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Just Listed NNN CVS 12+Yrs 7.67% Cap 1075 E Hudson Blvd
13,731 SF Retail Building Gastonia, NC 28054 £3,403,658 (£248/SF) 7.67% Net Initial Yield
Investment Highlights
- CVS Credit with 12+ year Absolute Bond Type Net Lease
- Loan has Pay Down Readvance Feature
- Rapidly Growing Area
- 54% Loan to Value Self Liquidating Debt
- 7.67% Cap Rate
- Charlotte MSA
Executive Summary
The property is on 1.99 acres of land and the lease is 100% guaranteed by CVS, an Investment Grade company. The property is ideal for a 1031 Exchange. The Zero Cash Flow structures allows a 1031 Exchange buyer the ability to acquire the asset for virtually all cash ($4,350,000) and have the debt re-advanced to $2,361,000 immediately post-closing. The mortgage proceeds from the re-advanced loan are not subject to capital gains or income tax, however, HMX Realty Advisors is not qualified to give legal, or tax advice.
CVS is responsible for the continuation of rent event in the event of a casualty (Bond Triple Net). This structure is superior to an absolute triple net lease in this regard. The existing debt self-liquidates over the next 9 years and has an interest rate of 5.92%. There is a 2.92-year rent holiday starting in February of 2034.
AREA SUMMARY:
The property is located at the traffic light corner of E. Hudson Blvd and Union Road in Gastonia, NC. Gastonia is part of the Charlotte metropolitan area, located just 18 miles west of downtown Charlotte.
The Charlotte MSA is considered a major U.S. Financial Center as it is home to the headquarters of both Bank of America, and the East Coast operations of Wells Fargo. In addition, 10 Fortune 500 companies are based in Charlotte including Lowe’s, Nucor, Duke Energy, and Family Dollar. The Charlotte Region has a major base of energy-oriented organizations and has become known as “Charlotte USA – The New Energy Capital.” The area is experiencing rapid growth and has outstanding demographics.
The E. Hudson and Union Road intersection is a key commercial destination for the surrounding market. In addition to CVS, nationally recognized tenants include ALDI and LIDL supermarkets, McDonalds, Burger King, Taco Bell, Goodwill, and Family Dollar.
Property Facts
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
- Signalised Intersection
- Drive Thru
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
-
- Retailer
- -
- -
- -
CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
|
|
Retailer | - | - | - |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 219196 | Improvements Assessment | £1,899,017 |
| Land Assessment | £774,243 | Total Assessment | £2,673,260 |
PROPERTY TAXES
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Just Listed NNN CVS 12+Yrs 7.67% Cap | 1075 E Hudson Blvd
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