770.913.3900

SOLD – Net Leased CVS (Kaplan, Louisiana)

SOLD – Net Leased CVS (Kaplan, Louisiana)

100 South Cushing Avenue

Kaplan, LA 70548

Ackerman & Co’s Retail Investment Sales team is pleased to exclusively present for sale a net-leased CVS located in Kaplan, Louisiana. This recently constructed CVS property includes an absolute net lease structure with zero landlord responsibilities. The store, built in late 2006, features CVS’ newer store model prototype. The store is located at a signalized intersection in the heart of Kaplan’s retail corridor.

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Contacts

Sean W. Patrick, CCIM

Senior Vice President, Investment Sales

770.913.3946

spatrick@ackermanco.net

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Overview

  • Fully Amortizing Assumable Loan: This offering includes a twenty-two (22) year self-amortizing loan which means the debt on the property is scheduled to be completely paid off from the CVS rental payments in year twenty-two (22) of the twenty-five (25) year initial lease term for CVS.
  • Absolute Net Lease: This offering includes an absolute net lease structure with zero landlord responsibilities. All expenses, including repairs to the building, roof, and parking lot are borne by CVS.
  • Low Equity Requirement: The ZCF structure enables an investor to utilize the tenant’s investment grade tenant with a high leverage, non-recourse fully amortizing loan. It also allows an investor to purchase a premier drugstore tenant using a significantly lower amount of equity than what is usually required.
  • Long term “bond style” Investment: This structure fits well for 1031 exchange needs and estate planning goals – ideal asset to form a trust with.
  • Benefits of Tax Deductions: The ZCF structure enables qualified investors to take deductions for depreciation and interest and offset other income using a relatively small amount of equity.
  • Low Purchase Price: This offering includes a purchase price per square foot that is significantly lower than most of the recently sold CVS and Walgreens stores built during this timeframe.
  • Superior Credit Tenant: CVS originated in 1963, the second largest U.S. Pharmacy presently has over 7300 drugstores in the United States and Puerto Rico. Currently, CVS has a BBB+ Investment grade rating from Standard & Poor’s with a market capitalization value of approximately $61BB.