929 Sierra St - Drug Store FOR SALE
Kingsburg, CA 93631 |
929 Sierra St
Kingsburg, CA 93631
HIGHLIGHTS
- Recent Lease Extension – CVS has 13+ years remaining on an absolute NNN lease, with 50 additional years of options
- Below Market Rent – CVS is only paying $8.37 PSF/Year, well below the average rent for CVS in California
- Absolute NNN Lease – The tenant is fully responsible for operating expenses, maintenance, and repairs for the entire building and site
- Hedge Against Inflation – The lease offers very favorable 5% increases throughout the 10 option periods, steadily increasing the cash flow over time
- Nearby Retail Synergy – Nearby national tenants include McDonald’s, O’Reilly Auto Parts, Walgreens, and more
- Nationally Recognized Investment Grade Tenant – Lease is fully guaranteed by CVS Health Corporation (S&P’s rated BBB)
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
TOTAL BUILDING SIZE
21122
STORIES
1
YEAR BUILT
1999
SPRINKLERS
-
PARKING SPACES
50
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
394-220-16
