CVS Pharmacy (LH)

4028 Lone Tree Way, Antioch, CA 94531

$3,243,000

Cap Rate 7.75%

Views: 94 DOM: 214 Updated: 05.20.24 Posted: 02.15.24 Status: Active

Summary

Price $3,243,000	Built/Renov 2010	Tenant CVS Pharmacy (LH)
Cap Rate 7.75%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 13,013	Lease Start 12-31-2024	#Units 9,395
Price/SF $249.21	Expiration 12-31-2037	Tenant Type Pharmacy
NOI $251,339	R. Term 13.3	Ownership Leasehold
Rent/SF $19.31	Increases 0.0%/0/yrs	Pop 5Mi 180,455
Lot/AC 2.02	Options 1/4yrs	AHHI 5Mi $125,827

Lease Highlights

CVS has 13+ years remaining on the current lease term with 1 (4-year) and 1 (4-year, 11 months) options to extend
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

CVS is strategically located near the signalized, hard corner intersection of Lone Tree Way and Golf Course Road, with access to a daily traffic count of 46,700 vehicles. The property is situated within a dense retail corridor, within close proximity to national and credit tenants, including Safeway, Raley’s, Dollar Tree, DaVita, and more. Additionally, the vicinity includes John Muir...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Absolute NNN
Long 10+ yr lease
Traded and rated company
Investment grade tenant

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Links

CVS Pharmacy Wikipedia CVS Pharmacy Wikipedia Antioch, California Zip Code 94531 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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	15,834	110,812	183,925
2023 Total Population :	15,704	109,738	180,455
2023 Employed Civilian Pop :	7,336	50,938	85,641
2023 Total Businesses :	293	2,295	3,792
2023 Average Household Income :	$ 128,663	$ 117,365	$ 125,827
2023 Total Consumer Spending :	$ 539 M	$ 3403 M	$ 6002 M
2023 Median Age :	41	36	36
2023 Total Households :	4,947	33,819	55,604
2023 Pop Age 25+: Bachelor's Degree :	1,828	13,054	22,861
2023 Average Home Value :	$ 686,542	$ 641,698	$ 654,186

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Lone Tree Way	Ridgerock Dr	2012	28,140	0.07 mi
Ridge Rock Dr	Lone Tree Way	2012	3,240	0.11 mi
Ridgerock Dr	Ridge Rock Dr	2006	3,090	0.11 mi
James Donlon Boulevard		2012	19,870	0.11 mi
Lone Tree Way	Ridgerock Dr	2006	46,747	0.12 mi
Lone Tree Way	Clayburn Rd	2012	19,070	0.19 mi
James Donlon Blvd	S Royal Links Cir	2006	22,539	0.19 mi
Lone Tree Way	Ridgerock Dr	2004	42,100	0.27 mi
Lone Tree Way	Davison Dr	2006	44,266	0.37 mi
Davison Dr	Garrow Dr	2014	8,136	0.60 mi

Listing Broker

Frank Rogers

SRS National Net Lease Group

Contact

34 Listings
3350 Views
3 Sold

Michael Carter

SRS National Net Lease Group

Contact

33 Listings
3252 Views
3 Sold

Frank Rogers

Frank Rogers joined the National Net Lease Group as first vice president in the Detroit office in 2018. He specializes in the acquisition and disposition of single-tenant and multi-tenant net-leased investment properties. Frank joined SRS with more than five years of retail investment sales experience. At his previous firm, Frank was responsible for the management of his clients’ real estate portfolios across the nation, for which he advised them on the best course of action for their invest

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Michael Carter

Michael Carter joined the National Net Lease Group as first vice president in the Detroit office in 2018. He specializes in the acquisition and disposition of single-tenant and multi-tenant net-leased investment properties. Michael joined SRS with seven years of retail investment sales experience. Prior to joining SRS, he served as senior director with his previous firm. Michael’s deep understanding of the net lease industry and constantly growing market knowledge has earned him several oppo

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