CVS Absolute Bond Triple Net

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Property Details

  • Price: $5,185,185
  • Transaction Type: For Sale
  • Property Type: Retail
  • Building Size: 13,302 SF
  • Lot Size: 1.4 AC
  • Cap Rate: 5.40
  • Lease Term 12 years

Property Description

  • Over 12 years remaining on Absolute Bond Net Lease
  • Last three years of base lease term are prepaid
  • 5.9% yield day one
  • Located in one of the strongest markets in the US
  • Highly visible hard corner with over 31,000 vehicles per day
  • Population of 278,500 within 5 miles of the property
  • Steady increases in population and average household income
  • Drive-through prescription window and on-site liquor sales
  • 7-Eleven, Chevron and Dollar Tree are all on the intersection with the CVS

HMX Realty Advisors exclusively presents for sale a freestanding CVS drugstore located at 6705 East Lake Mead Boulevard Las Vegas Nevada. The bond net lease has over 12 years of remaining lease term. The property is a pad site to an Albertsons anchored supermarket. The property is its own parcel and not subject to any restrictions. East Lake Mead Boulevard has over 20,000 vehicles per day and N. Hollywood Blvd has 11,700 VPD and is part of the Northeast Las Vegas sub-market of Las Vegas. The building was built in 1999 and sits on 1.4 acre.

The property dominates the intersection of North Hollywood Boulevard and Lake Mead also known as Route 147. Walmart Neighborhood Market is located mid-block as is Walgreens on Lake Mead. Retailers in the area include AutoZone Tire Works Pizza Hut Albertsons 7-Eleven Walgreens and Walmart Neighborhood Market. The area has a mountain range to the east which prevents further growth in that direction making this a solid in-fill location. Lake Mead Boulevard carries traffic to Hoover Dam and Lake Mead.

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Financial Summary (Actual - )

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