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604 Corner Ketch Road
Newark, DE 19711
Asking Price
$7.62M
Cap Rate
6.43%
Asset Type
Pharmacy/Drug Retail
Class
Class B
What's Special
Signalized hard corner location in extremely affluent Philadelphia submarket <ul><li><span style="color: rgba(33, 37, 41, 1)">19+ years remaining on absolute net lease</span></li><li><span style="color: rgba(33, 37, 41, 1)">Zero cash flow lease structure</span></li><li><span style="color: rgba(33, 37, 41, 1)">Ability to acquire at cap rate 100+ basis points better than market due to debt structure providing a conservative basis to investor</span></li><li><span style="color: rgba(33, 37, 41, 1)">Corporate guaranty from CVS Health Corporation (see below)</span></li><li
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NOI
$80,000
Cap Rate
1.05%
DSCR
0.18
Underwater
Cash-on-Cash
-16.29%
Monthly Payment
$37,680.357
Annual Cash Flow
$-372,164.281
