8090 WA-539 - Drug Store FOR SALE
Lynden, WA 98264 |
$5,013,000 USD
415-971-4347
8090 WA-539
Lynden, WA 98264
HIGHLIGHTS
- The offering is a freestanding, single-tenant CVS equipped with a drive-thru, located in Lynden, WA
- The subject property was formerly a Rite Aid, and CVS recently assumed the Absolute NNN lease; the store is now open and operating
- The initial term runs through 03/31/2033, and CVS has eight, 5-year extension options
- A rare 25% rental increase within the first 4 years of ownership, thus boosting the yield to 8.75% based on a 7% going-in cap rate
- The Lynden CVS is located on a signalized intersection along Guide Meridian Road, which boasts daily traffic counts that exceed 26,000 VPD
- Walgreens does not have a store within the surrounding area, making CVS the go-to pharmacy serving this market
OVERVIEW
FOR SALE DETAILS
PRICE
$5,013,000 USD
PRICE/SF
$285 USD /SF
CAP RATE
7%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
CVS
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
ADD'L SUBTYPES
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2006
SPRINKLERS
-
PARKING SPACES
15
LAND DETAILS
LAND ACRES
0.99 AC
LAND SF
43,124 SF
ZONING
C
APN/PARCEL ID
400330-019510-0000
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415-971-4347
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415-971-4347
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