CVS Pharmacy for Sale in Locust, NC
Locust, NC
Key Investment Metrics
Price
$2,068,421
Cap Rate
4.8%
Net Operating Income
$98,250
Building Size
10200 SF
Land Area
1.27 Acres
Remaining Term
13.5 years
Lease Expiration
01/30/2040
Lease Term
36.4 years
Lease Commencement
09/11/2003
Lease Type
Absolute NNN
Tenant Credit
Corporate Guarantee
Year Built
2003
Tenancy
Single
Rent Increases
10% Every 5 Years (Option Periods)
Property overview
CVS Pharmacy in Locust
Review the reported property and lease details, then request the supporting documents for your acquisition review.
- Building area
- 10,200 SF
- Land area
- 1.27 acres
- Year built
- 2003
- Lease type
- Absolute NNN
- Lease expiration
- 01/30/2040
Confirm current availability, pricing and lease terms through the inquiry form before relying on this listing.
Before you make an offer
Four things to verify
- 1
Lease and guaranty
Request the executed lease and amendments. Identify the legal tenant, guarantor and landlord obligations.
- 2
Income and expenses
Obtain the rent roll and operating statement supporting the advertised NOI and cap rate.
- 3
Property condition
Review survey, title, condition and environmental information relevant to this property.
- 4
Exchange requirements
For a 1031 exchange, confirm eligibility and deadlines with your qualified intermediary and tax adviser.