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Drug Store

CVS NNN Ground Lease - 18.8 Years Remaining

10 Shaw Ave, Clovis, CA 93612

Listing Price: $3,750,000

Cap Rate
4.00%
Tenant Name
CVS
Years Remaining On Lease
18.7
Gross SF
14,576
Guarantor
Corporate Guarantee
Rentable SF
14,576
Price/Gross SF
$257.27
Lease Type
NNN Ground Lease
Rent Per Square Feet
$10.29

Investment Overview

Marcus & Millichap is pleased to present for sale a CVS NNN Ground Lease located in Clovis, California. The subject is an approximate 14,576-square foot, single-tenant building built in 2016 on approximately 1.45 acres of land. The existing lease is a 25-year, with 18.8 +/- years remaining, NNN corporate ground lease with an extremely strong lease guaranteed by CVS. The lease contains eight, five-year renewal options with 7% rent escalations every five years.

Investment Highlights

  • 25 Year NNN CVS Ground Lease - 18.8 +/- Years Remaining
  • The Location was Part of a Relocation from a Highly Successful CVS Store (Old Location did not have a Drive-Thru and was an Inline Tenant).
  • Rent of $150,000 per Year is Low Versus other CVS stores, Leading to Higher Profit Margins for the Subject Store.

Exclusively Listed By

Drug Store

CVS NNN Ground Lease - 18.8 Years Remaining

Listing Price: $3,750,000

Cap Rate
4.00%
Tenant Name
CVS
Years Remaining On Lease
18.7
Gross SF
14,576
Guarantor
Corporate Guarantee
Rentable SF
14,576
Price/Gross SF
$257.27
Lease Type
NNN Ground Lease
Rent Per Square Feet
$10.29

Investment Highlights

  • 25 Year NNN CVS Ground Lease - 18.8 +/- Years Remaining
  • The Location was Part of a Relocation from a Highly Successful CVS Store (Old Location did not have a Drive-Thru and was an Inline Tenant).
  • Rent of $150,000 per Year is Low Versus other CVS stores, Leading to Higher Profit Margins for the Subject Store.

Investment Overview

Marcus & Millichap is pleased to present for sale a CVS NNN Ground Lease located in Clovis, California. The subject is an approximate 14,576-square foot, single-tenant building built in 2016 on approximately 1.45 acres of land. The existing lease is a 25-year, with 18.8 +/- years remaining, NNN corporate ground lease with an extremely strong lease guaranteed by CVS. The lease contains eight, five-year renewal options with 7% rent escalations every five years.

Exclusively Listed By

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