Pegasus Investments Real Estate Advisory Inc., as exclusive sales advisor to owner, is pleased to present the rare opportunity to acquire a single tenant absolute NNN, CVS Pharmacy in Bell (Los Angeles), California (the “Property”). Ranked in the top 1% of all CVS locations nationally per historical Placer.ai foot-traffic analytics, the store has successfully operated at this site for over 50 years and recently executed a 5-year lease extension through November 2031, reaffirming the tenant’s commitment to the site. The lease also includes two 5-year renewal options with 10% rental increases providing embedded income growth, a major benefit to this asset compared to the typical flat rent schedules of comparable pharmacy leases.
Positioned on a hard-corner and exposed to approximately 70,000 vehicles per day on the Atlantic Avenue corridor, the Property benefits from serving one of the densest and most supply-constrained trade areas in the United States at over 17,000 residents per square mile, where new competing development in the area is effectively impossible. The subject CVS is the only national pharmacy in its 1-mile radius, exclusively fulfilling the needs of the 55,000+ residents in the same trade area. With access to some of the most trafficked freeways in the country, the Property is reached by consumers throughout the Los Angeles metropolitan area, the second most populous in the United States with over 13 million residents, including over 860,000 residents in the Property’s 5-mile radius with an average household income of approximately $85,000 respectively.
The absolute NNN lease, the most passive form of commercial real estate ownership, is backed by an investment-grade corporate guaranty from CVS Health (S&P: BBB, Moody’s Baa3), the nation’s largest integrated healthcare enterprise and the preferred credit in the drugstore net lease sector. Founded in 1963, CVS has grown into a Fortune 10 company, generating over $400 billion in annual revenue. In its 2026 Q2 earnings call, the company reported revenue growth across all segments and significant year-over-year growth in Adjusted EPS and Adjusted Operating Income, reinforcing the company’s upward growth trajectory and status as a safe haven, low risk tenant in the net lease sector.
With the local economy backed by Industry, Entertainment, and Technology in conjunction with a population with high average annual income across the region, the asset benefits from steady, long-term consumer demand built to withstand cyclical economic downturns. Additionally, with fee-simple ownership, ownership is provided with full depreciation benefits, with cost segregation potential to further enhance after-tax cash flow. The Property has minimal downside, with various alternative-use options, including multi-tenant retail conversion as well as the opportunity for mixed-use or residential development under California’s commercial-corridor housing legislation (AB 2011 / SB 6). Combining top 1% store-level performance, more than 50 years of demonstrated tenant commitment, investment-grade credit, and management free cash flow, the offering represents the ideal opportunity to invest in low risk, quality real estate in the irreplaceable urban Los Angeles market.