| Purchase Price | $6,180,000 |
|---|---|
| Annual Rental Income | $330,720 |
| Cap Rate | 5.35% |
| Lease Term | 18 Years |
| City | Richmond Hill |
"*" indicates required fields
CVS Pharmacy – Richmond Hill, GA
This CVS Pharmacy property in Richmond Hill, Georgia is secured by a long-term absolute triple-net (NNN) lease with CVS Health, a Fortune 500 company and one of the nation’s most reputable pharmacy and healthcare retailers. The asset delivers passive, reliable income with zero landlord responsibility, backed by a corporate-strong tenant operating in a fast-growing suburban market.
Tenant Overview
CVS Pharmacy, a subsidiary of CVS Health (NYSE: CVS), operates over 9,000 locations nationwide. Known for its integrated healthcare model, CVS offers prescriptions, immunizations, health screenings, and a wide selection of front-end retail items, including convenience groceries, personal care, and over-the-counter products. The company continues enhancing its role in community-based healthcare delivery, reinforcing its long-term tenant stability.
Lease Structure
The property is under an absolute NNN lease, where CVS is responsible for all taxes, insurance, maintenance, and capital expenditures. This structure yields truly passive income for the landlord, with no operational duties. CVS’s leases typically feature long primary terms and multiple renewals, providing income longevity and minimizing rollover risk.
Richmond Hill Market Overview
Richmond Hill is a high-growth suburb of Savannah, located in Effingham County. The city has experienced sustained residential and commercial expansion thanks to its proximity to Savannah, military bases, and top-rated schools. The population comprises young families, military personnel, and professionals seeking suburban living with convenient access to coastal amenities and regional employment hubs.
Demographics & Growth Drivers
The Richmond Hill area features strong household incomes above state averages and high homeownership rates. With ongoing residential development and retail expansion, demand for healthcare and everyday convenience continues to rise. CVS is positioned to leverage these demographic trends, offering essential services that match the community’s needs.
Community Role & Retail Function
CVS serves as both a trusted healthcare provider and daily retail destination for Richmond Hill residents. Its convenient location and essential services—prescriptions, nutrition, wellness, and convenience products—drive frequent customer visits. The store acts as a vital component of local retail infrastructure and supports broader community health trends.
Tenant Credit & Investment Security
CVS Health is an investment-grade, publicly traded tenant with robust financial fundamentals and national operational scale. Its strategic investments in healthcare integration and its long-standing lease performance in core and growth markets make it one of the most secure tenants in the net-lease space—providing landlords with low-risk and predictable income.
Investment Highlights