Skip to main content

Drug Store

CVS Pharmacy

909 S Atlantic Blvd, Los Angeles, CA 90022

Listing Price: $14,180,000

Cap Rate
4.25%
Tenant Name
CVS
Years Remaining On Lease
15.5
Gross SF
22,576
Guarantor
Corporate Guarantee
Rentable SF
22,576
Price/Gross SF
$628.10
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$26.70

Investment Overview

Marcus & Millichap is proud to present a generational opportunity to acquire a trophy asset guaranteed by CVS Pharmacy in the heart of Los Angeles. 909 South Atlantic Boulevard presents investors with a chance to acquire a top tier credit rated CVS Pharmacy securing a long term lease of over 15+ years remaining. The property is as unique as it gets designated as historic monument formerly known as the Golden Gate Theater. The Golden Gate Theater is a California Churrigueresque-style movie palace built in 1927 and was listed on the National Register of Historic Places in 1982. After the 1987 Whittier Narrows Earthquake the building was completely retrofitted and converted in the CVS Pharmacy in 2012. As iconic as the building is the property itself boasts fantastic retail real estate fundamentals. Located on a signalized corner of two major Los Angeles thoroughfares of Whittier Boulevard and Atlantic Boulevard the site benefits from over 67,000 cars per day. On top of having major presence and visibility the building also has a fully functioning drive-thru which was essential for drug stores during the recent pandemic. Located in the heart of East Los Angeles the demographics surrounding the area are comprised of an impressive 767,000+ population in a five-mile radius with an average household income of over $75,000. The site is located just five miles of Downtown Los Angeles, Cal State Los Angeles and 10 minutes of the Citadel Outlets as well as three major freeways ( 5-Freeway, 710-Freeway and 10-Freeway). Retailers in the area include: Regency Cinemas, Ross, El Super, Bank of America, Chase Bank, Starbucks and many more.

Investment Highlights

  • Trophy Generational CVS Pharmacy – Dense Infill Los Angeles – Historic Golden Gate Theater Building
  • Prime High Traffic Location Atlantic Boulevard and Whitter Boulevard over 67,000 Cars Per Day
  • Long Term Lease – 15+ Years Remaining – Double Net, Landlord Responsible for Roof and Structure
  • Top Performing Store - Ranks among the Top One Percent of CVS stores across the U.S. and Top Three Percent in California
  • Corporate Guaranty (NYSE: CVS): CVS, Headquartered in Woonsocket, RI, with 9,900 Stores and Over 295,000 Employees Nationwide
  • Excellent Supporting Demographics with Over 767,000 People in a Five-Mile Radius with an Average Household Income of over $75,000

Exclusively Listed By

Financing By

Listing Price: $14,180,000

Cap Rate
4.25%
Tenant Name
CVS
Years Remaining On Lease
15.5
Gross SF
22,576
Guarantor
Corporate Guarantee
Rentable SF
22,576
Price/Gross SF
$628.10
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$26.70

Investment Highlights

  • Trophy Generational CVS Pharmacy – Dense Infill Los Angeles – Historic Golden Gate Theater Building
  • Prime High Traffic Location Atlantic Boulevard and Whitter Boulevard over 67,000 Cars Per Day
  • Long Term Lease – 15+ Years Remaining – Double Net, Landlord Responsible for Roof and Structure
  • Top Performing Store - Ranks among the Top One Percent of CVS stores across the U.S. and Top Three Percent in California
  • Corporate Guaranty (NYSE: CVS): CVS, Headquartered in Woonsocket, RI, with 9,900 Stores and Over 295,000 Employees Nationwide
  • Excellent Supporting Demographics with Over 767,000 People in a Five-Mile Radius with an Average Household Income of over $75,000

Investment Overview

Marcus & Millichap is proud to present a generational opportunity to acquire a trophy asset guaranteed by CVS Pharmacy in the heart of Los Angeles. 909 South Atlantic Boulevard presents investors with a chance to acquire a top tier credit rated CVS Pharmacy securing a long term lease of over 15+ years remaining. The property is as unique as it gets designated as historic monument formerly known as the Golden Gate Theater. The Golden Gate Theater is a California Churrigueresque-style movie palace built in 1927 and was listed on the National Register of Historic Places in 1982. After the 1987 Whittier Narrows Earthquake the building was completely retrofitted and converted in the CVS Pharmacy in 2012. As iconic as the building is the property itself boasts fantastic retail real estate fundamentals. Located on a signalized corner of two major Los Angeles thoroughfares of Whittier Boulevard and Atlantic Boulevard the site benefits from over 67,000 cars per day. On top of having major presence and visibility the building also has a fully functioning drive-thru which was essential for drug stores during the recent pandemic. Located in the heart of East Los Angeles the demographics surrounding the area are comprised of an impressive 767,000+ population in a five-mile radius with an average household income of over $75,000. The site is located just five miles of Downtown Los Angeles, Cal State Los Angeles and 10 minutes of the Citadel Outlets as well as three major freeways ( 5-Freeway, 710-Freeway and 10-Freeway). Retailers in the area include: Regency Cinemas, Ross, El Super, Bank of America, Chase Bank, Starbucks and many more.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower