CVS Pharmacy

2738 US Highway 31 - Pelham (Birmingham) AL 35124

LTV (Loan to Value)	65.00%	Current NOI	$199,260.00
Interest Rate	4.250%	Capital Rate	7.250%
Fixed Term	10 Years	Land Area
Amortization	25 Years	Lease Type	NN
Loan Amount	$1,786,468.45	Property Type	Retail
Payment	$9,677.98	Property Lease	Drug Store
Bulding Size	10,125 SF	Remaining Terms	3.5 Years

Location Description

NNN Lenders is pleased to offer for sale to qualified investors a 10,125 square foot freestanding CVS Pharmacy property located in Pelham, Alabama. CVS is operating under a twenty (20) year double net (NN) lease with four (4), five (5) year option periods including increases every five (5) years in the base term. The property is strategically located in the market of Pelham, situated to serve the tenant’s targeted demographic, with a population of 24,185 and an average household income of $89,727 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

Pelham is a city and suburb of Birmingham in Shelby County, Alabama and is one of the fastest growing cities in Alabama. Pelham is located in the foothills of Oak Mountain, and scenic neighborhoods offer a retreat from the busy world.Birmingham is the largest city in Alabama and the county seat of Jefferson County. The Birmingham-Hoover Metropolitan Statistical Area had a population of about 1,128,047 according to the 2010 Census, which is approximately one quarter of Alabama’s population.