Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a six-property CVS Pharmacy portfolio located throughout Alabama, featuring assets in Dothan, Montgomery, Vestavia Hills, Hueytown, Huntsville, and Madison. The portfolio offers investors the flexibility to acquire all six properties as a single institutional-quality offering or purchase individual assets separately. Five properties feature identical lease structures, while the Huntsville location is being offered as a leasehold interest. Additionally, the portfolio is 100 percent leased to Alabama CVS Pharmacy, LLC and benefits from a corporate guaranty from CVS Health Corporation, providing investors with income backed by one of the nation’s largest and most established pharmacy operators. With approximately 12 to 14 years of remaining primary lease term, including five leases extending through 2038 and the Huntsville location extending through 2040, the portfolio delivers durable long-term cash flow supported by investment-grade tenancy. CVS has operated at these locations for an average of approximately 27 years, demonstrating a longstanding commitment to each market and validating the strategic importance of the stores within the company’s operating platform. The portfolio is leased on a net lease structure with tenants reimbursing operating expenses, including taxes, insurance, and common area expenses, while also reimbursing landlords for parking lot repairs and replacement on an amortized basis. Across the portfolio, ownership has completed significant capital improvements to the roof systems, with all six properties featuring roofs installed or replaced between 2018 and 2026 and backed by manufacturer warranties ranging from 15 to 20 years. These recent improvements reduce near-term capital requirements while enhancing the overall quality and stability of the investment. Combining long-term contractual income, investment-grade credit, established operating histories, and recently completed capital improvements, this portfolio represents a compelling net-leased investment opportunity with both portfolio-scale and individual acquisition flexibility.