CVS Pharmacy (GL)

1193 Admiral Callaghan Lane, Vallejo, CA 94591

$5,418,888

Cap Rate 3.88%

Views: 90 DOM: 225 Updated: 10.14.24 Posted: 04.04.24 Status: Active

Summary

Price $5,418,888	Built/Renov 2015	Tenant CVS Pharmacy (GL)
Cap Rate 3.88%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 16,500	Lease Start 04-01-2015	#Units 9,395
Price/SF $328.42	Expiration 01-31-2041	Tenant Type Pharmacy
NOI $210,000	R. Term 16.2	Ownership Ground Lease
Rent/SF $12.73	Increases 7.5%/17/yrs	Pop 5Mi 158,923
Lot/AC 1.61	Options 8/5yrs/7.5%	AHHI 5Mi $80,739

Lease Highlights

CVS has 16+ years remaining on the current ground lease term with 8 (5-year) options to extend
The lease features 7.5% rental increases at the start of each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located at the signalized, hard corner intersection of Admiral Callaghan Ln and Columbus Pkwy, with access to a combined daily traffic count of 51,000 vehicles. The property is situated adjacent to Chick Fil A and Chipotle and in close proximity to well-known national tenants such as Costco, Home Depot, Toyota, Best Buy, Target, and Century Theaters. The 5-mile...

...

Key Features

High traffic 50M+ VPD
Dense retail corridor
Near major nationals
Freeway visibility
Top 100 MSA
Long 15+ yr lease
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Links

CVS Pharmacy Wikipedia CVS Pharmacy Wikipedia Vallejo, California Zip Code 94591 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: CVS Pharmacy
Guarantor:Corp T and Rated
Company:CVS Health Corporation
# Units:9,395
Tenant S&P: BBB
Moody’s: Baa2
Stock: NYSE: CVS

About Tenant

CVS Pharmacy, Inc. is an American retail corporation and is the largest pharmacy chain in the United States by number of locations and total prescription revenue. CVS sells prescription drugs...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	10,313	99,372	161,695
2023 Total Population :	10,310	99,606	162,076
2023 Employed Civilian Pop :	4,715	48,231	79,223
2023 Total Businesses :	250	2,146	3,624
2023 Average Household Income :	$ 134,301	$ 109,009	$ 115,240
2023 Total Consumer Spending :	$ 377 M	$ 3066 M	$ 5385 M
2023 Median Age :	39	39	39
2023 Total Households :	3,329	32,875	54,629
2023 Pop Age 25+: Bachelor's Degree :	2,336	14,519	25,152
2023 Average Home Value :	$ 622,167	$ 589,265	$ 601,683

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Admiral Callaghan Ln	Columbus Pkwy	2010	18,180	0.09 mi
Columbus Pkwy	Admiral Callaghan Ln	2010	26,490	0.13 mi
Columbus Pkwy	Admiral Callaghan Ln	2010	12,810	0.16 mi
Admiral Callaghan Ln	Plz Dr	2008	19,031	0.16 mi
Plaza Dr	Admiral Callaghan Ln	2008	11,996	0.19 mi
Admiral Callaghan Ln	Plz Dr	2016	10,303	0.24 mi
Plaza Dr	Turner Pkwy	2008	12,531	0.26 mi
Columbus Pkwy	N Ascot Pkwy	2010	13,450	0.31 mi
N Ascot Pkwy	Columbus Pkwy	2010	3,540	0.36 mi
Turner Pkwy	N Ascot Pkwy	2010	6,690	0.36 mi

Listing Broker

Dan Lem

LemRx Realty Advisors

Contact

9 Listings
1038 Views
0 Sold

Haley Nekota

LemRx Realty Advisors

Contact

9 Listings
1038 Views
0 Sold

Dan Lem

Since 1986 Dan and his team of seasoned advisors have helped clients develop, buy,sell, finance, or sell/leaseback over $1,000,000,000 (US$ one billion) in real estate including over 120 properties occupied by Walgreens, CVS, or Rite Aid. Dan's clients include institutional and high net worth investors including such celebrity clients as George and Gavin Maloof, owners of the Sacramento Kings and Preston Keogh, son of congressman Eugene Keogh of the "The Keogh Plan". Dan is a CPA and has worked

...

Haley Nekota

Haley began her real estate career after working in hotel sales for major chains including Noble House Hotels & Hilton for many years and then working as a residential agent serving all of Northern California. In 2019 she transitioned to commercial real estate and began working for LemRx Realty Advisors. She has quickly become an expert in investment purchase and sales of national credit single tenant net leased properties and has expanded into the STNL medical space to focus on the increas

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT