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Views: 100 Updated: 12.19.23 Posted: 09.13.23 Status: Inactive

Summary

Price $5,489,000
Built/Renov 2006
Tenant CVS (LH)
Cap Rate 7.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,013
Lease Start 01-01-2008
#Units 9,900
Price/SF $421.81
Expiration 01-01-2033
Tenant Type Pharmacy
NOI $411,686
R. Term 8.1
Ownership Leasehold
Rent/SF $31.64
Increases 0.0%/0/yrs
Pop 5Mi 569,810
Lot/AC 1.41
Options 1/4yrs
AHHI 5Mi $123,363

Lease Highlights

  • CVS has a 15+ year operating history at this location
  • Freestanding, 24-hour location equipped with a dual lane drive-thru
  • The tenant has 9+ years of firm term remaining with 1 (4-year) & 5 (5-year) options to extend
  • The current ground lease has approximately 39 years of total term remaining and is significantly below market rent at $78,000/Yr
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

CVS is strategically located at the signalized, hard corner intersection of East La Palma Ave and State College Blvd which supports over 57,000 vehicles per day. Furthermore, the site benefits from nearby direct on/off ramp access to State Highway 91 (336,000 VPD) and State Highway 57 (328,000 VPD), making this an ideal centralized location with easy commutes. Moreover, the site is adjacent to...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CVS
  • Guarantor:Corp T and Rated
  • Company:CVS Corporation
  • # Units:9,900
  • Tenant S&P: BBB
  • Moody’s: Baa1
  • 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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 34,394 221,507 572,931
2023 Total Population : 34,120 218,226 569,810
2023 Employed Civilian Pop : 16,139 109,808 289,054
2023 Total Businesses : 1,241 13,181 32,844
2023 Average Household Income : $ 104,599 $ 109,203 $ 123,363
2023 Total Consumer Spending : $ 787 M $ 6287 M $ 18762 M
2023 Median Age : 31 33 35
2023 Total Households : 8,748 66,910 178,202
2023 Pop Age 25+: Bachelor's Degree : 3,276 30,285 89,245
2023 Average Home Value : $ 756,462 $ 804,053 $ 869,349
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
East La Palma Avenue N Whittier St 2011 25,000 0.11 mi
S State College Blvd E Balsam Ave 2011 30,000 0.11 mi
South State College Boulevard E Morava Ave 2022 22,000 0.16 mi
la Palma Ave N Whittier St 2011 25,000 0.23 mi
S State College Blvd E Redwood Ave 2009 25,000 0.28 mi
S Placentia Ave S State College Blvd 2011 9,111 0.30 mi
South State College Boulevard N Curtis Ct 2022 23,000 0.32 mi
la Palma Ave N Baxter Pl 2009 21,000 0.36 mi
S State College Blvd Riverside Fwy 2011 30,406 0.36 mi
East La Palma Avenue N Baxter Pl 2018 21,000 0.46 mi

Listing Broker

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