CVS Lease: Fredericksburg, VA

Store No. 7589
Location: 4201 Plank Road, Fredericksburg, VA
Sq. Footage: 11,800
Open Date: 3/1/2008
NOI/Debt Service: $554,780
Est. Loan (Jan. 2013): $5,527,585
467 Loan: $248,638
Required Equity: $980,000
Sales Price: $6,756,233
  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.