525 W Parker Rd.
Plano, TX 75023 ·
12,900 SF · Retail For Sale
CVS zero or paydown loan to get cash flow
|Building Size||12,900 SF||No. Stories||1|
|Property Sub-type||Free Standing Bldg||Year Built||2009|
|Property Use Type||Net Lease Investment with 10+ years left on lease||Lot Size||1.87 AC|
|Listing ID: 17940416||Date Created: 12/06/2012||Last Updated: 07/10/2013|
"Bond Style" Lease equals a no work real estate investment. CVS pays for and does everything. Even if the building were to be hit by a meteor, CVS would have to pay the rent and rebuild
Recent construction in mostly built out upper income north Dallas metro city of Plano. Favorable assumable debt and lease structure with rapid amortization and tax benefits, results in higher cap rate on renewal. Approximately 22 years remaining on absolutely net lease. Loan fully amortizes 3 years prior to lease expiration.
The assumable financing offers both rapid amortization and reduced taxable income based on the section 467 lease treatment.
The loan was originated when interest rates were higher, resulting in higher renewal rental rates during the option periods.
CVS has ten options to renew of five years. The first two renewal options are at a fixed rent. The remaining options are at market rents.
This property is located in a highly developed upper income neighborhood in Plano, one of the most desirable cities in America, which has received numerous notices for having the lowest poverty rate and highest safety levels of any city with more than 250,000 people.
Great high income area. Largely built out.
Recent Construction/Modern Design
On primary access road between residential and US 75 (Central Expressway)
Truly a worry free asset with a "bondable" lease backed by investment grade rated credit. An excellent property for a trade and for value down the road.
- Can be structured with cash flow or a zero
- Rapid, secure amortization equals significant asset build up, while section 467 reduces taxes
- "Bond Style" Lease. See notes below.
- Excellent debt replacement for trade
- First Two fixed renewals at $27,339.49 per month ($328,073.88 per annum)
- Low Downpayment plus depreciation plus section 467 lease structure creates importa
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