18048 Jefferson Davis Hwy - Drug Store FOR SALE


Ruther Glen, VA 22546
$3,177,000 USD
917-741-1525
18048 Jefferson Davis Hwy, Ruther Glen, VA for Sale
$3,177,000 USD
Drug Store - FOR SALE
1/4
null | 5.66% Cap Rate

18048 Jefferson Davis Hwy
Ruther Glen, VA 22546


HIGHLIGHTS

  • 60% Loan to Value Self Liquidating Debt
  • Loan has Pay Down Readvance Feature
  • Assumable loan has a 3.42% interest rate
  • $100,000+ average household income in 1, 3, 5-mile radius
  • 6.46% annual population growth rate in 1-mile

OVERVIEW

HMX Realty is pleased to present for sale a Zero Cash Flow CVS Pharmacy located in a wealthy, high-growth area south of Fredericksburg in northern Richmond. At 5,389 sf, this CVS features the brand's preferred footprint. Rent is low at only $179,820, making the asset particularly attractive. This property is offered with a zero-cash flow structure and pay-down readvance available, allowing an investor to cash out 60% of the purchase price immediately post-closing with no tax consequences. The interest rate on the spring-loaded, self-liquidating debt is only 3.42%. The property is ideal for a 1031 exchange. The Zero Cash Flow structure allows a 1031 buyer to acquire the asset for virtually all cash ($3,177,000) and have the debt re- advanced to $1,906,000 immediately post-closing. 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 5,389-sf building sits on 1.25 acres and is leased for 16+ years to CVS, an investment-grade company, on an absolute bond triple-net lease with no landlord responsibilities. The existing debt self-liquidates over 13 years at 3.42% with a three- 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.

FOR SALE DETAILS

PRICE

$3,177,000 USD

PRICE/SF

$590 USD /SF

CAP RATE

5.66%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

UNIQUE 60% PAYDOWN READVANCE OPPORTUNITY

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

CROSS STREETS

Ladysmith Rd

LAND ACRES

1.25 AC

LAND SF

54,450 SF

ZONING

B1

APN/PARCEL ID

52-A-61

ASK ABOUT THIS PROPERTY

Rob JamesHMX1031.COMMore Info
917-741-1525

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Rob JamesHMX1031.COMMore Info
917-741-1525

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.