CVS Pharmacy | Absolute NNN Lease
$7,433,000
2801 Egypt Road, Audubon, PA 19403
6.75
Cap Rate
502,439
NOI
Details:
Description:
LOCATION HIGHLIGHTS
• High Income Suburb of Philadelphia, PA: The 3-Mile population has an average household income of $135,036 per year
• Dense Population: Over ±45,000 residents live within 3 miles of the property
• Oversized ±1.77 Acre Parcel
LEASE & PROPERTY DETAILS
• Property can either be acquired free and clear or with an assumable loan. The loan is interest only and matures in 2029 with a cash on cash return of 9.39%
• Long Term Lease: ±14 years of remaining lease term
• Hedge Against Inflation: Rental increases included in the option periods
• Absolute NNN Lease, Zero Landlord Responsibilities
• In 2018, CVS signed a 20-yr lease extension, showing a strong commitment to the site
• At the list price, a new owner will receive over 90% of the purchase price in guaranteed income from CVS
CVS OVERVIEW
• Investment Grade Credit Rating: BBB per S&P and Baa2 per Moody’s
• CVS Health’s Market Cap is $70 Billion
• CVS has over 9,000 stores in the United States
• Corporately Guaranteed
Documents:
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Location
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