNESSEE
FINANCIAL OVERVIEW 139 E BROADWAY BLVD
JEFFERSON CITY, TN, 37760
PRICE $1,100,000
CAP RATE 4.00%
NOI $44,000
PRICE PER SQUARE FOOT $109.46
RENT PER SQUARE FOOT $4.38
YEAR BUILT 2001
APPROXIMATE LOT SIZE 1.16 Acres
GROSS LEASEABLE AREA 10,050 SF
TYPE OF OWNERSHIP Fee Simple RE P RE S E N T AT IV E P H OT O
LEASE GUARANTOR CVS Health ANNUALIZED OPERATING DATA
BASE RENT ANNUAL RENT MONTHLY RENT
LEASE TYPE Triple Net (NNN)
CURRENT 5/31/2039 $44,000 $3,667
ROOF AND STRUCTURE Tenant Responsibility Option Periods $146,151 $12,179
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
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Drive•In
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92 SUBJECT PROPERTY
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11E
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JEFFERSON
MIDDLE SCHOOL
JEFFERSON
ELEMENTARY SCHOOL
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AP R
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MANUFACTURER
CVS - Jefferson City, Tennessee
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CVS | JEFFERSON CITY, TENNESSEE
LEASE SUMMARY
LEASE COMMENCEMENT DATE 6/1/2019
LEASE EXPIRATION DATE 5/31/2039
LEASE TERM 20 Years
TERM REMAINING 19 Years
INCREASES In Options
OPTIONS TO RENEW Six, 5-Year Options
REPRESENTA TIVE PH O TO RE P RE S E N T AT IV E P H OT O
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
CVS | JEFFERSON CITY, TENNESSEE
TENANT OVERVIEW
CVS Health Corporation, together with its subsidiaries, is a pharmacy innovation company
helping people on their path to better health. At the forefront of a changing health care OVERVIEW
landscape, the Company has an unmatched suite of capabilities and the expertise needed
to drive innovations that will help shape the future of health care. CVS is currently the only TENANT TRADE NAME CVS Health
integrated pharmacy health care company with the ability to impact consumers, payors,
TENANT CVS
and providers with innovative, channel-agnostic solutions. They have a deep understanding
of their diverse needs through their unique integrated model, and are bringing them
OWNERSHIP Public
innovative solutions that help increase access to quality care, deliver better health outcomes
and lower overall health care costs. Through more than 9,900 retail locations, more than
LEASE GUARANTOR CVS Health
1,100 walk-in health care clinics, a leading pharmacy benefits manager with nearly 90
million plan members, a dedicated senior pharmacy care business serving more than one
NUMBER OF LOCATIONS 9,900+
million patients per year, expanding specialty pharmacy services and a leading stand-alone
Medicare Part D prescription drug plan. They are delivering break-through products and HEADQUARTERED Woonsocket, RI
services, from advising patients on their medications at their CVS Pharmacy locations, to
introducing unique programs to help control costs for their clients at CVS Caremark, to WEB SITE www.cvs.com
innovating how care is delivered to their patients with complex conditions through CVS
Specialty, to improving pharmacy care for the senior community through Omnicare, or by SALES VOLUME $256 Billion (2019)
expanding access to high-quality, low-cost care at CVS MinuteClinic.
NET WORTH $84.49 Billion (2020)
STOCK SYMBOL CVS
BOARD NYSE
CREDIT RATING BBB
RATING AGENCY Standard & Poor’s
REPRESENTA TIVE P H O TO RANK BBB
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
CVS | JEFFERSON CITY, TENNESSEE
ABOUT JEFFERSON CITY
Jefferson City is a city in Jefferson County, Tennessee. It is part of the Morristown, Tennessee, Metropolitan Statistical Area. The city was originally named “Mossy Creek” but was changed in
1901 to honor Thomas Jefferson. Carson-Newman University, a Baptist college founded in 1851, is located in Jefferson City.
U.S. Route 11E, the Andrew Johnson Highway, passes through the south side of the city. It leads northeast 13 miles to the center of Morristown and west 3 miles to New Market. Knoxville is 28
miles to the southwest via Route 11E. Tennessee State Route 92 passes through the west side of Jefferson City, leading north 14 miles to Rutledge and south 9 miles to the center of Dandridge.
REPRESENTA TIVE PHOTO
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.
CVS
5-Mile
3-Mile
1-Mile
DOWNTOWN KNOXVILLE
26 MILES FROM SUBJECT
KNOXVILLE
1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile
2000 Population 5,091 10,597 17,826 2000 Households 1,794 3,921 6,736 2020 Average HH Income $43,840 $56,614 $63,304
2010 Population 5,178 10,901 19,120 2010 Households 1,752 4,026 7,225 2020 Median HH Income $34,103 $42,617 $48,483
2020 Population 5,288 11,242 19,713 2020 Households 1,809 4,179 7,475 2020 Per Capita Income $14,997 $21,045 $24,004
2025 Population 5,424 11,552 20,247 2025 Households 1,860 4,300 7,685
B R OKE R HE REBY AD VI SES ALL P R O S PECTIV E PU R CHA S ER S O F N ET L EA S ED P R O P E R T Y A S F O L L O WS: T h e i n f o rm a ti o n c ontained in the follow ing Mar ket i ng B r o chur e i s p r o p r i et ar y and s t r i ct l y co nf i d ent ia l . I t i s i n t e n de d t o be re v i e w e d on l y by t h e pa rt y r e ce i vi n g i t f ro m B r oker and should not be ma d e avai l ab l e t o any o t her p er s o n o r ent i t y w i t ho ut t he w ri t t e n c on s e n t of Brok e r. T h i s Ma rke ti n g Brochur e has b een pr epar ed t o p r o vi d e s um m ar y, unver i f i ed i nf o r m at i o n t o p r o s p ect i v e pu rc h a s e rs , a n d t o e s t a bl i s h on l y a pre l i m i n a ry l e v e l o f i n te re st i n the sub ject pr oper ty . The inf o r m at i o n co nt ai ned her ei n i s no t a s ub s t i t ut e f o r a t h orou g h du e di l i g e n c e i n v e s t i g a t i on . Brok e r h a s n ot m a d e a n y i n ve sti gation, and makes no w ar r ant y o r r ep r es ent at i o n, w i t h r es p ect t o t he i nco m e o r ex p e n s e s for t h e s u bj e c t prope rt y , t h e fu t u re proj e c t e d f i n a nc i a l pe rf o rm ance of the p r oper ty , the s i z e and s q uar e f o o t age o f t he p r o p er t y and i m p r o vem e n t s , t h e pre s e n c e or a bs e n c e of c on t a m i n a t i n g su b s ta n c e s, PCB’s or asbestos, the comp liance w i t h St at e and F ed er al r egul at i o ns , t he p hys i cal co nd i t i on of t h e i m prov e m e n t s t h e re on , or t h e fi n a n c i a l co n di ti o n o r bu si ness p r ospects of any tenant , o r any t enant ’s p l ans o r i nt ent i o ns t o co nt i nue i t s o c c u pa n c y of t h e s u bj e c t prope rt y . T h e i n form a t i on co n ta i n e d i n th i s Mar keting B r ochur e has b ee n o b t ai ned f r o m s o ur ces w e b el i eve t o b e r el i ab l e; ho w e v e r, Brok e r h a s n ot v e ri fi e d, a n d w i l l n ot v e ri fy , a n y o f th e i n f o rm ation contained her ein, nor has B r o ker co nd uct ed any i nves t i gat i o n r egar d i ng t hes e m a t t e rs a n d m a k e s n o w a rra n t y or re pre s e n t a t i on w ha tso e ve r re ga rding the accur acy or comp letenes s o f t he i nf o r m at i o n p r o vi d ed . Al l p o t ent i al b uyer s m u s t t a k e a ppropri a t e m e a s u re s t o v e ri fy a l l of t h e i nf o rm a ti o n se t f o r th her ein. NO N -ENDOR SEMEN T NOTICE Br o ke r i s n o t a f f i l iated w ith, sponsor ed b y , o r end o r s ed b y any co m m er ci al t enant o r l es s ee i d ent i f ie d i n t h i s m a rk e t i n g pa c k a g e . T h e pre s e n c e of a n y co r po ra ti o n ’s l o go or name is not intend ed to i nd i cat e o r i m p l y af f i l i at i o n w i t h, o r s p o ns o r s hi p o r e n dors e m e n t by , s a i d c orpora t i on of Brok e r, i t s a f f i l i a te s o r su bsi diar ies, or any agent, pr oduc t , s er vi ce, o r co m m er ci al l i s t i ng o f B r o ker , and i s s o l el y i n c l u de d for t h e pu rpos e of prov i di n g t e n a n t l e s s e e i nf o rm a ti o n a bo u t this listing to pr ospectiv e cus t o m er s . A L L P R O PER TY SH OWINGS A RE B Y A P P OINTME N T ON LY . P LEASE C ON SULT Y OUR B ROK ER AG EN T F OR M OR E D E T A I L S .
C O N TA C T U S :
PREET SABHARWAL
LICENSED REAL ESTATE SALESPERSON
psabharwal@sabcap.com
t. 646.809.8830
LICENSE #: 10401279699 (NY)
DAN CORCORAN
LICENSED REAL ESTATE SALESPERSON
dcorcoran@sabcap.com
t. 646.809.8831
LICENSE #: 10401257943 (NY)
BROKER OF RECORD
Jeremy Just
jeremy@blacktidedev.com
t. 615.732.6273
Blacktide Real Estate Advisors, LLC
LICENSE #:INDIVIDUAL 340151 (TN)
LICENSE #: CORPORATE 263661 (IN)
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