| Purchase Price | $6,350,000 |
|---|---|
| Annual Rental Income | $345,900 |
| Cap Rate | 5.45% |
| Lease Term | 17 Years |
| City | Murfreesboro |
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CVS Pharmacy – Murfreesboro, TN
This CVS Pharmacy property located in Murfreesboro, Tennessee is backed by a long-term absolute triple-net (NNN) lease with CVS Health, a Fortune 500 company and one of the most established pharmacy retailers in the U.S. The asset offers passive, stable cash flow, zero landlord responsibilities, and strong lease security in a dynamic, fast-growing Tennessee metro.
Tenant Overview
CVS Pharmacy, a subsidiary of CVS Health (NYSE: CVS), operates more than 9,000 locations nationwide. The company is a national leader in prescription services, over-the-counter medications, immunizations, and front-end retail—including household goods, personal care items, and convenience groceries. CVS continues to expand its footprint in primary care and healthcare access, further solidifying its long-term relevance as an essential service provider.
Lease Structure
The property is subject to an absolute NNN lease, in which the tenant is responsible for all expenses including taxes, insurance, maintenance, and capital repairs. This structure provides a truly passive investment opportunity, ideal for buyers seeking predictable, long-term income from a high-credit tenant with no operational involvement required.
Murfreesboro Market Overview
Murfreesboro is one of the fastest-growing cities in Tennessee and part of the Nashville metropolitan area. With a population of over 160,000 and rapidly increasing, Murfreesboro is a major hub for education, healthcare, commerce, and residential development. Its location along the I-24 corridor between Nashville and Chattanooga makes it highly attractive for both commuters and businesses.
Demographics & Economic Drivers
Murfreesboro boasts a strong, educated workforce and a growing middle- and upper-income population. Median household income is above the state average, and the city’s expanding job base supports consistent consumer demand. The area attracts families, students, and professionals, all of whom rely on CVS’s accessible healthcare and retail offerings.
Essential Retail & Community Presence
CVS serves as both a trusted pharmacy and daily needs retailer within the Murfreesboro community. The store generates steady, necessity-driven foot traffic and provides vital services to a broad demographic. With the healthcare landscape shifting toward accessible, neighborhood-based models, CVS continues to play a central role in primary care delivery and over-the-counter health support.
Tenant Credit & Investment Security
CVS Health is an investment-grade tenant with a long-standing reputation for operational stability and real estate commitment. The company has demonstrated excellent lease retention and market adaptability, especially in suburban growth markets like Murfreesboro. For investors, this translates to reduced risk and strong income reliability.
Investment Highlights