Single-Tenant CVS Pharmacy | Prime Net-Lease Investment Opportunity

206 S Main Street, Hemingway, SC 29554 | Florence MSA

Executive Investment Summary

Lee & Associates, in association with Bang Realty, is pleased to exclusively offer for sale a single-tenant corporate CVS Pharmacy located at 206 S Main Street in Hemingway, South Carolina, within the expanding Florence Metropolitan Statistical Area (MSA). Offered fee simple, this commercial real estate asset features a high-performing 11,475-square-foot retail building situated on a prominent 1.33-acre parcel.

Originally constructed in 1985 and comprehensively renovated in 1996, the building is 100% leased to CVS Health Corporation, the nation’s premier pharmacy operator. Backed by an investment-grade credit rating (S&P: BBB) and a robust corporate guarantee, this offering presents investors with a secure, passive income stream supported by a battle-tested retail tenant.

Tenant Overview & Long-Term Site Commitment

CVS Health Corporation (NYSE: CVS) stands as the largest pharmacy operator and healthcare provider in the United States, operating more than 9,000 retail locations nationwide.

• Proven Historical Performance: CVS has successfully operated at this specific Hemingway address since 1996, establishing a 30-year track record of successful retail operation and strong community presence.

• Extended Lease Term: The current lease structure extends through November 2032, ensuring over six years of guaranteed baseline operational revenue before entering the extension periods.

• Hedge Against Inflation: The lease agreement features three (3) five-year renewal options, each incorporating 5% rental increases to provide continuous net operating income (NOI) growth over time.

• Attractive Below-Market Rent: CVS currently pays an incredibly low rent of approximately $8.28 per square foot. This below-market rate yields a highly favorable occupancy cost ratio for the tenant—significantly enhancing long-term operational stability and mitigating downside risk from a replacement-cost perspective.

Strategic Real Estate Location & Market Dominance

Primary Retail Corridor & Grocery Anchor Adjacency

The property is positioned with prime visibility and access along South Main Street (US Highway 51), the primary commercial artery traversing Hemingway. The site benefits from direct adjacency to a high-traffic, Food Lion-anchored shopping center, creating a synergistic retail ecosystem that drives consistent daily foot traffic directly past the property.

Unmatched Regional Monopoly

This location enjoys an exceptional market position: it is the only corporate CVS or Walgreens pharmacy within a 20-mile radius. This geographic advantage limits direct competitive pressure, ensuring the asset retains a near-monopoly on local prescription fills, essential everyday retail goods, and local drive-thru pharmacy needs.

Regional Economic Hub with Excellent Connectivity

Hemingway acts as an indispensable commercial hub for the surrounding rural communities of Williamsburg and Florence counties. The property benefits from seamless highway connectivity to key regional employment and consumer markets:

• Florence, SC: Regional industrial and healthcare center.

• Myrtle Beach, SC: Major coastal tourism and population growth node.

• Charleston, SC: Top economic, port, and population center in the Southeast.

This regional positioning delivers steady consumer demand, fortifying the long-term intrinsic real estate value and long-term investment appeal of this single-tenant net-lease asset.

Key Investment Highlights

• Tenant: CVS Health Corporation (Corporate Guarantee)

• Credit Rating: Investment Grade (S&P: BBB)

• Building Size: $\approx$ 11,475 SF

• Land Area: $\approx$ 1.33 Acres

• Ownership: Fee Simple

• Occupancy: 100% Leased

• Initial Year Built / Renovated: 1985 / 1996

• Lease Expiration: November 2032

• Renewal Options: Three (3) 5-Year Options with 5% Escalations

• Current Rent: $\approx$ $8.28 / SF (Substantially Below Market)