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Views: 82 DOM: 225 Updated: 10.14.24 Posted: 04.04.24 Status: Active

Summary

Price $17,500,000
Built/Renov 1930/2018
Tenant CVS Pharmacy
Cap Rate 3.85%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 17,920
Lease Start 10-05-2014
#Units 9,395
Price/SF $976.56
Expiration 01-31-2030
Tenant Type Pharmacy
NOI $673,167
R. Term 5.2
Ownership Fee Simple
Rent/SF $37.57
Increases 15.0%/6/yrs
Pop 5Mi 912,616
Lot/AC 0.47
Options 5/5yrs/15%
AHHI 5Mi $120,533

Lease Highlights

  • CVS Pharmacy has 5+ years remaining on the current lease term with 5 (5-year) options to extend
  • The lease features 15% rental increases throughout the initial term and option periods
  • 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 19th Avenue (Hwy 1) and Ortego Street, with access to a combined daily traffic count of 80,000 vehicles. Situated next to a Chevron dealership and near residential neighborhoods, the property has a prime location. Additionally, essential medical facilities such as UCSF Medical Center, Laguna Honda Hospital,...

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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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 59,151 400,699 918,820
2023 Total Population : 59,663 401,010 912,931
2023 Employed Civilian Pop : 34,562 254,007 570,390
2023 Total Businesses : 2,040 13,027 47,902
2023 Average Household Income : $ 198,521 $ 208,132 $ 188,098
2023 Total Consumer Spending : $ 3779 M $ 28503 M $ 60078 M
2023 Median Age : 43 42 41
2023 Total Households : 22,823 163,705 379,211
2023 Pop Age 25+: Bachelor's Degree : 19,203 130,039 268,564
2023 Average Home Value : $ 1,530,918 $ 1,531,358 $ 1,419,585
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
17th Ave Ortega St 2015 2,932 0.10 mi
19th Ave Pacheco St 2012 66,000 0.14 mi
16th Ave Noriega St 2015 1,748 0.18 mi
17th Ave Noriega St 2015 2,780 0.23 mi
19th Ave Moraga St 2017 74,600 0.23 mi
Quintara Street 19th Ave 2022 57,000 0.24 mi
14th Ave Mount Ln 2015 794 0.30 mi
1 2018 74,600 0.31 mi
1 Rivera St 2018 74,600 0.31 mi
14th Ave Noriega St 2015 904 0.33 mi

Listing Broker

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