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CVS PHARMACY | ABSOLUTE NNN 14589 Camino Del Norte 16,972 SF Retail Building San Diego, CA 92128 $9,187,920 ($541.36/SF) 5% Cap Rate
Investment Highlights
- Absolute Net Lease. 26+ Year Historical Occupancy as a Drug Store Demonstrating a Strong Commitment to the Location.
- Prime I-15 Corridor Location - Property Sits within San Diego’s I-15 Corridor Trade Area Described as Dominant Retail Trade Area in North San Diego.
- Established Master-Planned Scale - Carmel Mountain Ranch Spans 1,489 Acres and is a Master-Planned Community Along the I-15 Corridor.
- Strong Tenant - CVS Health (NYSE: CVS) features a S&P Investment Grade Credit Rating of “BBB” and is Ranked #5 on the Fortune 500 List.
- Positioned Along A High-Traffic Regional Corridor - Signalized Intersection Location featuring Easy Access, Excellent Visibility, and Strong Frontage.
Executive Summary
CVS Pharmacy | Absolute NNN | Prime I-15 Corridor Location | Signalized Hard Corner Intersection - High-Traffic: 80k+ Vehicles per Day | Densely Populated and Affluent Trade Area: $178k+ Avg. HHI | Across Carmel Mountain Plaza Shopping Center | Minutes from Medical Center | Strong Regional Demand Drivers Established, Upscale San Diego Market | 26+ Year Historical Occupancy.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
16,972 SF
Building Class
B
Year Built/Renovated
2000/2006
Price
$9,187,920
Price Per SF
$541.36
Cap Rate
5%
NOI
$459,396
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
2.59 AC
Zoning
CC-1-3
Parking
50 Spaces (2.95 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 16,972 SF
- -
- Triple Net
- Jan 2032
CVS Pharmacy began as Consumer Value Stores in Lowell, Massachusetts in 1963 and introduced pharmacies inside stores a few years later in Cranston, Rhode Island. The business operates as part of CVS Health, a broader health care company that combines retail pharmacy with pharmacy services, mail order, specialty pharmacy, prescription delivery, vaccinations, and clinical support. CVS Pharmacy serves consumers through a wide network of neighborhood pharmacies and offers services tied to medication access, counseling, and wellness needs. Over time, the company expanded from a single store format into a major U.S. pharmacy presence with a national footprint in health care delivery.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 16,972 SF | - | Triple Net | Jan 2032 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 313-021-04 | Improvements Assessment | $2,759,478 |
| Land Assessment | $5,466,344 | Total Assessment | $8,225,822 |
Property Taxes
Parcel Number
313-021-04
Land Assessment
$5,466,344
Improvements Assessment
$2,759,478
Total Assessment
$8,225,822
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