19507 Highway 99
Lynnwood, WA 98036
CVS Pharmacy · Retail Property For Sale

Stan Johnson Company (“SJC”), on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% fee simple interest in the single-tenant retail property located at 19507 Pacific Highway (WA-99) in Lynnwood (Seattle), Washington (the “Property”). Newly constructed in 2016, the Property comprises ±12,900 SF on a ±1.10-acre parcel and located near the intersection of Washington Highway 99 (34K + VPD) and Washington Highway 524 (24K + VPD). The Property is centrally located in an affluent suburb ±15 miles north of Downtown Seattle known for being the premier retail hub of Seattle’s north suburbs. Boasting a low 2% vacancy rate within 1 mile of I-5, the retail trade area serves a population of 957,202 with an average household income of $105,000. Lynnwood has experienced tremendous population growth of 32.7% since 1990 which has been accompanied by job market growth far outpacing the rest of the nation. A rare 24-hour CVS location, the Property features a drive-thru and offers CVS’s premier amenities, including in-store immunizations, photo services and the sale of beer, liquor and wine. CVS Corporation (NYSE: CVS | S&P: BBB) fully guarantees the lease and operates under an absolute NNN, 25-year base lease term with more than 23 years remaining and ten, five-year renewal options. A truly passive investment opportunity there is no Landlord responsibility whatsoever over the life of the lease. The Property presents a Zero Cash Flow acquisition opportunity, offered with a non-recourse, fixed rate, fully amortizing loan for investors seeking to increase a depreciable basis while requiring minimal equity. This structure is also ideal for tax-deferred 1031/1033 exchange buyers seeking passive losses that may