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31644144
31644145

42150 Jackson Street, Indio, CA 92203

RD
CA 01438643
Marcus & Millichap - Orange County
Listed by Marcus & Millichap - Orange County
$3,725,000
67 days on market
Updated 12 days ago

CVS

Details
APN 692050013
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 12,900
Net Rentable (SqFt) 12,900
Units 1
Cap Rate 5.77%
NOI $214,988
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Term 25.5
Lease Expiration 01/31/2034
Remaining Term 7.6
Rent Bumps Yes
Lease Options Six, Five-Year @ 5%
Year Built 2008
Stories 1
Lot Size (SqFt) 68,824
Investment Type Net Lease
Lease Commencement 08/17/2008
Ground Lease Yes

Absolute NNN Ground Lease | Near I-10 Freeway

Investment highlights

Rare Corporate-Backed Absolute NNN Ground Lease with CVS Health, Offering Zero Landlord Responsibilities

High Visibility, Signalized, Corner Location at the Intersection of Jackson Street and 42nd Avenue (±25,000 Cars Per Day) | Less Than ½ Mile from Interstate 10 Freeway (±115,000 Cars Per Day)

Situated Near the Indio Towne Center, a ±560,000 SF Major Regional Retail Hub Anchored by Home Depot, WinCo Foods, ULTA Beauty, Petco, and Many More

Corporate-Guaranteed Ground Lease

  • Over 8 Years Remaining on the Primary Lease Term Through January 2034, Plus Six, Five-Year Renewal Options Extending Potential Occupancy Through 2064

  • CVS Pharmacy is One of the Largest Healthcare Companies with Over $402 Billion in Annual Revenue, Approximately 9,000 Retail Locations, and a Fortune #6 Ranking

  • Established Location with 17+ Year Operating History – CVS Has Operated at This Location Since 2008, Demonstrating Strong Site Commitment

Strong Market Fundamentals

  • Affluent, Dense Infill Trade Area with Average Household Incomes Exceeding ±$128,000 Within One Mile and a Population of Over 138,900 Residents Within Five Miles

  • Located Less than Five Miles from the Coachella and Stagecoach Festival Grounds, Which Draw Approximately 325,000+ Attendees Annually Across Three Festival Weekends Alone

  • Indio Is the Most Populous City in the Coachella Valley, and is Centrally Located Within Coachella’s Nine-City Region of Over 500,000 Residents, Benefiting from Year-Round Tourism, Major Festivals (Coachella, Stagecoach), and a Growing Permanent Resident Base

Listing Contacts

RD
CA 01438643
Marcus & Millichap - Orange County
Listed by Marcus & Millichap - Orange County

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$214,988.00
$17,915.67/mo

Valuation Metrics

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DSCR
5.77%
Cap Rate
5.77%
ROI

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