CVS/Pharmacy 84010 Avenue 50 12,900 SF Retail Building Coachella, CA 92236 $7,042,450 CAD ($545.93 CAD/SF) 11.65% Cap Rate

Marcus & Millichap is pleased to present the exclusive offering of CVS Coachella, a high-yield, single-tenant net leased investment located at 84010 Avenue 50, Coachella, California. The Property is leased to CVS Pharmacy, Inc. under an absolute NNN lease with a corporate guarantee, offering investors truly passive ownership with zero landlord responsibilities.
The asset consists of a 12,900-square-foot freestanding pharmacy building situated on a 1.54-acre signalized corner parcel at the intersection of Avenue 50 and Van Buren Street. Built in 2008, the Property occupies a highly visible hard-corner location with strong frontage, convenient access, and excellent long-term underlying land value.
The offering provides approximately $582,712 in annual net operating income, representing an attractive 11.65% cap rate on the asking price of $5,000,000. With approximately 8 years of remaining base lease term through July 2034, the investment delivers strong in-place cash flow backed by the credit quality of a nationally recognized pharmacy tenant.
A key differentiator of this opportunity is the built-in pricing discount associated with the lease’s final three-year rent holiday period, which has been reflected in the offering price and creates a compelling effective basis relative to the in-place income stream and underlying real estate fundamentals.
This is an exceptional opportunity for investors seeking high current yield, passive management, and durable residual land value through ownership of a mission-critical retail asset leased to an institutional-grade tenant.