CVS Lease: Danville, VA

Store No. 6283
Location: 817 Main Street, Danville, VA
Sq. Footage: 11,945
Open Date: 7/1/2007
NOI/Debt Service: $251,717
Est. Loan (Jan. 2013): $2,507,999
467 Loan: $162,737
Required Equity: $450,000
Sales Price: $3,120,736
  1. Initial lease term 25 years, 2 months, commencing in December – 07 and expiring on January 31, 2033.
  2. Loan term is 22 years, with an interest rate of 6.943%.
  3. Fully-amortizing, non-recourse loan.
  4. Tenant has a 3 year rent holiday in the last 3 years of the initial lease
  5. Debt must be assumed
  6. Properties are zero cash flow
  7. Absolute net lease; no landlord responsibilities.