Bond Type Properties
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Bond Type Properties
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Bond Type Properties are considered by many to be the most secure type real estate investment
Bond Type Properties Property #pnnns 17:21:55
Bond Type Properties Tenant:
Credit Rating: S&P "A"
State Located: Michigan
Size of Building: 10,880 Square Feet Building
Land Area: 1.320 Acres
Lease Term: 22-Year, 8 month Primary Lease
Lease Type: NNN - ABSOLUTE TRIPLE NET with
NO Landlord responsibilities to the buyer. Tenant is responsible for ALL expenses, including
property taxes, maintenance, repairs, all insurance, roof and structure, and all other costs.
Rent Commencement Date: March, 2001
Annual Rental Income (NOI): From years 1
through year 22.8 $257,231
Price: $3,160,660. Only
$338,642 in cash is required to purchase this property!
Loan is Non-Recourse.
Current Loan Balance: $2,851,508 (est.)
Interest Rate: 7.28%
Annual Debt Service: $257,231
Annual Cash Flow: $0
Can be purchased all cash (subject to refinancing) or as premium over debt.
This is a "Bond-Net" lease.
CVS Operates over 4,100 stores in the Northeast and Mid-Atlantic portions of the U.S. For the
year ending December 2000, CVS reported sales of $20.1 billion. CVS is publically traded on the
NYSE (CVS) and has an S&P rating of "A". With the recent acquistion of Revco and Arbor Drugs, CVS
is the #2 drugstore chain in the U.S. in total sales and #1 in store count and prescriptions
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The Bond Type Properties contained herein have been obtained from Bond Type Properties sources
believed to be reliable. While we do not
doubt the accuracy of these Bond Type Properties, we have not verified it and make no guarantee,
warranty or representation
about the accuracy or completeness of the Bond Type Properties information. As a Bond Type
Properties buyer, it is your responsibility to
independently confirm the accuracy and completeness. Any projections, opinions, assumptions or
are for example only and do not represent the current or future performance of the Bond Type
Properties. The value of these
Bond Type Properties to you depend on factors which should be evaluated by your tax, financial and
legal advisors. You and
your advisors should conduct a careful, independent investigation of these Bond Type Properties to
determine to your
satisfaction the suitability of the property for your needs. By requesting further information,
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or liability arising out of your investigation and/or purchase of these Bond Type Properties.
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