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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

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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

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

Bus Line

Dedicated Turn Lane

Pylon Sign

Signage

Retailer
99,999 SF
$9.99
Lorem Ipsum
Jan 0000

CVS Pharmacy began as a single store in Lowell, Massachusetts in 1963 and grew into a retail pharmacy business within CVS Health. The company dispenses prescriptions and supports patient care through vaccinations, counseling, prescription savings, mail order pharmacy, specialty pharmacy, and prescription delivery, while also selling health and wellness products and general merchandise. CVS Pharmacy remains a major U.S. pharmacy chain with a broad neighborhood presence and is part of a larger health care platform that connects retail pharmacy, pharmacy benefits, and related services.