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Trophy CVS with Extraordinary Assumable Debt 7950 E Hampden Ave 13,111 SF Retail Building Denver, CO 80237 $17,547,054 ($1,338.35/SF) 4.65% Cap Rate
INVESTMENT HIGHLIGHTS
- The Lease offers a 25-year term that commenced January 4, 2022.
- The Property is located in the south eastern part of Denver in the Hampden neighborhood at the signalized corner of East Hampden Ave and S Tamarac Dr.
- This is trophy real estate with an investment-grade tenant that can be passed down for generations.
- There are a combined 85,000 vehicles passing by daily and approximately 130,000 people living within 3 miles.
EXECUTIVE SUMMARY
Trophy investment opportunity. Single tenant absolute NNN CVS property extraordinary assumable debt. Long term CVS lease. Corporate CVS lease guaranteed by CVS Health Corporation. Over 21 years remaining on 25-year, absolute net lease that commenced in 2022 with five, 5-year renewal options. Scheduled rent increases in option periods. 3.45% fixed interest rate over entire term of the loan with Protective Life Insurance Company. Debt is fully amortizing over the primary term of the CVS lease and matures January 1, 2047. Current loan balance of approximately $8,200,000 (original loan of $9,000,000). Monthly loan payment of $44,815.14 ($537,781.68 annually). Positive leverage and favorable cash flow in today’s higher interest rate environment makes this loan assumption ideal for exchange buyers with a significant debt replacement requirement.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,111 SF
Building Class
B
Year Built
2022
Price
$17,547,054
Price Per SF
$1,338.35
Cap Rate
4.65%
NOI
$815,938
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.48 AC
Zoning
S-MX-3, Denver
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (73)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 7042-00-041 | Improvements Assessment | $653,840 |
| Land Assessment | $530,570 | Total Assessment | $1,184,410 |
PROPERTY TAXES
Parcel Number
7042-00-041
Land Assessment
$530,570
Improvements Assessment
$653,840
Total Assessment
$1,184,410
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Presented by
Van Hull Commercial
Trophy CVS with Extraordinary Assumable Debt | 7950 E Hampden Ave
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