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Views: 26 DOM: 35 Updated: 09.12.24 Posted: 08.12.24 Status: Active

Summary

Price $2,499,000
Built/Renov 1963
Tenant CVS Pharmacy
Cap Rate 6.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,125
Lease Start 05-01-1999
#Units 9,395
Price/SF $246.81
Expiration 01-31-2033
Tenant Type Pharmacy
NOI $150,000
R. Term 8.4
Ownership Fee Simple
Rent/SF $14.81
Increases 5.0%/8/yrs
Pop 5Mi 347,421
Lot/AC 0.00
Options 6/5yrs/5%
AHHI 5Mi $77,079

Lease Highlights

  • CVS Pharmacy has been operating in this location since 1999
  • The tenant has 8+ year remaining on the current lease term with 6 (5-year) options to extend
  • The lease features 5% rental escalations at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located on Puritas Avenue, with access to 12,509 vehicles passing by daily. The property is an outparcel within a Save A Lot grocery-anchored shopping center and is surrounded by well-known national tenants such as Pizza Hut, Save A Lot, AutoZone, Burger King, McDonald’s, Walgreens, and more. The 5-mile trade area supports a population of 347,421 residents with an...

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Maps

  • 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 and...


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Listing Broker

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