CVS

INVESTMENT HIGHLIGHTS

• Recently Extended Lease – In 2020 CVS had executed their first option period from the original 20-year lease term. Then in 2022, CVS restructured the lease and agreed to extend the term by ten additional years demonstrating their commitment to this location. This is a strong performing location, reach out to brokers for further details.
• Nearby Developments – The city of Gulfport is currently undergoing a $55 Million mixed-use project downtown with 250 new luxury apartments – 10 min away. A major tourism addition has been TrainTastic, the world’s largest interactive model railroad museum (50,000 SF) – 10 min away. The Gulfport-Biloxi International Airport is also clearing nearby land to prepare 126 acres for future aerospace and aviation facilities – 9 min away.
• Strategic Location – The site is located on Highway 49 which captures over ±48,100 vehicles per day. Nearby retailers include Walgreens, Chick-Fil-A, Texas Roadhouse, Best Buy, Sam’s Club, Winn-Dixie, Hobby Lobby, AutoZone, and McDonald’s. This store also benefits from Crossroads Center, which include Ulta Beauty, Barnes & Noble, T.J. Maxx, Academy Sports, PetSmart, and many others.
• Hospital Synergy – The property benefits tremendously from Singing River Gulfport Hospital, which contains 130 beds. Hospital proximity allows CVS patients coming from the hospital to conveniently pick up their prescriptions, boosting pharmacy revenue.
• Zero Landlord Responsibilities – The lease is absolute NNN with no landlord responsibilities. The tenant is responsible for common area maintenance, insurance, utilities, taxes and maintains all aspects of the premises.