9502 176th St E 17,762 SF Retail Building Puyallup, WA 98375 $8,898,000 ($500.96/SF) 5.50% Cap Rate

Faris Lee Investments is pleased to offer for sale a CVS Pharmacy situated at a signalized hard corner in Puyallup, WA. CVS is an investment-grade credit tenant (S&P: BBB) with a market capitalization of $114 billion and TTM revenue exceeding $407 billion. This location is a top-tier performer, currently ranked as the highest-producing CVS pharmacy in Washington. The site benefits from a significant recent influx of “scripts” following the closure of five regional Rite Aid locations, further solidifying its dominant market share. This high-volume store is supported by two full-time pharmacists and seven technicians, with a major remodel scheduled for August to include recently installed coolers, demonstrating a long-term commitment to the site. CVS Pharmacy has grown into one of the most trusted healthcare brands in the U.S., operating over 9,000 locations nationwide with a workforce of 300,000 employees. As a dominant industry leader, CVS continues to expand its integrated healthcare model, ensuring its position as a staple of institutional real estate portfolios. This specific location serves as a critical healthcare hub for the trade area, standing as the only CVS within the immediate region and one of only three drugstores within a five-mile radius. The subject property is strategically located at the signalized hard corner of 176th St and Gem Heights Rd, which sees over 24,000 VPD. It sits as a high-profile outparcel to a top-performing WinCo Foods, which ranks in the top 10% of the chain with annual sales exceeding $90 million. The surrounding area features affluent and dense infill demographics, with over 175,000 residents and an average household income surpassing $140,000 within a 5-mile radius. This NNN investment offers ideal ease of management for a passive investor or 1031 exchange buyer, as WinCo oversees the CAM management. The property’s exceptional sales performance and prime positioning make it a premier investment opportunity.