Cap Rate: 5.35%
Net Operating Income: $251,717
Lot Size: 3.71 AC
Year Built: 2007
This is a rare CVS/pharmacy absolute net leased offering in Danville, Virginia. The lease calls for zero landlord obligations with two 5 year options at 90% of prior rent, then eight 5 year options at FMV, along with a rent holiday for the last three years of the lease. The asset is well situated on a major commercial thoroughfare and is nearby PATHS Community Medical Center.
Danville is an independent city in the Commonwealth of Virginia in the United States, located on the fall line of the Dan River. It was a major center of Confederate activity during the Civil War, due to its strategic location on the Richmond and Danville Railroad, and today is principal city of the Danville, Virginia Micropolitan Statistical Area.