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6588 Foothill Blvd 14,745 SF Retail Building Tujunga, CA 91042 $11,625,000 ($788.40/SF) 4.75% Cap Rate
Investment Highlights
- Long-term absolute NNN lease - 5% cap rate
- Almost zero landlord responsibilites in the well-maintained prominent Tujunga Canyon Center
- Centrally located in Tujunga on the major signalized corner of Foothill and Tujunga Canyon Blvd.
- Four (4) 5-year options remain w/ 10% increases every 5 years
- Anchor tenant with drive-thru pharmacy - adjacent retailers include McDonald's, Dollar Tree, IHOP, WINGSTOP
- Dense surrounding population – high traffic exposure to over 33,000 cars per day surrounded by national retailers
Executive Summary
Specialized Realty proudly presents the opportunity to purchase a single tenant retail asset leased by CVS Pharmacy in the prominent Tujunga Canyon Center in the heart of Tujunga, California.
6588 Foothill Blvd. is a single-tenant, absolute NNN lease with a corporate guaranty and almost zero landlord obligations in a center with well-established national tenants. The current lease has 4 years remaining (expiring March 2028) with four (4) five (5) year renewal options.
Current NOI - $551,911.92
Cap Rate – 4.75%
Increases – 10% every five years throughout the option periods starting in 2028, 2033, 2038, and 2043
Price per /SF - $788.40
CVS Pharmacy w/ drive-thru is the anchor tenant occupying 14,745 SF on a 1.65 acre parcel zoned LAC2 (APN 2564-012-039) in a center featuring several national retailers which include McDonald's, IHOP, WINGSTOP, and Dollar Tree. Nearby national and regional major retailers include In-N-Out, Public Storage, PetSmart, Chase, Chevron, 7-Eleven, Albertsons, Harbor Freight, Big 5, and Smart & Final.
The subject benefits from its location on the major thoroughfare running from Sunland to La Canada at the signalized intersection of Tujunga Canyon and Foothill Blvd. with exposure to over 33,000 vehicles per day. The asset is located within a diverse retail landscape & affluent demographic with a median household income over $92,000 within a 3-mile radius.
6588 Foothill Blvd. is a single-tenant, absolute NNN lease with a corporate guaranty and almost zero landlord obligations in a center with well-established national tenants. The current lease has 4 years remaining (expiring March 2028) with four (4) five (5) year renewal options.
Current NOI - $551,911.92
Cap Rate – 4.75%
Increases – 10% every five years throughout the option periods starting in 2028, 2033, 2038, and 2043
Price per /SF - $788.40
CVS Pharmacy w/ drive-thru is the anchor tenant occupying 14,745 SF on a 1.65 acre parcel zoned LAC2 (APN 2564-012-039) in a center featuring several national retailers which include McDonald's, IHOP, WINGSTOP, and Dollar Tree. Nearby national and regional major retailers include In-N-Out, Public Storage, PetSmart, Chase, Chevron, 7-Eleven, Albertsons, Harbor Freight, Big 5, and Smart & Final.
The subject benefits from its location on the major thoroughfare running from Sunland to La Canada at the signalized intersection of Tujunga Canyon and Foothill Blvd. with exposure to over 33,000 vehicles per day. The asset is located within a diverse retail landscape & affluent demographic with a median household income over $92,000 within a 3-mile radius.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
14,745 SF
Building Class
B
Year Built
2003
Price
$11,625,000
Price Per SF
$788.40
Cap Rate
4.75%
NOI
$551,911
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.65 AC
Zoning
C2 - Commercial
Parking
45 Spaces (3.05 Spaces per 1,000 SF Leased)
Frontage
324’ on Foothill Blvd
Amenities
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 14,745 SF
- -
- Triple Net
- Mar 2028
CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, and the CVS name followed the next year. Pharmacies were added to CVS stores in Cranston, Rhode Island, and the business later became part of CVS Health, which expanded the enterprise into retail pharmacy, prescription benefits, and related health services. CVS Pharmacy operates as a retail pharmacy chain with neighborhood, mail-order, and specialty pharmacy services, plus prescription delivery and savings support. The company sells over-the-counter medicines, beauty products, seasonal merchandise, and convenience foods, and offers in-store and virtual care through MinuteClinic and related services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 14,745 SF | - | Triple Net | Mar 2028 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 2564-012-039 | Improvements Assessment | $3,595,539 |
| Land Assessment | $8,237,882 | Total Assessment | $11,833,421 |
Property Taxes
Parcel Number
2564-012-039
Land Assessment
$8,237,882
Improvements Assessment
$3,595,539
Total Assessment
$11,833,421
Contacts
-
Artak Dovlatyan -
Albert Karchikian -
Vartan Tashchyan -
Sioneh Keshishi -
Specialized Realty, Inc.
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