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Views: 128 DOM: 436 Updated: 11.05.24 Posted: 09.06.23 Status: Active

Summary

Price $6,243,000
Built/Renov 2005
Tenant CVS Pharmacy
Cap Rate 5.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,662
Lease Start 12-01-2006
#Units 9,395
Price/SF $425.79
Expiration 01-01-2032
Tenant Type Pharmacy
NOI $352,718
R. Term 7.1
Ownership Fee Simple
Rent/SF $24.06
Increases 0.0%/3/yrs
Pop 5Mi 319,139
Lot/AC 1.53
Options 10/5yrs
AHHI 5Mi $93,812

Lease Highlights

  • CVS has 7+ years remaining on their current lease with 10 (5-year) options to extend
  • Lease features scheduled rental increases at the beginning of each option period - contact agent for additional details
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed | Investment grade tenant

Location Description

CVS is strategically positioned at the signalized intersection of Bass Lake Rd. and Brooklyn Blvd., averaging a combined traffic count of 49,200 vehicles passing by daily. The subject property benefits from direct access onto Interstate 94 (134,000 VPD) and State Highway 100 (81,000 VPD), making this an ideal and centralized location with easy commutes. This location is also within walking...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 14,493 125,981 318,877
2023 Total Population : 13,346 124,350 315,728
2023 Employed Civilian Pop : 6,726 66,434 168,105
2023 Total Businesses : 441 2,688 8,082
2023 Average Household Income : $ 83,021 $ 85,531 $ 94,097
2023 Total Consumer Spending : $ 317 M $ 3389 M $ 9623 M
2023 Median Age : 36 36 37
2023 Total Households : 4,447 45,691 118,165
2023 Pop Age 25+: Bachelor's Degree : 1,416 17,203 51,641
2023 Average Home Value : $ 310,610 $ 329,446 $ 341,669
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
58th Ave N Northport Dr 2017 10,700 0.05 mi
58th Ave N Drew Ave N 2011 10,100 0.09 mi
Co Rd 10 Northway Blvd 2017 9,200 0.13 mi
Xerxes Ave Brooklyn Blvd 2019 8,800 0.27 mi
Xerxes Ave N 56th Ave N 2015 8,200 0.30 mi
Xerxes Ave N 59th Ave N 2015 4,900 0.31 mi
Co Rd 10 Northway Dr 2011 16,100 0.35 mi
Halifax Ave N France Pl 2015 1,600 0.36 mi
Brooklyn Blvd 55th Ave N 2011 23,700 0.38 mi
Xerxes Ave 60th Ave N 2019 4,900 0.40 mi

Listing Broker

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