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CVS Pharmacy

Stockton, California

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This CVS Pharmacy investment property is situated on West March Lane, which boasts an average daily traffic count exceeding 53,600 vehicles per day, respectively. West March Lane interests with Interstate-5 (I-5), one of the nation’s busiest interstates, which spans the entirety of the west coast. I-5 brings an additional 112,000 vehicles to the immediate area daily. There are more than 129,200 individuals within a three-mile radius, and over 287,600 within a five-mile radius. Additionally, this CVS property is situated in an affluent suburban community with an average household income of over $100,000 within a one-mile radius.

The subject property benefits from being well-positioned in a dense retail corridor consisting of national and local tenants, large shopping centers, hospitality accommodations and academic institutions all within close proximity of this property. Major national tenants in the area include: The Home Depot, Target, AutoZone Auto Parts, Hobby Lobby, Taco Bell, Olive Garden, Applebee’s, In-N-Out, Chick-fil-A, McDonald’s, and many others. Hospitality accommodations in the area include the Hilton, La Quinta Inn, Courtyard by Marriott, Residence Inn, and more. Additionally, the subject property is ideally located one mile west of Westertown Mall, the premier shopping destination in the San Joaquin Valley. Furthermore, the subject CVS benefits from its proximity to several academic institutions. The most notable is the University of Pacific, a top rated, private university, which has an enrollment of over 6,500 students, 1,820 employees and over a $279 million of annual economic impact in Stockton. The subject property is in the 99th percentile of all CVS Pharmacies and is the 16th ranked CVS Pharmacy in the United States.*

Stockton is the county seat of San Joaquin County in the Central Valley of the U.S. state of California. The city is located on the San Joaquin River in the northern San Joaquin Valley and had an estimated population of over 318,000. Stockton is the 11th largest city in California and the 58th largest city in the United States. It was named an All-America City in 1999, 2004, 2015 and again in 2017. The diverse economy offers a mix of industries: Healthcare & Social Assistance, Educational Services, Manufacturing, Retail Trade, and Accommodation & Food Services.

*Data provided by Placer Labs Inc. (www.placer.ai); Ranking based on estimated consumer foot traffic

  • CVS to Receive Rent Holiday for the Three Final Years of Base Term
  • Seller to Provide $960,000 Rent Credit at Close for Rent Holiday (6% Discount Rate of Annual Rent)

Key Details

Price:
$11,250,000
Cap Rate:
5.40%
Annual Rent:
$607,407
Address:
2605 West March Lane, Stockton, California 95207
Lease Type:
Triple-Net (NNN)

Original Lease Term:
25 Years
Lease Commencement:
December 21st, 2011
Lease Expiration:
January 31st, 2037
Rental Increases:
None, Flat Through January 2034
Lot Size:
2.15 Acres
Building Size:
10,800 SF
Year Built:
1979
Year Renovated:
1999
Tenant:
CVS Pharmacy

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Matthew Anuszkiewicz

License: 10401294046

Francis Purritano

License: 10401333619

Andrew Darby

Broker of record

Brian Brockman

Bang Realty-California, Inc

License: 2154562


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