Property For Sale Listing 183842
CVS Pharmacy - Absolute NNN Lease
Status as of Dec-2-2008 at 01:22 AM: Active
Property Summary
The subject property is a 10,125-square foot free-standing CVS Pharmacy located in Washington Court House (WCH), Ohio. WCH is located approximately 50 miles south of Columbus, Ohio's state capital.
The property is located on Columbus Avenue (ST RT 62), a major northsouth thoroughfare that runs through WCH. The property is adjacent to a major shopping center and other national retailers. The lease is guaranteed by CVS Corporation. They have been at this location since 1998. The lease is an absolute NNN. The tenant is responsible for taxes, insurance, common area maintenance, and all roof and structural responsibilities. The landlord simply collects monthly rent checks. There is a loan that must be assumed. The loan amount is $1,750,000. The loan is currently interest only at 5.815 percent fixed until 12/1/2015. There is an optional prepayment on 12/1/2015. The buyer has the option to refinance on or before 12/1/2015. If the buyer elects
not to refinance, the debt becomes self-liquidating. All rents collected from the property will be applied toward the loan balance. The maturity date is 12/1/2035. Strategically located near Ohio’s major arteries and within easy reach of the country’s heartland, Fayette County is just minutes away from more than 3.5 million people. Less than an hour’s drive from Columbus, Cincinnati, and Dayton, the county combines the benefits of a rural community with easy access to major metropolitan markets.
Categories
Location
| Classification: |
United States // Midwest States // Ohio // Other Ohio |
Price
| Price Classification: |
Between $2.5 Million and $5 Million |
| Asking Price: |
$2,575,000 |
Property Type
| Classification: |
Retail-Commercial Properties |
| Type: |
STNL - Drugstore |
