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Views: 134 DOM: 280 Updated: 05.20.24 Posted: 02.15.24 Status: Active

Summary

Price $3,278,000
Built/Renov 2009
Tenant CVS Pharmacy (LH)
Cap Rate 8.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,137
Lease Start 12-31-2009
#Units 9,395
Price/SF $249.52
Expiration 01-01-2033
Tenant Type Pharmacy
NOI $286,849
R. Term 8.1
Ownership Leasehold
Rent/SF $21.84
Increases 0.0%/0/yrs
Pop 5Mi 283,078
Lot/AC 1.68
Options 3/5yrs
AHHI 5Mi $73,346

Lease Highlights

  • CVS has 8+ years remaining on the current lease term with 1 (2-year) and 2 (5-year) options to extend
  • The lease features a FMV rental increase at the beginning of option 3
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

CVS is strategically located at the signalized, hard corner intersection of S. Peach Ave and E Kings Canyon Rd, with access to a combined daily traffic count of 45,000 vehicles. The property is located in a dense retail corridor with national/credit tenants including Walmart Supercenter, The Home Depot, Vons, Ross, Dollar Tree, Walgreens, and more. The 5-mile trade area is supported by a...

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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 : 18,842 142,207 288,017
2023 Total Population : 18,630 140,414 283,078
2023 Employed Civilian Pop : 6,970 53,232 108,865
2023 Total Businesses : 373 3,126 9,226
2023 Average Household Income : $ 70,047 $ 75,138 $ 73,346
2023 Total Consumer Spending : $ 365 M $ 2563 M $ 5404 M
2023 Median Age : 30 29 30
2023 Total Households : 5,930 39,026 84,401
2023 Pop Age 25+: Bachelor's Degree : 1,193 8,944 21,074
2023 Average Home Value : $ 386,294 $ 351,189 $ 353,495
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Peach Ave E Kings Canyon Rd 2013 20,444 0.05 mi
E Kings Canyon Rd S Peach Ave 2013 22,931 0.16 mi
E Lane Ave S Sylmar 2010 5,866 0.18 mi
E Lane Ave S Sylmar 2008 5,711 0.21 mi
S Peach Ave E Huntington Ave 2008 18,425 0.27 mi
S Peach Ave E Huntington Ave 2008 20,132 0.37 mi
S Peach Ave E Butler Ave 2002 8,727 0.40 mi
E Kings Canyon Rd S Adler Ave 2008 24,637 0.41 mi
E Butler Ave S Peach Ave 2002 8,220 0.43 mi
E Butler Ave S Peach Ave 2006 3,632 0.43 mi

Listing Broker

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