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1010 E Arrow Hwy 9,590 SF Retail Building Covina, CA 91724 $5,568,636 CAD ($580.67 CAD/SF) 6.25% Cap Rate
Investment Highlights
- Single Tenant Net Leased Polaris Pharmacy – 2+ Years Remaining – 4% Annual Increases
- Recession-Resistant Asset Class – Healthcare and pharmacy-related real estate
- Healthcare operator with more than 20 pharmacy locations nationwide
Executive Summary
The asset features over two years of remaining lease term along with attractive 4% annual rental increases, offering investors stable in-place cash flow with built-in growth.
Polaris Pharmacy Services is a rapidly expanding healthcare operator with more than 20 locations nationwide, serving long-term care, specialty pharmacy, and post-acute healthcare markets. The tenancy provides exposure to a fundamentally strong and recession-resistant asset class supported by long-term demand drivers tied to aging demographics and ongoing healthcare needs.
The property consists of a freestanding 9,590-square-foot building situated on approximately 0.88 acres, with 45 surface parking spaces providing ample capacity for employees and operations. The site is zoned C-4 General Commercial, a highly versatile and desirable designation that allows for a broad range of retail and commercial uses, enhancing long-term flexibility and residual value
Polaris Pharmacy Services is a rapidly expanding healthcare operator with more than 20 locations nationwide, serving long-term care, specialty pharmacy, and post-acute healthcare markets. The tenancy provides exposure to a fundamentally strong and recession-resistant asset class supported by long-term demand drivers tied to aging demographics and ongoing healthcare needs.
The property consists of a freestanding 9,590-square-foot building situated on approximately 0.88 acres, with 45 surface parking spaces providing ample capacity for employees and operations. The site is zoned C-4 General Commercial, a highly versatile and desirable designation that allows for a broad range of retail and commercial uses, enhancing long-term flexibility and residual value
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
9,590 SF
Building Class
C
Year Built
1956
Price
$5,568,636 CAD
Price Per SF
$580.67 CAD
Cap Rate
6.25%
NOI
$348,040 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
0.88 AC
Zoning
LCC4* - The site is zoned C-4 General Commercial, a highly versatile and desirable designation that allows for a broad range of retail and commercial uses, e
Parking
75 Spaces (7.82 Spaces per 1,000 SF Leased)
Frontage
255’ on E Arrow Hwy
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Polaris Specialty Pharmacy
- Health Care and Social Assistance
- 9,590 SF
- -
- Triple Net
- Oct 2028
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Polaris Specialty Pharmacy | Health Care and Social Assistance | 9,590 SF | - | Triple Net | Oct 2028 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 8404-001-018 | Improvements Assessment | $1,108,537 CAD |
| Land Assessment | $1,933,875 CAD | Total Assessment | $3,042,413 CAD |
Property Taxes
Parcel Number
8404-001-018
Land Assessment
$1,933,875 CAD
Improvements Assessment
$1,108,537 CAD
Total Assessment
$3,042,413 CAD
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1010 E Arrow Hwy
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