Listed by Lee & Associates San Diego - Carlsbad, NNN Investment Group
$1,435,000
CVS Pharmacy | Mobile MSA Small Price Point
Details
APN 2406230002012XXX
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 10,260
Units 4
Cap Rate 7.25%
NOI $104,000
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type Absolute NNN
Lease Term 31
Lease Expiration 12/11/2030
Remaining Term 4.5
Rent Bumps Yes
Lease Options (10) 5-Year Options
Price per SqFt $140
Year Built 1999
Buildings 1
Stories 1
Acreage 1.380
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 12/06/1999
Ground Lease No
Ownership Fee Simple
Sale Condition 1031 exchange
Abs-NNN | Low Price Point Pharmacy | Low Rent/SF
Marketing description
The property consists of a 10,260 square foot retail building situated on approximately 1.38 acres and is offered fee simple. Built in 1999, the asset is 100% leased to CVS Health Corporation, an investment grade tenant (S&P: BBB), operating under an absolute NNN lease structure that provides zero landlord responsibilities.
Investment highlights
- CVS Health Corp: Investment Grade Credit Tenant (S&P: BBB) – Largest Pharmacy in the U.S. – Revenues of $372.8 Billion – #5 on Fortune 500 – Strong Lease Guarantee
- Perfect 1031 Exchange Candidate – Absolute-NNN Lease – Zero Landlord Responsibilities – Low Rent ($10 PSF) & Price Point – Provides Passive Ownership for an Investor
- Long Operating History – Demonstrated Tenant Commitment – 5% Rent Increases in Options – Multiple 10-Year Lease Extensions
- Strategic Retail Corridor – Hard-Corner Signalized Intersection – Located Directly Across from Aldi
Listing Contacts
Listed by Lee & Associates San Diego - Carlsbad, NNN Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$104,000.00
$8,666.67/mo
Valuation Metrics
0
DSCR
7.25%
Cap Rate
7.25%
ROI
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