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CVS Exceptional Northern California location

Laguna Blvd and Franklin Blvd, Elk Grove, CA, 95758
For Sale

Property Highlights

    • Large format CVS HealthHUB offering expanded services
    • Rare 10% escalation in first option, 5% in second, and FMV thereafter
    • Low $12.59 psf rent in a $22 plus market
    • 1 mile Population of 18,758 and AHH Income of $131,879
    • Traffic Count of 62,000 vehicles per day at the corner
    • Nurse practitioners and licensed mental health therapists on site

Property Details

  • Price: $7,514,000
  • Property Type: Retail
  • Transaction Type: For Sale
  • Cap Rate: 5.25%
  • Building Size: 31,324 SF
  • Lot Size: 3.02 AC
  • Lease Type: NNN
  • Lease Term: 15 years
  • Rent Escalation: 10%

Property Description

HMX Realty Advisors exclusively presents for sale a CVS HealthHUB, which combines the offerings of a traditional CVS Pharmacy/MinuteClinic with expanded clinic services including on-site nurse practitioners, physician assistants, licensed therapists, additional pharmacists, and a Care Concierge. The store which is 31,324 sf, is ideally suited to the CVS HealthHUB business.

There are 15 years remaining on the base term with a rare 10% rent escalation in the first option and 5% in the second option. The remaining three options are at fair market value which offers significant upside given the below market rent of $12.59 psf. CVS handles all property expenses directly, bypassing the landlord. CVS is pays for CAM, roof and structure, taxes, maintenance and insurance directly. The property is located across from Safeway and adjacent to Bel Air grocery, which is owned by Raley’s Supermarket.

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Financial Summary

Investment Highlights

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Rent Roll

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