Property details
1031, Southeast Region
Additional Loan Info
Interest Only, 1% of Principal Balance plus administrative cost, 30-Year Amortization
Property Description
1031 free-standing CVS Pharmacy
• Attractive debt in place
• 100% leased under a 25 year lease term.
Lease dates shown are estimates. Actual dates are subject to verification.
What is 1031 ?
1031 refers to code section 1031 of the IRS which allows a 1031 exchange buyer to sell their 1031 investment property and defer taxes by replacing it with another 1031 property.
Properties related to 1031
» Search for all properties related to 1031 by using our PROPERTY SEARCH, expand the Property Types, then check the boxes for "Single Tenant" and "Ground Lease".
About the Tenant
CVS is a leader in the retail drugstore industry in the United States.
Images
Highlights
- Status:
- Available
- Price:
- $6,540,000
- PSF:
- $503
- Cap Rate:
- 5.75%
- Annual Rent:
- $375,946
- Rent Increases:
- Inquire
Property Information
- Building Size:
- 13,013 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Drug - Pharmacy
- Units/Spaces:
- 1
- Land Area:
- 1.56 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- CVS
- Lease Type:
- NNN
- Lease Commencement:
- 9/1/2007
- Lease Expiration:
- 7/31/2032
- Lease Term:
- 25 years
- Years Remaining:
- 24 years
- Landlord Responsibilities:
- No landlord responsibilities
- Options:
- Inquire
Existing financing information
- Interest rate:
- 5.63%
- Amortized over:
- 30 years
- Annual Cash Flow:
- $375,946
- Cash on Cash Return:
- 17.57%
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.