PHARMACYCVSMEM

ORA

NDUM

CVS | St. Paul, MN

OFFER

ING

sean@nnnadvisory.com

CA LIC #01438647

Sean O’SheaManaging Principal

(310) 433-8851

Stephen DombrovskiSuntide Commercial Realty, Inc MN Broker of Record

Table of Contents

The O’Shea Net Lease Advisory

CVS | St. Paul, MN

Pricing & Financial AnalysisBrand OverviewInvestment Overview

Property DescriptionBirds Eye Tenant Map Aerial MapCity Map

DemographicsDemographics ReportCity Overview

EXCLUSIVELY LISTED BY: Sean O’SheaManaging Principal (310) 433-8851

The O’Shea Net Lease Advisory

CVS | St. Paul, MN

CVS Health Corporate    'Best-in-Class’

CVS Health Corporation (formerly CVS Caremark Corp.) together with its subsidiaries is one of the largest pharmacy health care providers in the United States; with integrated offerings across the entire spectrum of pharmacy care. CVS is unique among the big three retail drugstore chains (Walgreen’s, Rite Aid, CVS), in that is operates its own pharmacy benefit management (”PBM”), and is thus, an integrated pharmacy health care provider. CVS’s offerings include pharmacy benefit management services; mail order, retail and specialty pharmacy; disease management programs; and retail clinics. CVS operates drugstores throughout the U.S., the District of Columbia, and Puerto Rico. As of December 31, 2014, CVS operated 7,599 retail locations. Its stores sell prescription drugs, as well as other products such as nonprescription medications, health and beauty aids, and cosmetics. The company also operates the nation’s largest medical care clinic, with 900 MinuteClinic® health care clinics throughout the country. MinuteClinics® are sta�ed by nurse practioners and physician assistants, who utilize nationally recognized protocols to diagnose and treat minor health conditions, perform health screenings, monitor chronic conditions, and deliver vaccinations. CVS expects to grow MinuteClinic® 1,500 locations in more than 35 states by 2017.

Existing retail stores range in size from approximately 5,000 to 25,000 square feet, although most new stores range in size from approximately 8,000 to 13,000 square feet and typically include a drive-thru pharmacy. During 2014, CVS �lled approximately 734 million retail prescriptions, or approximately 21% of the U.S. retail pharmacy market. As of December 31, 2014, CVS operated 900 retail health care clinics in 31 states and the District of Columbia under the MinuteClinic® name, the vast majority of which are located within CVS/pharmacy stores. There were 24 million patient visits, nationally.

The quarterly dividend increased by 38 percent in 2013 and the company recently announced another 22 percent increase for 2014, which marks the 11th consecutive year of increases.

CVS is strongly positioned to take full advantage of the upcoming ‘Generic Wave’ due to its integrated systems with Caremark for pharmacy bene�t management (”PBM”) for 2015 and beyond.

Brand Overview

03

Investment Overview

The O’Shea Net Lease Advisory

LocationAsking Price (Rent Credit)

810 Maryland Ave E, St. Paul, MN 55106

$4,577,029

Debt Status

Lease Expires

CVS | St. Paul, MN

RareOption Periods

04

5.25%

1/31/2030

Option 1 @ $320,652 (33% increase) Options 2 -10 @ FMV

Rent Holiday* 3 Years (Year 23 - 25)

Free & Clear

Lease Type

Building Size

Absolute NNN

15,460 ± SFCap Rate

NOI $240,294.24

Adjusted Net Price (w/ Credit) $3,856,146

6.23%Adjusted Net Cap Rate (w/ Credit)

Full Credit (for Rent Holiday) $720,882 Year Built 2004

The O’Shea Net Lease Advisory

05

Bird’s Eye

CVS | St. Paul, MN

Arcade St

Maryland Ave E

Rose Ave

The O’Shea Net Lease Advisory

06

Surrounding Retailers

CVS | St. Paul, MN

Arcade Animal Hospital

Liberty Tax Services

Community Dental Care - St. Paul

The O’Shea Net Lease Advisory

07

City Map

CVS | St. Paul, MN

The O’Shea Net Lease Advisory

08

City Map

CVS | St. Paul, MN

St. Paul

Minneapolis

The O’Shea Net Lease Advisory

City Map

09 CVS | St. Paul, MN

2004

15,460 SF

General Retail

Year Built:

GLA:

Building Type:

Secondary: Drug Store

Radius 1 Mile 3 Mile 5 Mile

Population

2023 Projection 24,940 155,772 346,879

2018 Estimate 24,137 150,084 334,836

2010 Census 23,006 139,276 314,477

Growth 2018 - 2023 3.33% 3.79% 3.60%

Growth 2010 - 2018 4.92% 7.76% 6.47%

2018 Population by Hispanic Origin 3,263 18,043 34,795

2018 Population 24,137 150,084 334,836

White 10,095 41.82% 70,383 46.90% 199,707 59.64%

Black 3,587 14.86% 26,379 17.58% 53,390 15.95%

Am. Indian & Alaskan 507 2.10% 2,358 1.57% 4,235 1.26%

Asian 8,783 36.39% 44,337 29.54% 63,806 19.06%

Hawaiian & Pacific Island 29 0.12% 142 0.09% 352 0.11%

Other 1,136 4.71% 6,484 4.32% 13,345 3.99%

U.S. Armed Forces 8 50 88

Households

2023 Projection 7,778 56,610 135,705

2018 Estimate 7,534 54,460 130,990

2010 Census 7,220 50,084 123,037

Growth 2018 - 2023 3.24% 3.95% 3.60%

Growth 2010 - 2018 4.35% 8.74% 6.46%

Owner Occupied 4,242 56.30% 27,001 49.58% 73,374 56.01%

Renter Occupied 3,292 43.70% 27,459 50.42% 57,616 43.99%

2018 Households by HH Income 7,533 54,461 130,990

Income: <$25,000 1,964 26.07% 15,325 28.14% 29,476 22.50%

Income: $25,000 - $50,000 1,968 26.13% 14,177 26.03% 31,909 24.36%

Income: $50,000 - $75,000 1,513 20.08% 10,092 18.53% 24,914 19.02%

Income: $75,000 - $100,000 966 12.82% 6,327 11.62% 16,459 12.57%

Income: $100,000 - $125,000 451 5.99% 3,752 6.89% 10,523 8.03%

Income: $125,000 - $150,000 258 3.42% 2,102 3.86% 7,278 5.56%

Income: $150,000 - $200,000 319 4.23% 1,777 3.26% 6,156 4.70%

Income: $200,000+ 94 1.25% 909 1.67% 4,275 3.26%

2018 Avg Household Income $59,568 $58,912 $69,947

2018 Med Household Income $47,793 $45,433 $53,779

The O’Shea Net Lease Advisory

10CVS | St. Paul, MN

Demographics

Saint Paul, the state capital of Minnesota, forms the "Twin Cities" with neighboring Minneapolis. It’s home to the Science Museum of Minnesota, with its dinosaur specimens and immersive theater. The Minnesota History Center has interactive exhibits about the region's history. Nearby is the beaux arts Cathedral of Saint Paul. The Cass Gilbert–designed Minnesota State Capitol features paintings of Civil War scenes.

As of the census of 2010, there were 285,068 people, 111,001 households, and 59,689 families residing in the city. The racial makeup of the city was 60.1% white, 15.7% African American, 1.1% Native American, 15.0% Asian, 0.1% Pacific Islander, 3.9% from other races, and 4.2% from two or more races. Hispanic or Latino people of any race were 9.6% of the population.

Major corporations headquartered in Saint Paul include Ecolab, a chemical and cleaning product company which was named in 2008 by the Minneapolis / St. Paul Business Journal as the eighth best place to work in the Twin Cites for companies with 1,000 full-time Minnesota employees and Securian Financial Group Inc.

The O’Shea Net Lease Advisory

CVS | St. Paul, MN

City Overview

11

CVS | St. Paul, MNOffering Memorandum | 810 Maryland Ave E St. Paul, MN 55106

Sean O’Shea Managing Principal(310) 433-8851sean@nnnadvisory.com

CA LIC #01438647 Stephen DombrovskiSuntide Commercial Realty, IncMN Broker of Record