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CVS Exceptional Southern California location

14220 Schleisman Rd, Eastvale, CA, 92880

For Sale

Property Highlights

- Greater Los Angeles MSA
- 223,500 population with 146,500 average household income in five miles
- High traffic intersection with double turn lanes
- Hard corner with superior visibility
- Near top performing Albertsons
- Continuation of rent in event of casualty
- Assumable non recourse debt
- Population of 25,000 within 1 mile

Property Details

Price: $7,653,657
Property Type: Retail
Transaction Type: For Sale
Cap Rate: 5.25%
Building Size: 14,576 SF
Lot Size: 1.74 AC
Lease Type: NNN

Property Description

The property is a 14,576 square foot free-standing retail facility on 1.74 acres of land 100% occupied by CVS on a bonded triplenet lease with 13.5 years remaining on the base term of the lease, with ten, 5-year options remaining thereafter. CVS 100% guarantees the lease in which they are responsible for all property expenses including the continuation of rent event in the event of a casualty.

This property is being offered on a free and clear basis or with the assumable zero cash flow debt. If the purchaser elects to buy the property free and clear of the existing debt the seller will defeasethe loan at closing and deliver the property debt free. Because CVS has a three year rent holiday starting on February 2034 and ending on January 2037, the seller will issue acredit for the full amount of this rent at closing.

If the buyer elects to assume the existing self liquidating debt, the seller will not issue a credit for the rent holiday at closing. Note that the debt service payments equal the rent that CVS pays. The terms of the existing assumable zero cash flow debt are approximately as follows as of December 2023.

Financial Summary

Investment Highlights

Price	$0.00
Price / Unit	$0.00
Gross Rent Multiplier	0.00
Proposed Loan Amount	$0.00
Initial Investment	$0.00

Income & Expenses

Income

Potential

Current

Expense	Potential	Current
Total Expenses	$ 0.00	$ 0.00
Net Operating Income	$0.00	$0.00
Less Debt Service	$0	$0
Potential Net Cash Flow	$0.00	$0.00
Cash on Cash Return	0.00 %	0.00 %
Capitalization Rate	0.00 %	0.00 %

CVS-eastvale2023-09-12-OM.pdf

Rent Roll

Unit	BR/BA	Current Monthly Rent	Potential Monthly Rent	Status	Lease Expires
Totals		$ 0.00	$ 0.00

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The purpose of this Letter of Intent is to set forth the general terms and conditions under which is interested in buying the above referenced property. This is a non-binding letter of intent. The Buyer and Seller agree that the terms set forth below are not all of the material terms that need to be agreed to by them. There are additional material terms that the parties will negotiate as they complete the Purchase Agreement and Escrow Instructions. If the terms below stated are acceptable, it is our intention to negotiate the remaining material terms and complete a Purchase and Sale Agreement and Escrow instructions within fifteen (15) days of the date this Letter of Intent is executed by both parties.

(For all cash transactions write “none”)

Due Diligence:

Buyer shall have:

days following the execution of a formal purchase agreement and escrow instructions and Buyer’s receipt of all books and records for the subject property to conduct its due diligence with respect to the acquisition of the property. The following items will be made available to Buyer provided that they are in the possession of the seller.

Phase I Environmental Report
Preliminary Title Report
Alta Survey
Full Copies of Leases and other related documents including REA’s
Building Plans
Tenant Financial Statements (if available)
Building Guarantees and Contract Agreements (if any)

Close of Escrow

The closing of the transaction contemplated herein shall take place on or before:

days from the expiration of the due-diligence period.

Closing Costs

Seller and Buyer shall share all escrow and recording fees on an equal basis. Buyer shall pay for title insurance and any updates to environmental reports or surveys. Transfer tax will be allotted per local custom.

Broker Representation:(if applicable)

While this is not an offer to purchase, if you are in agreement with the general terms we have set forth, please so indicate by signing a copy of this Letter of Intent and returning it.

Thank you for your consideration in this matter.

Sincerely,

Accepted & Agreed