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Just Listed: CVS NNN 14+Yrs 7.32 Cap 7749 Garners Ferry Rd
13,225 SF Retail Building Columbia, SC 29209 $3,210,000 ($243/SF) 7.32% Cap Rate
Investment Highlights
- CVS Credit with 14+ year Absolute Bond Type Net Lease
- Loan has Pay Down Readvance Feature
- Rapidly Growing area with low $17.70 psf rent
- 64% Loan to Value Self Liquidating Debt
- Columbia is the State Capital of South Carolina
- 7.32% Cap Rate
Executive Summary
This property is offered with a Zero Cash Flow structure with Paydown Re-Advance available. The property is on 2.00 acres of land and the lease is 100% guaranteed by CVS, an Investment Grade company. The property is ideal for a 1031 Exchange. The Zero Cash Flow structures allows a 1031 Exchange buyer the ability to acquire the asset for virtually all cash ($3,210,000) and have the debt re-advanced to $2,043,000 immediately post-closing. The mortgage proceeds from the re-advanced loan are not subject to capital gains or income tax, however, HMX Realty Advisors is not qualified to give legal, or tax advice.
CVS is responsible for the continuation of rent event in the event of a casualty (Bond Triple Net). This structure is superior to an absolute triple net lease in this regard. The existing debt self-liquidates over the next 11+ years and has an interest rate of 4.7%. There is a three-year rent holiday starting in February of 2036.
Property Facts
Amenities
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Retailer
- -
- $17.77
- Triple Net
- Jan 2039
CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Retailer | - | $17.77 | Triple Net | Jan 2039 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 19100-06-19 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,543,900 |
PROPERTY TAXES
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Just Listed: CVS NNN 14+Yrs 7.32 Cap | 7749 Garners Ferry Rd
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