1485 S Garey Ave
Pomona, CA 91766
CVS Pharmacy · Retail Property For Sale

This is a single tenant absolute NNN CVS/ Pharmacy located in the City of Pomona, CA within Los Angeles County. Pomona is 27 miles east of downtown Los Angeles. The property occupies 1.38 acres (60,112 SF) at the signalized corner of W Philips Blvd. and S Garey Ave. The lease features rare 10% rental escalations every five-years (including options) with the next escalation scheduled for January 2024. Additionally, there are Six five-year options following the base lease, which expires in January 2029 (10+ years remaining). The approximate building square footage is 14,840. The free-standing structure was built in 2004 and includes 63 parking spaces. The property is strategically located between three major freeway arteries: 10, 71, & 60 FWYS that funnel Southern California residents between Los Angeles and Riverside Counties. Traffic counts are abundant along these arteries with over half a million cars transiting daily. S Garey Ave enjoys 25K CPD while E Phillips Blvd sees over 12k CPD. The specific site location is surrounded by mostly residential area, with CVS/Pharmacy being the only major stand-alone pharmacy in the immediate area. The subject property is located in a dense area with over 399K people living within a five-mile radius of the property. The average household income within a five-mile radius is $85,414 CVS Health, CVS/ Pharmacy’s parent company just merged with Aetna Inc. (third largest U.S. health care company), one of the most highly regarded and innovative healthcare co. in the world. The acquisition was made in Dec. 2018 in a deal which the New York Times reported would “reshape the American heath care industry”. Suffice to say, the recent acquire is poised to keep CVS Health/ Pharmacy in the driver’s seat for the foreseeable future in the pharmacy & retail space.