CVS
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CVS Properties
Did you know...
CVS is right behind Walgreens in drug store demand?
Michigan
CVS Property #pnnns 17:21:55
CVS Tenant: CVS
Pharmacy
Credit Rating: S&P "A"
State Located: Michigan
Lease Term: 22-Year Primary Lease term.
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: November, 2000
Annual Rental Income (NOI): From years 1
through year 22 $242,117
Price: $2,883,974. Only
$308,997 in cash is required to purchase this property!
Financing Obligations:
Loan is Non-Recourse.
Current Loan Balance: $2,574,977 (est.)
Interest Rate: 7.75%
Annual Debt Service: $242,117
Annual Cash Flow: $0
Remarks:
Loan not subject to paydown/readvance.
Fully amortized property.
This is a "Bond-Net" lease.
Not subject to paydown & re-advance.
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
filled.
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CVS - Further explanation of these types of investments
The CVS contained herein have been obtained from CVS sources believed to be reliable. While we do
not
doubt the accuracy of these CVS, we have not verified it and make no guarantee, warranty or
representation
about the accuracy or completeness of the CVS information. As a CVS buyer, it is your
responsibility to
independently confirm the accuracy and completeness. Any projections, opinions, assumptions or
estimates used
are for example only and do not represent the current or future performance of the CVS. The value
of these
CVS 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 CVS to determine to your
satisfaction the suitability of the property for your needs. By requesting further information,
you agree to
indemnify Quality Real Estate and shall hold Quality Real Estate harmless from any kind of claim,
cost, expense,
or liability arising out of your investigation and/or purchase of these CVS.
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