CVS Pharmacy | Antioch, CA
Antioch, CA
Price: $10,350,000Cap Rate: Building SF: 15,789Lot Size: 1.954 AcresYear Built: 2015 (New Construction)Status: Under Contract

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Investment Highlights: 

 

New Long Term Lease with Investment Grade Credit Tenant -The new 20-year NNN lease features four (4) 5-year renewal options and is guaranteed by CVS Caremark, the largest pharmacy health care provider in the U.S..

Rent Growth – The lease features rare 6% rent escalations every 5 years in both the primary term as well as a the option periods.

Strategic Location – The subject property is located at the intersection of Buchanan Rd & Somerville Rd, inside one of Antioch’s main retail corridors. The site is surrounded by dense residential housing and several schools including Los Medanos College, which enrolls nearly 10,000 students.

New Construction – This new CVS just opened for business November 1st and will be a major anchor for the new Buchanan Crossings Shopping Center.

Limited Competition – This CVS Pharmacy will have limited drug store/pharmacy competitors in the area, making it a primary resource for nearby Kaiser Permanente, Pittsburg Health Center and Diamond Ridge Healthcare Center.

Strong Demographics – Nearly 83,000 people live within a 3 mile radius of the subject property, with an annual household income of $67,000.

 

 

 


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977