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CVS 6650 W Lower Buckeye Rd 13,050 SF Retail Building Phoenix, AZ 85043 $5,922,619 ($453.84/SF) 7.75% Cap Rate
Investment Highlights
- Located in Phoenix – One of the Nation’s Premier Growth Markets – Phoenix continues to experience strong population growth
- Large Parcel Size with Strong Real Estate Fundamentals – The property sits on a large parcel, providing strong underlying real estate value
- Strong Surrounding Demographics – The property is supported by strong local demographics including over 12,000 residents within a 1-mile radius
- Surrounded by Major Industrial and Residential Development – The property is located along the Lower Buckeye Road and Loop 202 corridor
- High Traffic Retail Corridor – The property benefits from strong traffic counts of approximately 35,270 vehicles per day, providing excellent visibili
- Passive Absolute NNN Investment – The property operates as an absolute NNN investment, providing passive ownership with no landlord responsibilities
Executive Summary
David Harrington
License # CO701910000, BR715518000 (AZ)
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
License # CO701910000, BR715518000 (AZ)
Matthews Real Estate Investment Services, Inc
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,050 SF
Building Class
B
Year Built
2006
Price
$5,922,619
Price Per SF
$453.84
Cap Rate
7.75%
NOI
$459,003
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
2.25 AC
Opportunity Zone
Yes
Frontage
Amenities
- Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, selling health products. The company expanded into pharmacy services in 1967 and was later acquired by Melville Corporation. Through strategic acquisitions like MinuteClinic and Caremark, CVS grew its healthcare services. The 2018 merger with Aetna made CVS Health a major player in insurance. Today, the company operates pharmacies nationwide, manages pharmacy benefits, and provides health insurance through various subsidiaries.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Somewhat walkable
30/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 104-37-633 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $511,560 |
Property Taxes
Parcel Number
104-37-633
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$511,560
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CVS | 6650 W Lower Buckeye Rd
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