Listed by Colliers - San Diego - Carlsbad, California
$3,201,000
CVS with 27+ Year Operating History
Details
Property Type Retail
Sub Type Storefront, Pharmacy/Drug
Square Footage 10,125
Cap Rate 6.5%
NOI $208,069
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type NNN
Lease Expiration 01/31/2038
Remaining Term 11.7
Rent Bumps Yes
Lease Options Five, 5-Year
Broker Co-Op Yes
Year Built 1998
Buildings 1
Acreage 1.370
Parking Spaces 54 spaces
Parking Per SqFt 5.33
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/01/1998
Occupancy Date 01/01/1998
Ground Lease No
Ownership Fee Simple
Hard Corner at Signalized Intersection with 48,100 VPD
Marketing description
- Over 12-Years Remaining on 20-Year Lease Extension - 27+ year operating history with established customer base
- Hard Corner at Signalized Intersection with 48,100 VPD - Large 1.37 acre parcel with multiple access points and excellent visibility
- Investment Grade Credit Rated Tenant (BBB) with $402 Billion in Revenue in 2025 - 7.8% increase compared to 2024
- CVS is the Largest Pharmacy Chain in the U.S. - Over 9,900 locations across 49 states, the District of Columbia and Puerto Rico
- Smaller Format Footprint with Drive-Thru Pharmacy - 10,125 SF build-to-suit with recently restriped and seal coated parking lot
- Brand New Roof Installed in 2026 - 20-year manufacturer's warranty
Investment highlights
126,320 Residents in Primary Trade Area - $90,197 average household income
Population Increased 19% Since 2000 - 127,621 total daytime population
2.5 Miles to Auburn University at Montgomery - 5,189 enrolled students and 576 employees
Minutes to 330-Acres Mixed-Use Development The Shoppes at Eastchase - With 1M SF of retail space, 4 hotels and class A office buildings
Montgomery is the Capital of Alabama and Home to Maxwell Air Force Base - With 25,000 living on the base and Gunner Annex and Air University with 20,000 students
Listing Contacts
Listed by Colliers - San Diego - Carlsbad, California
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$208,069.00
$17,339.08/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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