CVS Pharmacy NNN Property For Sale — Phoenix, AZ
18460 N 7th St, Phoenix, AZ 85022
This absolute NNN leased CVS Pharmacy presents an outstanding investment opportunity in Phoenix, Arizona. The property features a pending 10-year lease extension with CVS, demonstrating their long-term commitment to the site, along with 8 (5-year) options to extend. The lease includes attractive 10% rental increases at the start of each option period, providing a hedge against inflation and steadily growing Net Operating Income. With an absolute NNN lease structure, there are zero landlord responsibilities, making this an ideal, management-free investment. CVS has successfully operated at this location since 2005, benefiting from its strategic position at a signalized intersection with high daily traffic counts. The property supports approximately 385,000 customers annually and ranks with…
- Address: 18460 N 7th St, Phoenix, AZ 85022
- Asking price $7.27M
- 5.75% cap rate
- NOI $417,970
- 10 years remaining
- NNN lease
- Year built: 2005
- Building size: 13,055 SF
- Lot size: 1.40 acres
- Rent increases: 10% rental increases at the beginning of each option period
- Guarantor: Corporate
Location
This CVS Pharmacy property is at 18460 N 7th St in Phoenix, Arizona.
Asset type: Retail