Language and Region
Currency

Email*

Please enter a valid email address.

To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Message

918 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

CVS | Strong Intrinsic Value | Cheap Rent 5040 Laguna Blvd 31,324 SF Retail Building Elk Grove, CA 95758 $10,593,538 CAD ($338.19 CAD/SF) 5.25% Cap Rate

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

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

$10,593,538 CAD

Price Per SF

$338.19 CAD

Cap Rate

5.25%

NOI

$556,182 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, selling health products. The company expanded into pharmacy services in 1967 and was later acquired by Melville Corporation. Through strategic acquisitions like MinuteClinic and Caremark, CVS grew its healthcare services. The 2018 merger with Aetna made CVS Health a major player in insurance. Today, the company operates pharmacies nationwide, manages pharmacy benefits, and provides health insurance through various subsidiaries.