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UNIQUE 60% PAYDOWN READVANCE OPPORTUNITY 18048 Jefferson Davis Hwy 5,389 SF Retail Building Ruther Glen, VA 22546 $4,434,838 CAD ($822.94 CAD/SF) 5.66% Cap Rate
INVESTMENT HIGHLIGHTS
- 60% Loan to Value Self Liquidating Debt
- Assumable loan has a 3.42% interest rate
- 6.46% annual population growth rate in 1-mile
- Loan has Pay Down Readvance Feature
- $100,000+ average household income in 1, 3, 5-mile radius
EXECUTIVE SUMMARY
The property is ideal for a 1031 exchange. The Zero Cash Flow structure allows a 1031 Exchange buyer the ability to acquire the asset for virtually all cash ($3,177,000) and have the debt re-advanced to $1,906,000 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.
The property is a 5,389-sf building on 1.25 acres of land, and the leased for 16+ years to CVS, an investment grade company on an absolute bond triple-net lease with no landlord responsibilities whatsoever. The existing debt self-liquidates over the next 13 years and has an interest rate of 3.42% with a 3-year rent holiday starting in November 2038.
Area Summary: The CVS is located just off Interstate 95 at the traffic light corner of Jefferson Davis Highway and Ladysmith Road in Ruther Glen, VA. Ruther Glen is part of the Richmond MSA and conveniently located between Richmond and Washington DC. The Richmond MSA is a center for law, finance and government. The area is home to one of 13 United States Court of Appeals, and one of 12 Federal Reserve Banks. Fortune 500 Companies headquartered in the area include Dominion Resources, MeadWestvaco, CarMax, Owens & Minor, Genworth Financial and Altria Group, while many others have a major presence.
The intersection offers immediate access to Interstate 95, the main north–south Interstate Highway on the East Coast of the United States, and a mix of commercial tenants that support the surrounding area. In addition to CVS, nationally or regionally recognized tenants include a Food Lion Supermarket, Advance Auto, Atlantic Union Bank, Citgo fuel station, Family Dollar, and Dollar General. CVS location is supported by a wealthy and growing demographic.
PROPERTY FACTS
AMENITIES
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- 5,389 SF
- $46.57 CAD
- Triple Net
- Jan 2042
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 TYPE | LEASE END | |
|
|
Retailer | 5,389 SF | $46.57 CAD | Triple Net | Jan 2042 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 52-A-61 | Improvements Assessment | $1,106,254 CAD |
| Land Assessment | $1,139,490 CAD | Total Assessment | $2,245,744 CAD |
PROPERTY TAXES
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UNIQUE 60% PAYDOWN READVANCE OPPORTUNITY | 18048 Jefferson Davis Hwy
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