Hard Money Loan on CVS Retail Building in Michigan
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This offering is secured by a freestanding, single-tenant retail property leased to CVS Pharmacy, a Fortune 500 company with an investment-grade credit rating. CVS has operated at this location for over 25 years, most recently renewing its lease in 2017. The current lease term runs through August 1, 2029, offering nearly five years of remaining predictable income. The lease is NNN, and rental income fully covers the debt service, supporting a strong Debt Service Coverage Ratio (DSCR).
The loan is structured at a conservative 75% loan-to-value (LTV) based on the purchase price, offering investors a low-risk position backed by long-term tenancy and creditworthy income.
Hard Money Loan on CVS Retail Building in Michigan Details
Structure
- Tax Document
- 1099-INT
- Offering Structure
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BPDNx
SENIOR BPDN - PROMISSORY NOTE SECURED BY COLLATERAL SECURITY AGREEMENTTHIS PROMISSORY NOTE IS SECURED BY THE ISSUER'S PLEDGE OF THE RELEVANT UNDERLYING COLLATERAL LOAN (AS DEFINED BELOW) TO THE LENDER (AS DEFINED BELOW) UNDER THE COLLATERAL SECURITY AGREEMENT AND PROMISSORY NOTE. HOWEVER, EXCEPT TO THE LIMITED EXTENT PROVIDED IN THE PROMISSORY NOTE WITH RESPECT TO THE UNDERLYING COLLATERAL LOAN, THIS NOTE IS NON-RECOURSE TO THE ASSETS, FUNDS AND ACCOUNTS OF YIELDI, LLC (THE "BORROWER", "COMPANY" OR "ISSUER") OR ANY OF ITS AFFILIATES, EMPLOYEES, AGENTS, STOCKHOLDERS, PARENTS, OR SUBSIDIARIES EXCEPT TO THE EXTENT OF THE VALUE OF COLLATERAL LOAN NET PAYMENTS ACTUALLY RECEIVED IN RESPECT OF THE UNDERLYING BORROWER LOAN.
Example Return on Investment
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Investment Amount:
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Annual ROI:
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Why We Like This Opportunity
Hard Money Loan on CVS Retail Building in Michigan Highlights
This offering is secured by a freestanding, single-tenant retail property leased to CVS Pharmacy, a Fortune 500 company with an investment-grade credit rating. CVS has operated at this location for over 25 years, most recently renewing its lease in 2017. The current lease term runs through August 1, 2029, offering nearly five years of remaining predictable income. The lease is NNN, and rental income fully covers the debt service, supporting a strong Debt Service Coverage Ratio (DSCR).
The loan is structured at a conservative 75% loan-to-value (LTV) based on the purchase price, offering investors a low-risk position backed by long-term tenancy and creditworthy income.
About the Neighborhood
The property is located in a dense retail corridor on Detroit’s northwest side, surrounded by national retailers, service businesses, and medical offices. This high-traffic, convenience-driven location is ideal for a tenant like CVS and benefits from strong visibility and consistent consumer demand.
The submarket remains resilient for single-tenant retail, with cap rates for NNN properties leased to national credit tenants typically ranging from 6.00% to 7.25%, supporting strong valuations and long-term investor interest.
Why We Like this Opportunity
This deal checks every box: a national credit tenant with over two decades of occupancy, a NNN lease structure that covers all expenses, and a conservative 75% LTV. With nearly five years of lease term remaining and a borrower planning a conventional refinance, this bridge loan presents a clear, low-risk exit strategy.
Yieldi’s position is further strengthened by the stability of the tenant’s business model and recent federal funding increases to Medicare Advantage programs, which are expected to bolster CVS’s long-term revenue outlook. For investors seeking predictable income backed by a strong operator, this opportunity offers compelling fundamentals.
Personal Guarantee
The Loans are personally guaranteed by the borrower, spouse, and all principals in the LLC. Additionally, the Sponsor and/or Guarantor are obligated to contribute monthly payments to maintain a tax and insurance reserve. Failure to adhere to reserve contribution requirements would lead to the triggering of a debt service and operating expense/shortfall guarantee.Investment Summary Of Hard Money Loan on CVS Retail Building in Michigan
Investors have an opportunity to invest in borrower payment dependent notes, the cash flow of which is dependent on the payment of interest and principal repayment on the Loans. Investors are scheduled to receive an annualized monthly interest payment of Login for details over the Loans' estimated remaining term of 12 Months. Principal is expected to be returned on or before maturity through a refinancing with a traditional bank loan. It is important to note that the Loans are eligible for prepayment, and principal may be repaid prior to the 12 Months estimated remaining term. If the Loans are paid off before maturity, investors are expected to receive at least three months of interest payments in addition to return of principal.
How Do I Get Paid?
This loan had an initial term of 12 Months with an option at Yieldi's discretion to extend. As of April 22, 2025 there are 12 Months remaining. Investors will immediately receive monthly interest payments at an annualized rate of Login for details on the principal balance over the life of the loan. If you invest in this loan in the middle of a month, you will receive a prorated interest payment for your investment for your first investment month and then full monthly payments thereafter. All payments are made automatically via ACH on the 1st of each month and investors all paid by the 10th of the month.
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