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CVS | Strong Intrinsic Value | Cheap Rent 5040 Laguna Blvd 31,324 SF Retail Building Elk Grove, CA 95758 $10,531,698 CAD ($336.22 CAD/SF) 5.25% Cap Rate

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Investment Highlights

Well-Below-Market Rent ($12.59 PSF) | Intrinsic-Value Real Estate
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Dense, Established Retail Corridor

12.5 Years Remaining | Investment-Grade Corporate Guaranty (NYSE: CVS) | Rare 10% Increase In First Option, Future Upside with FMV Rent
Irreplaceable Signalized, Hard Corner Intersection (120,595 VPD) | Bel Air Anchored Center, High-End 66,397 SF Grocery Store
Strong Demographics and Daytime Population in 5-Mile Trade Area

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, CVS investment property located in Elk Grove, California. The tenant, Longs Drug Stores California, LLC (dba CVS) has approximately 12.5 years remaining on their lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increases in the 1st option, 5% In the 2nd option and 3 (5-Year FMV), steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

31,324 SF

Building Class

Year Built

1990

Price

$10,531,698 CAD

Price Per SF

$336.22 CAD

Cap Rate

5.25%

NOI

$552,935 CAD

Tenancy

Single

Building Height

1 Story

Loading Docks

1 Exterior

Building FAR

0.24

Lot Size

3.02 AC

Zoning

GC - General Commercial

Parking

134 Spaces (4.28 Spaces per 1,000 SF Leased)

Frontage

242’ on Laguna

Bus Line

Dedicated Turn Lane

Pylon Sign

Signage

Retailer
99,999 SF
$9.99
Lorem Ipsum
Jan 0000

CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, and the CVS name followed the next year. Pharmacies were added to CVS stores in Cranston, Rhode Island, and the business later became part of CVS Health, which expanded the enterprise into retail pharmacy, prescription benefits, and related health services. CVS Pharmacy operates as a retail pharmacy chain with neighborhood, mail-order, and specialty pharmacy services, plus prescription delivery and savings support. The company sells over-the-counter medicines, beauty products, seasonal merchandise, and convenience foods, and offers in-store and virtual care through MinuteClinic and related services.