Historical Retail Sale Listing - New CVS | 25-Yr Absolute NNN Lease | So Cal

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New CVS | 25-Yr Absolute NNN Lease | So Cal

14426 Palmdale Road, Victorville, CA 92392

N/A

12,900 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
12,900 SF
Property Type:
Retail
Property Sub-type:
Retail Pad
Additional Sub-types:
Free Standing Bldg
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
6.50%
Occupancy:
100%
Tenancy:
Single
Year Built:
2010
Lot Size:
1.60 AC
Listing ID
16927071
Last Updated
over 1 year ago

Highlights

  • New 25-Year Absolute NNN Leased CVS Single Tenant Investment Opportunity
  • CVS Caremark Corporate Guaranteed Lease / Investment Grade Tenant - BBB+ S&P Rating
  • Located at the Intersection of Palmdale Road & El Evado Road - Signalized Intersection with 46,000 Cars Per Day
  • Located Within Close Proximity to the New California Logistic Airport, Logistics Centre, and Rail Complex - 60 Million SF of Distribution/Industrial
  • State-of-the-Art CVS Freestanding Proto-Type Store
  • Attractive Financing Options Available

Description

Faris Lee Investments has been selected as the exclusive broker to offer for sale the CVS Pharmacy at El Evado Plaza, an absolute net leased single tenant investment. The investment features a new 25 year absolute NNN lease (with 10 - 5 year options). The lease is guaranteed by CVS Caremark Corp. with over $35.8 Billion in Net Worth (Twice Walgreen' s Net Worth - $14.4 Billion). The City of Victorville is a growing commercial hub that benefits from its location along the 15 Freeway and continues to grow with contributions from the 60 million square foot Southern California Logistics Center among numerous other commercial developments. Strategically situated along the e-Corridor, with global access provided by the all-cargo Southern California Logistics Airport, Victorville has become one of the key links in the international supply chain with international daily cargo flights from Asia and a qualified and dedicated labor pool of 1 million workers.

Located at the strategic intersection of Palmdale Road and El Evado, the subject property benefits from a signalized intersection location on Palmdale Rd. (Hwy. 18), which is the main arterial connecting I-15 and Highway 395. The I-15 Freeway serves as the main arterial into Las Vegas from Southern California, while the 395 serves as a main North / South arterial through California, Nevada, Oregon, and Washington.

Furthermore, the subject property' s location enjoys a traffic count in excess of 46,000 cars daily. The traffic counts are expected to increase as the Palmdale Rd. corridor continues to develop as a result of its strategic location between Interstate Highway 395 and the I-15 Freeway. In addition, the 24,000 new jobs created by the new Southern California Logistics Airport (SCLA) are expected to increase demand for residential development, further increasing the depth of the trade area.

Map of 14426 Palmdale Road, Victorville, CA 92392 (San Bernardino County)

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