CVS 1195 Boblett St 17,340 SF Retail Building Blaine, WA 98230 $7,677,728 ($442.78/SF) 7% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant net leased CVS property located in Blaine, Washington. CVS assumed the lease for this location from Rite Aid in 2025. This is a strong performing location that boasts a low rent-to-sales ratio (inquire with broker for details). The lease is absolute triple net (NNN), with no landlord obligations. Over 7 years remain on the lease, and it includes six 5-year renewal options. CVS, an investment-grade tenant, holds a “BBB” Standard & Poor’s credit rating.
The 17,340 square-foot building benefits from its position at the corner of Boblett Street and State Highway 543 (10,000 VPD). The property is located just off Interstate 5, which experiences over 22,000 vehicles per day and is directly across from Blaine High School. Located less than one mile from the U.S./Canada border, the site draws from both local and cross-border traffic. The property benefits from limited competition, with the nearest national pharmacy located eight miles away. Surrounding national and regional retailers include IGA Market, Ace Hardware, McDonald’s, O’Reilly Auto Parts, Dollar Tree, Subway, TA Express, Burger King, and Taco Bell. The area is characterized by strong demographics, with an average household income of $119,350 and a population of over 16,900 within a five-mile radius.
CVS Health Corporation is a leading American healthcare company headquartered in Woonsocket, Rhode Island. Originally founded in 1963 as Consumer Value Stores, CVS has grown into a nationwide brand with more than 9,000 retail pharmacy locations across the United States. As one of the largest healthcare providers in the nation, CVS Health serves millions of patients daily through its network of retail stores, MinuteClinic walk-in clinics, and digital health platforms. The company plays a vital role in community-based healthcare, offering prescription fulfillment, vaccinations, chronic condition management, and preventative care services.