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CVS Pharmacy

Stockton, California

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Marcus & Millichap is pleased to present the exclusive listing for an CVS located at 2605 West March Lane in Stockton, CA. The site consists of roughly 10,800 rentable square feet of building space on estimated 2.15-acre parcel of land. CVS has over 15 years remaining on a 25-year true triple-net (NNN) lease.

About the Investment:

✓ Absolute Triple-Net (NNN) Lease with Over 15 Years of Term Remaining
✓ Over 126,900 People Live Within Three Miles of the Property | Forecasted Population Growth Over the Next Five Years in a 1, 3, 5, and 10-Mile Radii
✓ Situated on a 2.15 Acre Parcel
✓ Investment Grade Credit: CVS Corporate (S&P: BBB)

About the Location:

✓ Dense Retail Corridor | Home Depot, Target, AutoZone Auto Parts, Hobby Lobby, Taco Bell, Olive Garden, Applebee’s, In-N-Out, Chick-fil-A, McDonald’s, Hilton, and Many More.
✓ Affluent Suburban Community | Average Income Within a One-Mile Radius Exceeds$100,500
✓ Heavily Trafficked Area | West March Lane and Interstate-5 | Average Daily Traffic Counts Exceeding 53,600 and 112,000, Respectively
✓ Large Academic Presence | University of the Pacific, San Joaquin Delta Collee and Stagg High School all Located Within a Two-Mile Radius | Combined Enrollment of Over 26,200 Students
✓ Excellent California Real Estate |Stockton, CA is the 13th Most Populous City in California

about the Tenant/Brand:

✓ CVS Pharmacy is the Largest Pharmacy Chain in the United States with Over 9,900 and has the Highest Prescription Revenue
✓ CVS Pharmacy Also Provides Healthcare Services Through its More Than 1,100 MinuteClinic Medical Clinics as well as Their Diabetes Care Centers
✓ CVS had 2018 Revenues of More Than $194 Billion
✓ CVS Pharmacy Fills More Than 1.9 Billion Prescriptions Every Year

Key Details

Price:
$12,516,433
Cap Rate:
4.85%
Annual Rent:
$607,047
Address:
2605 West March Lane, Stockton, California 95207
Property Type:
Net-Leased Drug Store
Lease Type:
Triple-Net (NNN)

Original Lease Term:
25 Years
Lease Commencement:
December 21st, 2011
Lease Expiration:
January 31st, 2037
Lease Term Remaining:
15.4 Years
Lot Size:
+/- 2.15 Acres
Building Size:
10,800 SF
Year Built:
1979
Year Renovated:
1999
Tenant:
CVS Pharmacy

Broker of record

John Vorsheck

License: 01419126


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