Reno, NV - CVS (Dollar Tree Sublease)
$2,632,000
1250 W. 7th Street, Reno, NV 89503
4.75
Cap Rate
125,000
NOI
Details:
Description:
SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN ground leased, corporate guaranteed CVS Pharmacy investment property located in Reno, Nevada. CVS Pharmacy remains obligated under a long-term corporate lease with approximately 14 years remaining in the primary term, followed by eight five-year renewal options. Although the store has ceased operations, CVS continues to pay rent under the terms of the lease. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. CVS currently subleases the property to Dollar Tree, which took delivery in July 2026 and is currently completing its buildout.
The property is strategically positioned at the signalized, hard-corner intersection of W. 7th Street and Elgin Avenue, with immediate access to Interstate 80 (111,000 VPD) and additional frontage along W. 7th Street (8,000 VPD) and Keystone Avenue (24,100 VPD). The subject is within walking distance of Downtown Reno and the Reno Strip, home to several of the city’s most prominent casino and entertainment destinations, including Silver Legacy (1,700 rooms), Eldorado (815 rooms), Circus Circus (1,573 rooms), and J Resort (718 rooms). Additionally, the property is located approximately 9 minutes from the University of Nevada, Reno, home to more than 24,000 students, providing access to a significant student, faculty, and employment base. The property is also surrounded by numerous national and regional retailers including Raley’s, Starbucks, Pizza Hut, Jiffy Lube, Burger King, Taco Bell, UPS Store, and others. Its infill location near the Reno Strip, Renown Regional Medical Center
(808 Beds), and Reno-Tahoe International Airport provides convenient access to major tourism, entertainment, employment, and transportation drivers. The 5-mile trade area is supported by more than 230,000 residents, 135,000 employees, and an average household income exceeding $109,000, providing strong long-term real estate fundamentals.
Location
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