10660 sw 40 th st., miami, fl 33165 · 2019-12-24 · jason witt – senior advisor . 925.683.4489...

Jason Witt – Senior Advisor 925.683.4489 [email protected]

10660 SW 40th St., Miami, FL 33165 • Recently completed (2017) CVS w/ drive thru pharmacy. • 25 yr. primary term ground lease with nine 5-yr. options. • Extremely Rare, Miami MSA location. • “CVS y mas” format provides enhanced, personalized service to

the local community (click here to learn more). • Large 2.38 acre lot at high traffic, signalized corner: 85,000+ vpd. • Tax-free state • 5% rent bumps in each option period

Actual Store

Price: $16,305,000 Cap: 4.60%

Dan Lem – Owner 415.385.7381

[email protected]

CONTACT:

https://cvshealth.com/newsroom/press-releases/cvspharmacy-y-mas-launches-new-shopping-experience-hispanic-community-miami

Property Profile

This is an opportunity to purchase a long term, NNN CVS (NASDAQ: CVS) ground lease (you own the ground) located in Miami, FL, just 10 miles from downtown Miami. The high traffic, signalized corner averages approx. 85,000 vpd., with total population in excess of 500,000 within a 5 mi. radius. The property is subject to a 25 yr. CVS corporate ground lease that commenced in 2017 and runs thru 2042. Thereafter, CVS has Nine 5-yr options to renew with 5% rent bumps at each option.

The information above has been obtained from sources deemed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. Investor is responsible to confirm the accuracy and

completeness of the information using Investor's own experts.

Pricing

Price: $ 16,305,000

Cap Rate: 4.60%

Monthly Income: $62,500

Annual Income: $750,000

Nine 5-yr options to renew with 5% rent bumps at each option.

Building

Building SF approx.: 14,989

Land Acreage approx.: 2.38 ac

Year Built: 2017

Lease Overview Tenant: CVS (NASDAQ: CVS) Landlord Income: CORPORATE GUARANTEE Credit Rating: INVESTMENT GRADE, BBB (S&P) Lease Type: NNN No Landlord responsibilities Lease Term: Original 25 year lease with Nine 5-year options. Lease Commencement Date: Nov. 2017 Right of First Refusal: 15 days

10660 SW 40th St., Miami, FL 33165

The information above has been obtained from sources deemed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. Investor is responsible to confirm the accuracy and completeness of the information using Investor's own experts.

10660 SW 40th St., Miami, FL 33165

Aerial

Aerial – Nearby Hospitals


10660 SW 40th St., Miami, FL 33165

Subject Property

Westchester General Hospital

- 4.2 miles away - 125 beds

Leon Medical Center


Baptist Hospital of Miami


Nicklaus Childrens Hospital


Kendall Regional Medical Center - 1.7 miles away

- 417 beds


10660 SW 40th St., Miami, FL 33165

1.15 mi. to Kendall Regional Medical Center

Dense Residential Population: 500,000+ within 5 mi.

Aerial


10660 SW 40th St., Miami, FL 33165

SW 40th St. ( 50,000 vpd)

Aerial

Site Plan


10660 SW 40th St., Miami, FL 33165

Demographics


10660 SW 40th St., Miami, FL 33165

Location Overview

The City of Miami, the seat of Miami-Dade County, is the cultural, economic and financial center of South Florida in the United States. The Miami metropolitan area is home to 6.1 million people, the second-most populous in the southeastern United States and the seventh-largest in the nation. The metro area is by far the largest urban economy in Florida and the 12th largest in the United States, with a GDP of $344.9 billion as of 2017. According to a 2018 UBS study of 77 world cities, the city was ranked as the third-richest in the United States.

The information above has been obtained from sources deemed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. Investor is responsible to confirm the accuracy and

completeness of the information using Investor's own experts.

10660 SW 40th St., Miami, FL 33165

Tenant Overview


CVS Health (NASDAQ: CVS) is a pharmacy company with more than 9,800 retail pharmacies and more than 1,100 walk-in clinics. CVS is also a pharmacy benefit manager (PGM) with more than 94 million plan members, a dedicated senior pharmacy care business serving more than 1 million patients per year, expanding specialty pharmacy services for patients who require treatment for rare or complex conditions, and a leading stand alone Medicare Part D prescription drug plan. This unique integrated model increases access to quality care, deliver better health outcome and lowers overall health care costs.

TENANT PROFILE

Guarantor: CVS Health

Ownership: Public

Stock Symbol (NASDAQ): CVS

Credit Rating (S&P): BBB

Business: Drug Retail

Founded 1892

Chief Executive Officer Larry Merlo

Locations: 9,800

Annual Revenue: $ 185.94 Billion (as of June 2018)*

Net Worth: $ 65.5 Billion (as of June 2018)*

Headquarters: Woonsocket, RI

Website: https://cvshealth.com/

* Forbes Click Here

10660 SW 40th St., Miami, FL 33165

https://www.forbes.com/companies/cvs-health/

About CVS/pharmacy y mas


10660 SW 40th St., Miami, FL 33165

Jason Witt – Senior Advisor 925.683.4489 [email protected]

10660 SW 40th St., Miami, FL 33165

Offering Memo

Actual Store

Price: $16,305,000 | Cap: 4.60%

Dan Lem – Owner 415.385.7381

[email protected]

CONTACT:

• Recently completed (2017) CVS w/ drive thru pharmacy. • 25 yr. primary term ground lease with nine 5-yr. options. • Extremely Rare, Miami MSA location. • “CVS y mas” format provides enhanced, personalized service to the local community (click

here to learn more). • Large 2.38 acre lot at high traffic, signalized corner: 85,000+ vpd. • Tax-free state • 5% rent bumps in each option period

Click HERE to Make an Offer



https://www.lemrx.com/make-an-offer

10660 sw 40 th st., miami, fl 33165 · 2019-12-24 · jason witt – senior advisor . 925.683.4489...

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