Las Vegas, NV - CVS Pharmacy

Description:

SRS Real Estate Partners, LLC is pleased to present the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, drive-thru equipped, freestanding CVS investment property located in Las Vegas, Nevada. The tenant has approximately 8 years remaining with 10 (5-year) options to extend. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor in an income tax free state. CVS Pharmacy is America’s leading retail pharmacy with nearly 10,000 locations across 49 states, District of Columbia and Puerto Rico.

The asset is located at the signalized, hard corner intersection of North Hollywood Boulevard and East Lake Mead Boulevard which serves over 43,000 vehicles per day. Furthermore, the site benefits from nearby access to State Highway 612 (56,100 VPD), making this an ideal, centralized location with easy commutes. The site is strategically positioned as an out parcel at Sunrise Plaza, a 99,000 SF neighborhood center anchored by an Albertsons that ranks in
the top 76th percentile nationwide, per Placer.ai. Other nearby national/credit tenants include Walmart Neighborhood Market, Lowes, Dollar Tree, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Moreover, the subject property is within walking distance from multiple apartment complexes including The Mountainside Apartments (272 units), Avion at Sunrise Mountain (352 units), Desert Ridge (304 units), and more, providing a direct residential consumer base from which to draw. Located 8 miles from the Downtown Las Vegas, the 5-mile subject trade area is supported by more than 270,00 residents and 63,000 daytime employees. Residents within a 1-mile radius earn an average household income of more than $75,000.