|Listing CVS | Non-Recourse Debt in Place | 7.90% Cash-on-Cash Return|
On behalf of the ownership, is pleased to exclusively offer for sale a fee simple interest in this CVS Pharmacy located in Pleasant Valley, Alabama. The subject location has over 19 years remaining on a double net lease with attractive rental increases in the option periods. There is assumable non-recourse debt in place which must be assumed. At the offering price, provides a purchaser an attractive 7.90% cash-on-cash return. In March 2015, the debt begins to amortize on a 30 year schedule on which will reduce an
Potential purchasers will also notice that the price point of this location is lower than most drug stores available today. To the investors benefit, this store was constructed in 2001 before the significant appreciation in land costs and construction costs which drove up rental rates in the late 2000′s. Due to the tenantâs low cost of occupancy and the store sales of this location, the tenant opted to restructure the lease and provide for a new 20-year term.
CVS | Non-Recourse Debt in Place | 7.90% Cash-on-Cash Return