CVS Pharmacy - Net Lease Property for Sale
Elk Grove, CA
Key Investment Metrics
Price
$7,514,000
Cap Rate
5.3%
Net Operating Income
$394,500
Building Size
31324 SF
Lot Size
31,324 SF
Land Area
3.02 Acres
Remaining Term
12.5 years
Lease Expiration
01/31/2039
Lease Term
40.5 years
Lease Commencement
08/24/1998
Lease Type
Absolute NNN
Tenant Credit
Credit Rated, Corporate Guarantee
Year Built
1990
Occupancy
100%
Tenancy
Single
Rent Increases
10% Bump in 1st Option; 5% in 2nd
About This CVS Pharmacy Net Lease Property
This CVS Pharmacy NNN (triple net lease) property is located in Elk Grove, CA and represents an excellent investment opportunity for commercial real estate investors. The property features 31324 square feet of building space and was built in 1990.
With a cap rate of 5.3%, this CVS Pharmacy net lease property offers stable income potential. The asking price is $7,514,000, making it an attractive option for 1031 exchange investors seeking quality CVS Pharmacy commercial properties.
Why Invest in CVS Pharmacy NNN Properties?
- Stable Income: CVS Pharmacy net lease properties provide predictable cash flow with minimal landlord responsibilities.
- Strong Tenant: CVS Pharmacy is a nationally recognized brand with proven operational success.
- 1031 Exchange Eligible: This property qualifies for 1031 tax-deferred exchanges, allowing investors to defer capital gains taxes.
- Triple Net Lease: The tenant is responsible for property taxes, insurance, and maintenance, reducing landlord obligations.
Elk Grove, CA Market Overview
Located in Elk Grove, CA, this CVS Pharmacy property benefits from strong local demographics and market fundamentals. The Elk Grove area offers excellent visibility and accessibility, making it an ideal location for CVS Pharmacy operations and a solid investment for net lease property buyers.