CVS Pharmacy

2233 W. US 90 - Lake City FL 32055

LTV (Loan to Value)	65.00%	Current NOI	$223,968.00
Interest Rate	4.250%	Capital Rate	5.500%
Fixed Term	10 Years	Land Area	1.36 Acre
Amortization	25 Years	Lease Type	NN
Loan Amount	$2,646,887.10	Property Type	Retail
Payment	$14,339.20	Property Lease	Drug Store
Bulding Size	11,945 SF	Remaining Terms	17.7 Years

Location Description

NNN Lenders is pleased to offer for sale to qualified investors an 11,945 square-foot freestanding CVS Pharmacy property located on 1.36 acres in Lake City, Florida. CVS is operating under a twenty-five (25) year double net (NN) lease with six (6), five (5) year option periods including a 10% increase in option one (1) and 5% increases in each successive option period. The property is strategically located in the market of Lake City, situated to serve the tenant’s targeted demographic, with a population of 18,585 and an average household income of $49,463 within a three (3) mile radius.The property is 100% leased to CVS Health Corporation (NYSE: CVS, S&P: BBB+). CVS/pharmacy currently operates more than 7,800 stores across the country with over 26,000 pharmacists. The company boasted annual revenues in excess of $139.36 billion as of December 2014 with a current net worth of approximately $37.95 billion.

Highlights

CVS Credit Strength – The subject property is currently leased to CVS Health (S&P: BBB+). CVS is considered to be…

Property Description

Lake City is the seat of Columbia County, and is home to roughly 11,300 residents. Lake City has seen significant growth, going from 9,953 residents in 2006 to over 11,000 today. Situated at the crossroads of Interstate 10 and Interstate 75, with a convenient location approximately 60 miles from Jacksonville, 45 miles from Gainesville, and 104 miles from Tallahassee, Lake City can be considered a central fixture of North Florida.Columbia County Florida is well-positioned to provide rural living with urban access. Long known as the Gateway to Florida, Columbia County offers direct access to Florida’s Strategic Intermodal System.