CVS Pharmacy

CVS Pharmacy – Franklin, TN (Nashville MSA)

This CVS Pharmacy property in Franklin, Tennessee—part of the rapidly expanding Nashville Metropolitan Statistical Area—is backed by a long-term absolute triple-net (NNN) lease with CVS Health, a Fortune 500, investment-grade tenant. The offering presents an opportunity to acquire a passive net lease investment in a highly desirable income-generating retail asset in one of the Southeast’s most dynamic and affluent suburban markets.

Tenant Overview – CVS Health

CVS Pharmacy is a subsidiary of CVS Health (NYSE: CVS), one of the most recognized and respected healthcare and pharmacy retailers in the country. With over 9,000 locations nationwide, CVS Pharmacy provides daily-use essentials including:

• Prescription fulfillment and management
• Immunizations and flu shots
• Wellness screenings and MinuteClinic walk-in services
• Over-the-counter health and wellness products
• Everyday convenience retail items

CVS Health is a leader in the pharmacy and healthcare retail industry, actively expanding its role in community-based healthcare delivery through its integration with Aetna and continued growth in telemedicine and clinical services. Its evolving business model enhances tenant durability and ensures long-term relevance in both suburban and urban settings.

Lease Structure – Absolute NNN

This property is subject to an absolute NNN lease, meaning CVS is responsible for 100% of operating expenses, including:

• Real estate taxes
• Insurance
• Roof and structure
• Common area maintenance and capital expenditures

For investors, this lease structure offers zero landlord responsibilities and fully passive income. These types of triple-net investments are ideal for 1031 exchange buyers, family offices, and private investors seeking low-maintenance commercial real estate assets backed by corporate credit.

Franklin, TN Market Overview

Franklin is one of the most sought-after suburbs in the greater Nashville area. Known for its historic charm, top-tier schools, and robust economic base, Franklin has become a magnet for families, professionals, and businesses alike. It consistently ranks among the best places to live and invest in Tennessee due to:

• Proximity to downtown Nashville (20 miles south)
• Strong residential development
• High median household income
• Exceptional quality of life and infrastructure

Williamson County, where Franklin is located, is one of the wealthiest counties in the state and continues to lead in job creation, particularly in healthcare, technology, and corporate services.

Demographics and Demand Drivers

The population in Franklin has grown significantly over the last decade, with continued demand for essential service retail and healthcare access. The city features:

• High median household incomes well above the national average
• Strong homeownership rates and limited rental vacancy
• Educated population base with high disposable income
• Ongoing development of master-planned communities and commercial centers

These demographic trends support consistent foot traffic and long-term demand for pharmacy services, particularly for a trusted national brand like CVS.

Strategic Retail Location

This CVS Pharmacy benefits from a strategic retail location with strong frontage and visibility. Positioned along a well-traveled thoroughfare, the property captures both commuter traffic and neighborhood demand. CVS stores are often located on signalized corners or near major intersections, contributing to:

• High daily traffic counts
• Strong site access and ingress/egress
• Co-tenancy with other national brands or medical services
• Visibility within a stable trade area with growing rooftops

Retail real estate investors often prioritize such locations due to their ability to withstand economic cycles and tenant turnover.

Creditworthy Tenant and Investment Security

CVS Health is an investment-grade tenant with strong financials and a long-standing track record of performance. The company continues to demonstrate lease renewal consistency, long-term market presence, and growing healthcare delivery functions across its real estate portfolio.

As a publicly traded company with billions in annual revenue, CVS offers investors confidence through:

• Corporate lease guarantees
• Investment-grade credit ratings from Moody’s, S&P, and Fitch
• A diversified national footprint and recession-resistant model

The combination of essential service retail and medical access makes CVS a highly resilient tenant, particularly in demographic-rich markets like Franklin.

Key Investment Highlights

• Absolute NNN Lease – Passive ownership with no landlord obligations
• Credit Tenant – Backed by CVS Health, a Fortune 500, investment-grade company
• Top Suburban Market – Located in Franklin, one of Tennessee’s most affluent and fastest-growing cities
• Strong Demographics – High household incomes, low vacancy, and steady population growth
• Prime Retail Location – Excellent visibility, access, and daily traffic exposure
• 1031 Exchange Suitable – Ideal for investors seeking stabilized, income-producing real estate
• Essential Healthcare Retail – High-frequency customer base with recession-resistant demand

Conclusion

This CVS Pharmacy in Franklin, TN offers a rare opportunity to acquire a net leased retail property in a premier Nashville MSA suburb. With a corporate-backed absolute NNN lease, long-term income stability, and a location in one of the Southeast’s strongest economic corridors, this investment meets the criteria for both income generation and capital preservation. Whether part of a diversified portfolio or a strategic 1031 exchange, the property checks all boxes for passive, low-risk, single-tenant net lease real estate.