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Ohio
Zero Flow Listings Property #pnnns 17:21:55
Zero Flow Listings Tenant:
CVS Pharmacy
Credit Rating: S&P "A"
State Located: Ohio
Size of Building: 10,125 Square Feet Building
Land Area: 1.338 Acres
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: October, 2000
Annual Rental Income (NOI): From years 1
through year 22 $265,565
Price: $3,108,930. Only
$333,100 in cash is required to purchase this property!
Financing Obligations:
Loan is Non-Recourse.
Current Loan Balance: $2,775,830 (est.)
Interest Rate: 7.75%
Annual Debt Service: $265,565
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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