Cap Rate: 5.00%
Net Operating Income: $126,400
Square Footage: 10,752
Lot Size: 1.24 AC
This is a rare CVS Pharmacy subject to an absolute NNN lease in Orangeburg, South Carolina. CVS extended their lease for an additional 20 years and there are approximately 11.5 years remaining. The lease calls for zero landlord obligations. The tenant has three, 5 year options remaining with increases at each option period. The tenant has shows commitment to the location with excellent sales history. The asset is well situated at a hard corner location and includes a drive thru. The property is directly across the street from Edisto Village, a Bi Lo grocery anchored center.
Orangeburg, also known as The Garden City, is the principal city in and the county seat of Orangeburg County, South Carolina, United States. The population of the city was 13,964 according to the 2010 United States Census. The city is located 37 miles southeast of Columbia, on the north fork of the Edisto River in the Piedmont area.