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CVS | Strong Intrinsic Value | Cheap Rent 5040 Laguna Blvd 31,324 SF Retail Building Elk Grove, CA 95758 $7,514,000 ($239.88/SF) 5.25% Cap Rate
Investment Highlights
- Well-Below-Market Rent ($12.59 PSF) | Intrinsic-Value Real Estate
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Dense, Established Retail Corridor
- 12.5 Years Remaining | Investment-Grade Corporate Guaranty (NYSE: CVS) | Rare 10% Increase In First Option, Future Upside with FMV Rent
- Irreplaceable Signalized, Hard Corner Intersection (120,595 VPD) | Bel Air Anchored Center, High-End 66,397 SF Grocery Store
- Strong Demographics and Daytime Population in 5-Mile Trade Area
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, CVS investment property located in Elk Grove, California. The tenant, Longs Drug Stores California, LLC (dba CVS) has approximately 12.5 years remaining on their lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increases in the 1st option, 5% In the 2nd option and 3 (5-Year FMV), steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
31,324 SF
Building Class
B
Year Built
1990
Price
$7,514,000
Price Per SF
$239.88
Cap Rate
5.25%
NOI
$394,500
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.24
Lot Size
3.02 AC
Zoning
GC - General Commercial
Parking
134 Spaces (4.28 Spaces per 1,000 SF Leased)
Frontage
242’ on Laguna
Amenities
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
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 | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
1 of 5
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