Cove Pharmacy Net Lease 70 DST

Owosso, MI

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Asset Class:Single Tenant Net Lease
Leverage:0% - All-Cash/Debt-free
Location(s):Owosso, MI
Minimum Investment:$50,000
Current Distribution:Monthly/Inquire
Offering Type:DST
1031 Exchange Qualified:Yes

Property Description

Pharmacy Net Lease 70 DST is a 14,820 square foot Walgreens Pharmacy with drive-thru. Owosso, which is part of Shiawassee County, is located approximately 30 miles northeast of Lansing, the capital city of Michigan. The lease is absolute NNN, providing for zero landlord responsibilities and has approximately 10 years remaining. Walgreens, which is publicly traded on NASDAQ (WBA), has a current "BBB" investment grade credit rating by S&P and reported annual revenue of over $148.5 billion in 2021. Walgreens is also ranked #45 on the Fortune 500 list.

MSA Details

Owosso is the largest city in Shiawassee County, Michigan and was incorporated as a city in 1859. The city is located 92 miles northwest of the most populous city in the state, Detroit, and a 35 minute drive from the state capital of Lansing. Notable attractions in Owosso include the Steam Railroading Institute, Curwood Castle, and the bustling downtown area. Owosso is the headquarters of the Great Lakes Central Railroad, which provides freight service to Northern and Southern Michigan. It also provides chartered passenger rail service and tours through its association with Lake Central Rail Tours. Lansing is the capital of Michigan, and the third largest MSA in the state. Lansing is centrally located and within 90 minutes of 90% of the state's population. The Lansing metropolitan area, referred to as "Mid-Michigan", is an important center for educational, cultural, governmental, commercial, and industrial functions.

Property Highlights

  • Absolute NNN Lease - Zero landlord responsibilities for operating or capital expenses
  • Freestanding Walgreens drug store with drive-thru is 14,820 SF and situated on 1.77 acres
  • Strategic location with limited competition: only Walgreens in the city of Owasso with only 1 other national pharmacy chain in a five-mile radius
  • Close-proximity to Owosso East Plaza - 197,569 SF community retail center anchored by Kroger. Additional traffic generators in the center include Dunham's Sports, Tractor Supply Co, Pet Supplies Plus, Subway and many more
  • Located along Michigan Highway-21 - This populated thoroughfare connects Owosso to Grand Rapids and provides easy access to Michigan Route 52 (20,477 VPD), Interstate 75 and several other main travel arteries in Michigan

Source: Brochure

The market information provided above may not predict the future performance of the property.

*Distribution is not guaranteed and is subject to available cash flow. For further information about cash flow distributions from operations and capital events, please refer to the offering’s Private Placement Memorandum.

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Risks & Disclosures

All offerings shown are Regulation D Rule 506c offerings.

This material has been prepared for accredited investors (generally described as having a net worth of over $1 million dollars exclusive of primary residence) and accredited entities only. If you are unsure if you are an accredited investor and/or an accredited entity, please verify with your CPA and Attorney prior to considering an investment.

The information herein has been prepared for educational purposes only and does not constitute an offer to purchase securitie or real estate investments. Such offers are only made through the sponsors Private Placement Memorandum (PPM) which is solely available to accredited investors and accredited entities.

IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax concepts, therefore you should consult your legal or tax professional regarding the specifics of your particular situation prior to considering an investment.

This material is not to be interpreted as tax or legal advice. Please speak with your own tax and legal advisors for advice/guidance regarding your particular situation.

There are risks associated with investing in real estate and Delaware Statutory Trust (DST) properties including, but not limited to, loss of entire investment principal, declining market values, tenant vacancies and illiquidity.

Investors should read the PPM carefully before investing paying special attention to the risk section.

Because investors situations and objectives vary this information is not intended to indicate suitability for any particular investor. Please speak with your CPA and Attorney to determine if an investment in real estate and DST properties is suitable for your particular situation/circumstances.

Past performance is not indicative of future returns.

Potential cash flows/returns/appreciation are not guaranteed and could be lower than anticipated.

There are significant limitations on the ability to sell or transfer interests.

Expected cash flows and returns may not be realized and a loss of invested capital is possible.

The Sponsor, Co-Sponsor, Master Tenant, Trustee & Affiliates will all receive substantial fees relating to the syndication, ongoing management and disposition of this offering.

Securities offered through FNEX Capital, member FINRASIPC.

There are important risks specific to each tenant and their respective leases, including expiration dates, early termination options, renewal options and economics relating to rents paid and expense reimbursements. Should a tenant fail to meet their obligations, terminate early or fail to renew their lease it could have a material negative impact on the financial performance of this property.