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
NNN Pro Group is pleased to present the exclusive listing for a Red Lobster located at 6231 Sunrise Boulevard in Citrus Heights, California. The site consists of roughly 8,658 rentable square feet of building space on estimated 0.92-acre parcel of land. This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced October 28th, 2015. The current annual rent is $473,156 and is scheduled to increase by 2% annually throughout the base term and in each of the 4, 5-year renewal options.
✓ Long-Term, Absolute Triple-Net (NNN) Lease with Over 16 Years Remaining on the Base Term
✓ Corporate Tenant | Corporate Guaranty
✓ Attractive Rental Increases of Two Percent (2.00%) Annually
✓ Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 46 Years
NNN Pro Group is pleased to present the exclusive offering for a Red Lobster located at 72291 Highway 111, in Palm Desert, CA. The site consists of roughly 6,127 rentable square feet of building space on an estimated 1.35-acre parcel of land. This Red Lobster is subject to a long-term, absolute triple-net (NNN) lease, which commenced July 28, 2014. The current annual rent is $406,146 and is scheduled to increase by 2.00% annually throughout the remainder of the base term and in each of the four (4), five (5)-year tenant renewal options.
✓ Long-Term, Absolute Triple Net (NNN) Lease
✓ Over 20 Years Remaining on the Base Term
✓ Attractive Two Percent (2%) Annual Rental Increases
✓ Four (4), Five (5)-Year Tenant Renewal Options
✓ Red Lobster Corporate Guarantee (700+ Restaurants)
NNN Pro Group is pleased to present the exclusive listing for a Red Lobster located at 3000 Sisk Road in Modesto, California. The site consists of roughly 8,248 rentable square feet of building space on estimated 1.65-acre parcel of land. This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced October 28th, 2015. The current annual rent is $506,577 and is scheduled to increase by 2% annually throughout the base term and in each of the 4, 5-year renewal options.
About the Investment:
✓ Long-Term, Absolute Triple-Net (NNN) Lease with Over 16 Years Remaining on the Base Term
✓ Corporate Tenant | Corporate Guaranty
✓ Attractive Rental Increases of Two Percent (2.00%) Annually
✓ Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 46 Years
NNN Pro Group is pleased to present the exclusive listing for a Red Lobster located at 3000 Sisk Road in Modesto, California. The site consists of roughly 8,248 rentable square feet of building space on estimated 1.65-acre parcel of land. This Red Lobster is subject to a long-term absolute triple-net (NNN) lease, which commenced October 28th, 2015. The current annual rent is $496,644 and is scheduled to increase by 2%annually throughout the base term and in each of the 4, 5-year renewal options.
✓ Long-Term, Absolute Triple-Net (NNN) Lease with Over 17 Years Remaining on the Base Term
✓ Corporate Tenant | Corporate Guaranty
✓ Attractive Rental Increases of Two Percent (2.00%) Annually
✓ Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 46 Years
NNN Pro Group is pleased to present the exclusive listing for a Red Lobster located at 1400 Howe Avenue in Sacramento, California. The site consists of roughly 9,200 rentable square feet of building space on estimated 1.64-acre parcel of land. This Red Lobster is subject to a 20-year absolute triple-net (NNN) lease, which commenced October 28th, 2015. The current annual rent is $505,112 and is scheduled to increase by 2% annually throughout the base term and in each of the 4, 5-year renewal options.
✓ Long-Term, Absolute Triple-Net (NNN) Lease with Over 17 Years Remaining on the Base Term
✓ Corporate Tenant | Corporate Guaranty
✓ Attractive Rental Increases of Two Percent (2.00%) Annually
✓ Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 46 Years
The NNN Pro Group is pleased to present the exclusive listing for the Red Lobster located at 3700 Park Sierra, Riverside, CA 92505. The site will consist of roughly 8,530 rentable square feet of building space on an estimated 0.92-acre parcel of land. The Red Lobster is subject to an absolute triple-net (NNN) lease that commenced on 7/28/2014. The annual rent will be $396,328 in August 2024 and is scheduled to increase by 2% Annually throughout the base term and continuing through 4, 5-Year Renewal Options.
About the Investment:
✓ Long-Term, Absolute Triple Net (NNN) Lease
✓ Over 20 Years Remaining on the Base Term
✓ Attractive Two Percent (2%) Annual Rental Increases
✓ Four (4), Five (5)-Year Tenant Renewal Options
✓ Red Lobster Corporate Guarantee (700+ Restaurants)
✓ Oversized 1.70 Acre Lot
