Recently Sold – CVS Pharmacy, Alpharetta GA

Thomas Company is pleased to announce the recent sale of a CVS retail asset in Alpharetta, GA totaling +/- 13,225 square feet. The list price was $3.7 million. The buyer was attracted to the long-term lease, below-market rent, and Atlanta MSA location.

• MANAGEMENT-FREE OWNERSHIP: The Tenant recently executed a 20-year absolute net lease (NNN) with no Landlord responsibilities whatsoever. The Tenant is responsible for all management and maintenance of the asset.
• AFFLUENT ATLANTA SUBURB: 3-mile average household income of $151,633
• BELOW-MARKET RENTAL RATE: CVS’s contractual rental rate was approximately 40% below fair market value.