UNIQUE 60% PAYDOWN READVANCE OPPORTUNITY 18048 Jefferson Davis Hwy 5 389 pi² Commerce de détail Immeuble Ruther Glen, VA 22546 4 412 694 $ CAD (818,83 $ CAD/pi²) 5,66% Taux de capitalisation

HMX Realty is pleased to present for sale a Zero Cash Flow CVS Pharmacy located in the Richmond Virginia MSA, a wealthy and high growth area south of Washington DC. This property is offered with a zero cash flows structure with pay down readvance available. Loan to value is 60% allowing a 1.9 million pay down readvance.
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.