SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in an absolute NNN leased, corporate guaranteed, drive-thru equipped, CVS Pharmacy, investment property located in Central Falls, RI. The tenant, CVS Pharmacy, LLC (S&P: BBB+), has more than 3 years remaining in their initial term with 8 (5-year) options to extend. The lease features a 5% rental increase at the beginning of each option period, steadily growing

NOI and hedging against inflation. The next rent increase of 5% is scheduled to take place February 1, 2024 upon tenant execution of first option period. The lease is corporate guaranteed and is absolute NNN with zero landlord responsibilities.

The subject property is located at the signalized, hard corner intersection of Clay Street and Broad Street (13,500 VPD), with nearby on/off ramp access to Interstate 95 (90,400 VPD), a major thoroughfare going through the state of Rhode Island as a whole. The site is in the heart of a dense retail corridor, with nearby national/credit tenants including Family Dollar, Rite-Aid, Walgreens, Shell, Burger King, and more, increasing consumer draw to the trade area.

This CVS contains a two-lane drive thru, which provides ease of access and convenience for pharmacy customers. The site is directly adjacent to the main railway of Rhode Island, which goes from Newport, RI, through Central Falls, and east into Massachusetts, servicing over 455,000 passengers annually. A state-of-the-art train and bus station will soon be located less than a half-mile away from the site, further increasing consumer draw to the immediate trade area. Development of the new station is projected to cost about $40MM, and is scheduled to begin by the end of 2018, with the station opening in 2020. The 5-mile trade area has strong demographics, serving over 144,000 residents and over 183,000 employees with an average household income of $72,151.