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Views: 34 DOM: 58 Updated: 09.16.24 Posted: 08.13.24 Status: Active

Summary

Price $3,996,000
Built/Renov 1999
Tenant CVS Pharmacy
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 15,600
Lease Start 12-01-2006
#Units 9,395
Price/SF $256.15
Expiration 01-31-2032
Tenant Type Pharmacy
NOI $279,727
R. Term 7.3
Ownership Fee Simple
Rent/SF $17.93
Increases 0.0%/0/yrs
Pop 5Mi 270,547
Lot/AC 1.40
Options 10/5yrs
AHHI 5Mi $62,642

Lease Highlights

  • CVS Pharmacy has been operating in this location since 2006
  • The tenant has 7+ years remaining on the current lease term with 10 (5-year) options to extend
  • The lease features fluctuating rental escalations at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located at the signalized, hard-corner intersection of North Hollywood Boulevard and East Lake Mead Boulevard, with access to a combined daily traffic count of 43,700 vehicles. The property benefits from its close proximity to State Highway 612, which sees 56,100 VPD, and is positioned as an outparcel at Sunrise Plaza, a neighborhood center anchored by an...

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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 and...


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Listing Broker

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