| Purchase Price | $5,700,000 |
|---|---|
| Annual Rental Income | $300,150 |
| Cap Rate | 5.26% |
| Lease Term | 17 Years |
| City | Georgetown |
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CVS Pharmacy – Georgetown, KY
This CVS Pharmacy property located in Georgetown, Kentucky is secured by a long-term absolute triple-net (NNN) lease with CVS Health, one of the most stable and creditworthy tenants in the U.S. retail landscape. The investment provides passive income, zero landlord responsibilities, and the security of an essential service tenant with strong national presence.
Tenant Overview
CVS Pharmacy is a wholly owned subsidiary of CVS Health (NYSE: CVS), a Fortune 500 company and a leader in integrated healthcare. With over 9,000 pharmacy locations nationwide, CVS provides critical healthcare services including prescription fulfillment, immunizations, retail health clinics, and general retail items such as personal care, food staples, seasonal products, and convenience goods. The brand is recognized for its reliability, high-frequency customer base, and consistent financial performance.
Lease Structure
The property is subject to an absolute triple-net lease, in which the tenant is responsible for all expenses including property taxes, insurance, maintenance, and repairs. This creates a true “hands-off” investment for the owner with predictable, long-term income backed by a corporate guarantee from CVS Health. The lease typically includes a firm primary term and multiple renewal options, ensuring long-term operational stability.
Georgetown Market Overview
Georgetown is located in Scott County and is part of the Lexington metropolitan area. It is one of Kentucky’s fastest-growing cities, with a population of over 37,000 and a strong local economy anchored by automotive manufacturing, healthcare, education, and logistics. Georgetown is home to Toyota’s largest manufacturing plant in North America, which continues to drive population growth, job creation, and economic stability.
Demographics & Retail Demand
The city boasts a median household income above the state average, and its growth trajectory has fueled demand for high-quality, essential retail services. As the population expands, so does the need for reliable healthcare access—positioning CVS as a critical and high-traffic destination within the community. The store serves a broad customer base that includes families, seniors, professionals, and essential workers.
Retail Role & Tenant Strength
CVS acts as both a healthcare provider and daily-needs retailer in Georgetown, reinforcing its status as an anchor tenant in the community. The tenant’s strong operating performance, investment-grade credit rating, and adaptability to healthcare trends (including walk-in clinics and vaccinations) enhance long-term value. Its necessity-based model continues to perform well through economic cycles and changing consumer behavior.
Investment Highlights