| Purchase Price | $4,490,000 |
|---|---|
| Annual Rental Income | $315,000 |
| Cap Rate | 7.02% |
| Lease Term | 6 Years |
| City | Summerville |
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CVS Pharmacy – Summerville, SC (Charleston MSA satellite)
This CVS Pharmacy in Summerville, South Carolina presents a compelling opportunity to acquire a single-tenant, net lease investment with an absolute triple-net lease guaranteed by CVS Health, a Fortune 500 and investment-grade tenant. Located in the rapidly expanding Charleston metropolitan area, this property offers passive income, long-term stability, and corporate credit in one of the Southeast’s most desirable and economically vibrant markets.
Tenant Overview – CVS Health
CVS Pharmacy is the retail pharmacy division of CVS Health (NYSE: CVS), the nation’s largest pharmacy chain with more than 9,000 locations nationwide. The company plays a central role in U.S. healthcare delivery by offering prescription services, over-the-counter medications, immunizations, MinuteClinic walk-in care, health screenings, and daily essentials. CVS is a core destination for both retail and healthcare services, and it continues to evolve its model to integrate insurance, telemedicine, and chronic care management.
CVS Health has become a dominant player in both the pharmacy and healthcare sectors, and its extensive footprint and strategic real estate decisions make it a premier tenant in the net lease space. With a reputation for lease longevity, operational stability, and investment-grade credit, CVS is ideal for investors seeking consistent income with minimal risk.
Lease Structure – Absolute Triple-Net (NNN)
This property is secured by an absolute triple-net lease, where the tenant is responsible for all operating expenses, including taxes, insurance, maintenance, and capital expenditures. The lease includes a long-term base period with multiple extension options and rental escalations. This structure offers:
For 1031 exchange buyers, family trusts, and hands-off investors, this lease format provides dependable cash flow backed by one of the most respected names in the healthcare and retail industry.
Summerville Market Overview – Charleston MSA
Summerville is a thriving suburban community located approximately 25 miles northwest of Charleston, South Carolina. As part of the broader Charleston MSA, Summerville benefits from the area’s booming population growth, regional job creation, and infrastructure expansion. Known for its Southern charm, historic roots, and high quality of life, Summerville is experiencing a residential and commercial renaissance.
Charleston is consistently ranked as one of the top cities in the United States for livability, tourism, and business development. Major employers in the area include Boeing, the Medical University of South Carolina (MUSC), the Port of Charleston, and a growing network of logistics, defense, and technology firms. As housing costs rise in central Charleston, communities like Summerville are seeing an influx of families, remote workers, and professionals, fueling local demand for essential services and retail conveniences.
Demographics and Economic Drivers
Summerville exhibits strong demographic fundamentals that support the long-term performance of a CVS location:
The region’s ongoing growth fuels consistent demand for prescription services, immunizations, walk-in medical care, and convenience retail. CVS locations in expanding suburban corridors like Summerville are well-positioned to thrive due to their central role in local healthcare access.
Retail Location and Site Attributes
This CVS Pharmacy occupies a highly visible retail location along a primary corridor serving Summerville and the surrounding communities. The site benefits from excellent accessibility, strong daily traffic counts, and proximity to other national retailers, grocery stores, and community institutions.
Additional site highlights include:
CVS properties with drive-thru functionality, high visibility, and access to key residential areas maintain strong store-level performance and long-term viability.
Credit Strength and Tenant Profile
CVS Health is a best-in-class tenant in the single-tenant net lease market. With over $300 billion in annual revenue and a reputation for site retention and operational consistency, CVS is a preferred tenant for investors seeking low-risk, long-term holdings.
Key tenant attributes include:
CVS’s durable cash flow, strategic site selection, and nationwide operational stability provide an exceptional foundation for investors seeking predictability and value preservation.
Investment Highlights
Conclusion
The CVS Pharmacy in Summerville, South Carolina offers an exceptional opportunity to acquire a passive, income-generating asset anchored by a nationally recognized tenant in one of the Southeast’s most dynamic growth markets. With a corporate-backed absolute NNN lease, strategic suburban location, and exposure to the Charleston MSA, this asset delivers long-term stability, inflation protection, and reliable returns.