CVS Health Corporation (NYSE: CVS) operates retail pharmacy and pharmacy benefit management businesses in the United States. The company offers prescription drugs, general merchandise, including over the counter drugs, beauty products and cosmetics, seasonal merchandise, greeting cards, convenience foods, and film and photofinishing services.
- Tenant: CVS Pharmacy
- Location: 286 E 7th St, Douglas, AZ 85607
- Property Type: Freestanding, Retails
- Building Size: 11,945 Square Feet
- Purchase Price: $4,298,983.56
- Income Stream: Zero for ~21 year
Douglas, Arizona is a thriving trade-based metropolitan area with superior amenities, a growing economy, and a moderate cost of living.
Douglas has experienced rapid population growth–35% since 1990.
The dense retail market, 6.2M SF – is among the highest SF per capita in U.S. Additionally, the area’s positive economic trends and retail vacancy are near post-recession lows.
Tenants-in-Common or TIC ownership allows multiple buyers to purchase an undivided percentage of a single piece of property. Each buyer receives his own deed to the property and benefits from all of the income, tax shelters and appreciation it provides. This Millcreek Commercial property has the following characteristics:
- Property is offered debt-free
- Long-term, corporate-guaranteed lease
- Satisfies IRS requirements for 1031 exchanges
Office | 801.899.1943
- Lease Guarantor: CVS Corporation
- Initial Lease Term: 25, 21 Years remaining
- Renewal Options: Ten 5-year Extensions
- Lease Type: NNN Lease, Zero Cash Flow
- LTV: 73%