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Views: 114 Updated: 03.26.24 Posted: 10.13.23 Status: Inactive

Summary

Price $3,986,000
Built/Renov 1979
Tenant CVS
Cap Rate 5.20%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 25,500
Lease Start 11-10-1979
#Units 9,900
Price/SF $156.31
Expiration 11-09-2029
Tenant Type Pharmacy
NOI $207,241
R. Term 4.12
Ownership Fee Simple
Rent/SF $8.13
Increases 0.0%/0/yrs
Pop 5Mi 167,160
Lot/AC 1.66
Options 1/10yrs/8.3%
AHHI 5Mi $80,594

Lease Highlights

  • CVS has been operating in this location since 1979
  • Top 4% performing CVS Pharmacy Nationwide
  • Tenant currently has 6 years remaining on the current lease term with 1 (10-year) option to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by CVS Corporation (NYSE: CVS)
  • CVS is an investment grade tenant (S&P: BBB)

Location Description

CVS is situated at the signalized, hard corner intersection of Avenue J and 20th Street, which has a daily traffic count of 60,000 vehicles. The subject property offers outstanding accessibility, being adjacent to Freeway 14. Additionally, it serves as a co-anchor to the Antelope Valley Plaza, a 127,000-square-foot shopping center that includes new Smart & Final Extra!, dd’s Discounts, AT&T...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CVS
  • Guarantor:Corp T and Rated
  • Company:CVS Corporation
  • # Units:9,900
  • Tenant S&P: BBB
  • Moody’s: Baa1
  • 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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 14,923 96,373 182,654
2023 Total Population : 15,095 97,250 183,152
2023 Employed Civilian Pop : 6,052 37,637 69,888
2023 Total Businesses : 827 3,705 5,092
2023 Average Household Income : $ 86,557 $ 87,018 $ 91,694
2023 Total Consumer Spending : $ 399 M $ 2472 M $ 4565 M
2023 Median Age : 36 33 33
2023 Total Households : 5,298 32,616 57,402
2023 Pop Age 25+: Bachelor's Degree : 1,431 9,167 16,661
2023 Average Home Value : $ 562,264 $ 475,547 $ 495,710
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
2007 10,400 0.08 mi
20th St W Holly St 2014 16,943 0.12 mi
14 2018 62,000 0.13 mi
West Avenue J 8 2021 48,250 0.16 mi
14 2018 45,000 0.16 mi
W Ave J8 2014 14,100 0.22 mi
14 2018 45,000 0.28 mi
14 20th St W 2018 51,000 0.28 mi
Antelope Valley Fwy W Ave J 8 2012 57,000 0.34 mi
Antelope Valley Fwy W Ave J 8 2013 57,000 0.35 mi

Listing Broker

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