Listed by Bang Realty
$2,202,588
CVS
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,342
Cap Rate 15.18%
NOI $334,310
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 25.1
Lease Expiration 01/30/2035
Remaining Term 8.5
Rent Bumps Yes
Lease Options Eight (8) 5 Year Options
Price per SqFt $154
Year Built 2009
Acreage 1.950
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 12/22/2009
Ground Lease Yes
Leasehold Loan Assumption - Qualifies for 100% Bonus Depreciation
Investment highlights
- Qualifies for Year 1 Accelerated Bonus Depreciation 100%
- Loan Assumption Zero Cash Flow
- Absolute Net Bond Lease | No Landlord Responsibilities
- Within 2.7 Miles of Arizona State University West Campus | 64,716 Students Currently Enrolled
- Arizona State University is the Third Largest University in The State
- Lease is Corporately Guaranteed by CVS, the largest pharmacy chain in the U.S | S&P "BBB+"
- Busy Intersection With Combined Traffic Counts Exceeding 69,441
- Strong Retail Corridor W/ Neighboring Retailers Such as: Fry's, McDonalds, Panda Express, Salad & Go, Chick-Fil-A, Starbucks, Chipotle, Michael's and Much more
- Steady Population Growth | Estimated 0.2% Annual Population Growth For Next 5 Years
- Located Within 1.5 Miles of Lake Prairie Towne Crossing | National Retailers Include Home Depot, Target, Chick-Fil-A , McDonalds, Five below & Many More
Listing Contacts
Listed by Bang Realty
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$334,310.00
$27,859.17/mo
Valuation Metrics
0
DSCR
15.18%
Cap Rate
15.18%
ROI
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