1916-2000 Driscoll Rd
Fremont, CA 94539
CVS · Retail Property For Sale

Marcus & Millicap is pleased to present a rare San Francisco Bay Area CVS Health Corpoation (CVS) net leased investment located in the affluent Mission Jose area of Fremont, California. CVS just exercised its 5 year option showing a commitment to this location. There are approximately 5 years remaining on the lease with 2-five year options and 1-four year option with each option providing a very rare 7% rent increase. CVS is the nation's #2 drugstore chain and a leading pharmacy benefits manager with nearly 65 million plan members. Record revenue and earnings helped CVS return more than $6 bilion to shareholders.CVS operates over 7,800 stores and is publicly traded on the New York Stock exchange under the ticker symbol "CVS". CVS has a credit rating of BBB+ by Standard and Poor's and was ranked #7 in Fortune 500 list. CVS is the anchor tenant at Mission Ranch Center. US Bank occupies the Southern pad (NAP) with Chevron gas station occupying the Eastern pad (NAP). This sale is a CVS condominium consisting of 16,224sf. The common area parcel consists of an undivided interest among CVS and the remaining ten in-line retail units. The location is within 0.5 miles from Hopkins Junior High School and Mission San Jose High School. Both schools are in the top tier of the California public schools and are much sought after for enrollment. Mission San Jose High School commands an impressive 953 out of 1000 on the API (Academic Performance Index) making Mission San Jose the top ranked non-magnet public high school out of 7,000 high schools in the state.