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Drug Store

CVS

2000 Driscoll Rd, Fremont, CA 94539

Listing Price: $7,593,200

Cap Rate
4.75%
Tenant Name
CVS
Years Remaining On Lease
3.5
Gross SF
16,224
Guarantor
Corporate Guarantee
Rentable SF
16,224
Price/Gross SF
$468.02
Lease Type
Double Net
Rent Per Square Feet
$22.23

Investment Overview

Located in the affluent Mission Jose area of Fremont, California, this CVS offering is a retail condominium situated within Mission Ranch Center. CVS recently exercised its second five year option, showing commitment to this location. There remains one five-year option and one four-year option with each option providing a rare seven percent rent increase. CVS is located slightly over 1/2 mile from Irvington BART Station Project. Final designs for the station are planned for completion by July 2022. If the project remains on schedule, BART will break ground on the station in August 2022, with service expected to begin by August 2026.

Investment Highlights

  • Rarely Available Core Bay Area STNL Credit Asset
  • Limited Competition-Nearest Walgreens is 1.75 Miles
  • Commitment to This Location, CVS Exercised its Second Option to Extend the Lease Term
  • Less Than 1/2 Mile to California's Top School - Mission San Jose High School, Ranked Number Eight Among California High Schools
  • Rare Seven Percent Rent Increase at Each Option Extension
  • Highly Affluent Location with Average Household Income of $206,600 in One Mile
  • Located in a Densely Populated Residential Area with Over 227,000 Population within Five Miles
  • Close to the Irvington BART Station Project

Exclusively Listed By

Listing Price: $7,593,200

Cap Rate
4.75%
Tenant Name
CVS
Years Remaining On Lease
3.5
Gross SF
16,224
Guarantor
Corporate Guarantee
Rentable SF
16,224
Price/Gross SF
$468.02
Lease Type
Double Net
Rent Per Square Feet
$22.23

Investment Highlights

  • Rarely Available Core Bay Area STNL Credit Asset
  • Limited Competition-Nearest Walgreens is 1.75 Miles
  • Commitment to This Location, CVS Exercised its Second Option to Extend the Lease Term
  • Less Than 1/2 Mile to California's Top School - Mission San Jose High School, Ranked Number Eight Among California High Schools
  • Rare Seven Percent Rent Increase at Each Option Extension
  • Highly Affluent Location with Average Household Income of $206,600 in One Mile
  • Located in a Densely Populated Residential Area with Over 227,000 Population within Five Miles
  • Close to the Irvington BART Station Project

Investment Overview

Located in the affluent Mission Jose area of Fremont, California, this CVS offering is a retail condominium situated within Mission Ranch Center. CVS recently exercised its second five year option, showing commitment to this location. There remains one five-year option and one four-year option with each option providing a rare seven percent rent increase. CVS is located slightly over 1/2 mile from Irvington BART Station Project. Final designs for the station are planned for completion by July 2022. If the project remains on schedule, BART will break ground on the station in August 2022, with service expected to begin by August 2026.

Exclusively Listed By

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