CVS
Retail | 6.00% CAP | 13,055 SqFt
Marketing description
SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, CVS Pharmacy investment property located in Phoenix, Arizona. CVS recently extended their lease for 10 years and has 3 (5-year) options to extend remaining, demonstrating their long-term commitment to the site. The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and providing a hedge against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor. The store operates daily from 7:00 AM to 11:00 PM, with the pharmacy open from 8:00 AM to 8:00 PM, demonstrating strong daily consumer demand at the site. The property supports nearly 385,000 customers per year and ranks in the top 82nd percentile of all CVS locations nationwide.
Investment highlights
Investment Grade Tenant (S&P: BBB) | Pending 10-Year Extension 20 Years of Operating History | Corporate Guaranty
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Strong Demographics in 5-Mile Trade Area
Signalized, Hard Corner Intersection | Freeway Access | Drive-Thru
Dense Retail Corridor | Surrounded by National Tenants | Established North Phoenix Node
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