Cap Rate: 6.50%
Net Operating Income: $320,377
Lot Size: 1.74 AC
Year Built: 2009
The subject property is a single tenant CVS Pharmacy on a 25 year lease with a 3 year rent Holiday, of which over 14 years remain. The drive‐thru pharmacy is located along New Jesup Hwy. in Brunswick, Georgia. Average daily traffic counts at I-95 and Old Jesup Rd are over 48,000 VPD. The subject property is located on a major commercial thoroughfare surrounded by major national retailers including Winn Dixie, Waffle House, Fred’s, Advance Auto, Comfort Inn and Super 8 Motel.
Brunswick is a city in and the county seat of Glynn County, Georgia. As the major urban and economic center of the state’s lower southeast, it is the second-largest urban area on the Georgia coast after Savannah and contains the Brunswick Old Town Historic District.
Brunswick supports a progressive economy largely based on tourism and logistics, with a metropolitan GDP of $3.9 billion. The Port of Brunswick handles approximately 10 percent of all U.S. roll-on/roll-off trade—third in the U.S., behind the ports of Los Angeles and Newark. The headquarters of the Federal Law Enforcement Training Center is located 5 miles north of the central business district of the city and is adjacent to Brunswick Golden Isles Airport, which provides commercial air service to the area. In the 2010 U.S. census, the population of the city proper was 15,383; the urban area, 51,024; and the metropolitan area, 112,370.