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CVS | 11+yr Corp Abs NNN 14426 Palmdale Rd 12,900 SF Retail Building Victorville, CA 92392 $10,685,768 CAD ($828.35 CAD/SF) 6.75% Cap Rate

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INVESTMENT HIGHLIGHTS

11+ Years Lease Term Remaining | Renewal Options |Corporate Guaranty (NYSE: CVS | S&P: BBB)
Dense Retail Corridor | Top-Performing Store
Signalized, Hard Corner Intersection | Excellent Access & Visibility

Absolute NNN Lease Structure | No Landlord Responsibilities
Direct Residential Consumer Base | Strong Demographics
Inland Empire MSA | Established, Growing Sub Market

EXECUTIVE SUMMARY

SRS Real Estate Partners is pleased to present the opportunity to acquire the fee simple interest in a CVS Pharmacy located in Victorville, California. Backed by a corporate guaranty from CVS Caremark Corporation, a wholly owned subsidiary of CVS Health (NYSE: CVS | S&P: BBB), one of the largest and most financially secure retail pharmacy operators in the U.S. with over 9,000 locations nationwide and an investment-grade credit rating from S&P. The lease features more than 11 years of remaining term and ten (10) five-year renewal options, 8 of which feature FMV rent increases. Structured as an absolute NNN lease, the tenant is responsible for all expenses, making this a passive, low-management investment opportunity with stable long-term cash flow.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

12,900 SF

Building Class

Year Built

2010

Price

$10,685,768 CAD

Price Per SF

$828.35 CAD

Cap Rate

6.75%

NOI

$721,289 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.18

Lot Size

1.61 AC

Opportunity Zone

Yes

Zoning

C-2 - General Commercial

Parking

74 Spaces (5.74 Spaces per 1,000 SF Leased)

Frontage

275’ on Palmdale Rd

Corner Lot

Freeway Visibility

Signage

Signalized Intersection

Retailer
99,999 SF
$9.99
Lorem Ipsum
Jan 0000

CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.