CVS – Shreveport, LA

$4,906,981
Price
$220,814.16
Noi
4.50%
Cap Rate
11,945
Leasable Area
2012-2014
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 11,945 SF CVS Pharmacy located in Shreveport, Louisiana. This 25 year Absolute NNN Lease requires zero landlord responsibilities and has 18.5 years remaining on the primary term. The lease offers ten (5 year) options with rental rate increases at Options 3-10. The lease is corporately guaranteed by CVS Health Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store has been open & successfully operating since February of 2015.

This CVS Pharmacy benefits from being adjacent to ta Kroger anchored shopping center and has excellent visibility as it is located on the signalized hard corner of Ellerbe Road and E. Flournoy Lucas Road which sees 10,348 cars per day. The site is less than 5 miles from Louisiana State University. The five mile population from the site is 78,955. The one mile household income is $129,345. This investment will offer a new owner continued success due to the strength and proven profitability of the tenant. List price reflects a 4.50% cap rate based on NOI of $220,814.16.

INVESTMENT HIGHLIGHTS
• 25 Year Absolute NNN Lease | Zero Landlord Responsibility
• 18.5 Years Remaining on Primary Term!
• 2012 BTS Construction | Concrete Parking Lot
• Ten (5 Year) Options to Renew
• 5 Mile Population 78,955
• 1 Mile Average Household Income $129,345
• 10,348 Cars Per day on E. Flournoy Lucas Road
• Adjacent to Kroger Anchored Shopping Center Center
• Less Than 5 Miles From Louisiana State University
• Corporate Guaranty with BBB Credit Rating

Instate Broker of Record: Brian Brockman | Bang Realty, Inc.