1 CVS Pharmacy 2 N Broadway Avenue Sylacauga, AL 35150 2 SANDS INVESTMENT GROUP EXCLUSIVELY MARKETED BY: NEAL BROCK Lic. # 396164 404.381.1339 | DIRECT [email protected] 1501 Johnson Ferry Road, Suite 200 Marietta, GA 30062 www.SIGnnn.com In Cooperation with BoR: Andrew Ackerman Lic. #C0001099750 3 SANDS INVESTMENT GROUP TABLE OF CONTENTS 04 06 07 12 14 INVESTMENT OVERVIEW LEASE ABSTRACT PROPERTY OVERVIEW AREA OVERVIEW TENANT OVERVIEW Investment Summary Lease Summary Property Images City Overview Tenant Profile Investment Highlights Rent Roll Location, Aerial & Retail Maps Demographics © 2020 Sands Investment Group (SIG). The information contained in this ‘Offering Memorandum’, has been obtained from sources believed to be reliable. Sands Investment Group does not doubt its accuracy; however, Sands Investment Group makes no guarantee, representation or warranty about the accuracy contained herein. It is the responsibility of each individual to conduct thorough due diligence on any and all information that is passed on about the property to determine its accuracy and completeness. Any and all projections, market assumptions and cash flow analysis are used to help determine a potential overview on the property, however there is no guarantee or assurance these projections, market assumptions and cash flow analysis are subject to change with property and market conditions. Sands Investment Group encourages all potential interested buyers to seek advice from your tax, financial and legal advisors before making any real estate purchase and transaction. ACTUAL PROPERTY IMAGE SANDS INVESTMENT GROUP INVESTMENT 4 SUMMARY Sands Investment Group is Pleased to Present Exclusively For Sale a 10, 055 SF CVS Pharmacy Located at 2 N Broadway Avenue in Sylacauga, Alabama. This Corporate Guaranteed Lease Has Over 9 Years Remaining, Providing For a Secure Long- Term Investment Opportunity i n One of Alabama’s “Best Kept Secrets”. OFFERING SUMMARY PRICE $4,361,585 CAP 5.30% NOI $231,164 PRICE PER SF $433.77 GUARANTOR CVS Caremark Corp PROPERTY SUMMARY ADDRESS 2 N Broadway Avenue Sylacauga, AL 35150 COUNTY Talladega BUILDING AREA 10,055 SF LAND AREA 1.14 AC BUILT 2004 CVS PHARMACY 5 HIGHLIGHTS § Over 9 Years Remaining on a 25-Year Double Net (NN) § SylaCauga Has Been Named One of the “100 Best Lease With Limited Landlord Responsibilities Communities For Young People” By America’s Promise Alliance and is Considered to Be One of “Alabama’s Best Kept SeCrets” § CVS Has SuCCessfully Operated at This LoCation SinCe 2005, Showing Commitment to the Site § Limited Competition in the Market § Highly Visible and Highly Trafficked Site Sitting on the Signalized Hard Corner of N Broadway Avenue (10,966 § Nearby Tenants InClude: Dollar General, Family Dollar, VPD) the Primary North-South Thoroughfare in Town Arby’s, Wendy’s, Home Depot, Walmart SuperCenter, AutoZone, Zaxby’s and More § The Site is Ideally LoCated Within Close Proximity to Multiple Residential Communities, LoCal Businesses, § Strong Corporate Guarantee From CVS Caremark and PubliC Schools InCluding SylaCauga High School and (NYSE: CVS), WhiCh Has an S&P Investment Grade B.B. Comer High School Credit Rating of “BBB” § Site Sits 3 BloCks From Coosa Valley MediCal Center, § The Tenant Has Over 10,000 LoCations Across 49 WhiCh Has 222 Staffed Beds States and Washington D.C., Puerto Rico and Brazil ACTUAL PROPERTY IMAGE LEASE SUMMARY6 TENANT CVS Pharmacy PREMISES Building of Approximately 10,055 SF LEASE COMMENCEMENT February 1, 2005 LEASE EXPIRATION January 31, 2030 LEASE TERM 9+ Years Remaining RENEWAL OPTIONS 6 x 5 Years RENT INCREASES 5% at Options LEASE TYPE Double Net (NN) PERMITTED USE Retail Drugstore PROPERTY TAXES Tenant’s Responsibility INSURANCE Tenant’s Responsibility COMMON AREA Tenant’s Responsibility ROOF & STRUCTURE Landlord’s Responsibility REPAIRS & MAINTENANCE Tenant’s Responsibility HVAC Tenant’s Responsibility UTILITIES Tenant’s Responsibility RIGHT OF FIRST REFUSAL No SQUARE ANNUAL RENT FOOTAGE BASE RENT PER SF 10,055 SF $231,164 $22.99 ACTUAL PROPERTY IMAGES 7 8 BIRMINGHAM 9 N Norton Ave N Broadway Ave W Fort Williams St 10 N Norton Ave N Broadway Ave W Fort Williams St 11 W Fort Williams St N Broadway Ave SYLACAUGA | TALLADEGA COUNTY | ALABAMA Sylacauga is a city in Talladega County, Alabama. At the 2019 census the population was 12 around 12,034 residents. Nicknames for Sylacauga include "The Marble City", “The Cog”, and "Alabama’s Best-Kept Secret". Sylacauga is known for its fine white marble bedrock. The marble industry was the first recorded industry in the Sylacauga area. Sylacauga is on the 2010 list of "100 Best Communities for Young People" by America's Promise Alliance. The city is part of the Birmingham-Hoover, AL MSA and is also included in the Birmingham-Hoover-Talladega, AL CSA. The city is located less than 45 miles to Birmingham’s downtown. With an estimated 2019 population of 209,403 people, Birmingham is the most populous city in Alabama. As of 2018, the Birmingham-Hoover MSA had a population of 1,151,801, making it the most populous in Alabama. Due to the city's close proximity, Birmingham’s economy affects Sylacauga’s. Birmingham is a leading banking center, serving as home to two major banks: Regions Financial Corporation and BBVA Compass. In 2019, Birmingham's largest private companies by annual revenue and employees were Brasfield & Gorrie, LLC ($3.31 billion; 1,210 employees), Coca-Cola Bottling Company United ($2.81 billion, 860 employees), EBSCO Industries ($2.8 billion; 1,556 employees), and McWane Inc. ($2 billion, 570 employees). The Buffalo Rock Company and the Coca-Cola Bottling Company, two of the largest soft- drink bottlers in the United States, each with more than $500 million in sales per year, are located in Birmingham. The Birmingham metropolitan area has consistently been rated as one of America's best places to work and earn a living based on the area's competitive salary rates and relatively low living expenses. Sylacauga is home to the DeSoto Caverns which are a series of caves and a tourist attraction. Located in the foothills of the Appalachian Mountains, it is touted as "Alabama's Big Cave". In addition to the caves, the park offers various other attractions, including a three-quarter acre maze known as the Lost Trail Maze, panning for gemstones, a climbing wall, and amusement park style rides. The city is also home to the Comer Museum & Arts Center. The city includes Lake Howard which is a favorite place for locals to go to in the hot summer months. People can swim, go boating, fishing and go walk through the Sylaward Trails that surround the Lake. LAKE HOWARD SYLACAUGA, AL BIRMINGHAM, AL 3 MILES 5 MILES 10 MILES 13 POPULATION 13,635 18,883 30,365 AVERAGE HH $49,590 $51,352 $51.662 INCOME N Broadway Ave (20,563 VPD) W Fort Williams St (3,715 VPD) (10,966 VPD) (10,966 14 CVS PHARMACY TENANT PROFILE CVS Pharmacy is the second largest pharmacy chain in the United States with more than 10,000 locations in 49 states including the District of Columbia and Puerto Rico. The company was founded in Lowell, Massachusetts and originally named the Consumer Value Store. CVS Pharmacy is currently the largest pharmacy chain in the United States by number of locations and total prescription revenue. As the retail pharmacy division of CVS Health, it ranks as the 12th largest company in the world serving 5 million customers each day. CVS sells prescription drugs and a wide assortment of general merchandise including over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods through their CVS Pharmacy and Longs Drugs retail stores. It also provides healthcare services to more than 1,100 MinuteClinic medical clinics in 33 states including the District of Columbia. As a pharmacy innovation company, CVS focuses on charitable giving in ways that will help people on their path to better health by improving health outcomes and building healthier communities. Their in- store fundraising campaigns, in-kind donations and corporate grants provide support for national nonprofit partners that are focused on helping people on their path to better health. COMPANY TYPE FOUNDED # OF LOCATIONS HEADQUARTERS WEBSITE NYSE: CVS 1963 10,000+ Woonsocket, RI cvs.com SANDS INVESTMENT GROUP 15 CONFIDENTIALITY AGREEMENT The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Sands Investment Group and should not be made available to any other person or entity without the written consent of Sands Investment Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, Sands Investment Group has not verified, and will not verify, any of the information contained herein, nor has Sands Investment Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.