Victorville, CA - CVS Pharmacy

Description:

SRS Real Estate Partners is pleased to present the opportunity to acquire the fee simple interest in a CVS Pharmacy located in Victorville, California. Backed by a corporate guaranty from CVS Caremark Corporation, a wholly owned subsidiary of CVS Health (NYSE: CVS | S&P: BBB), one of the largest and most financially secure retail pharmacy operators in the U.S. with over 9,000 locations nationwide and an investment-grade credit rating from S&P. The lease features more than 11 years of remaining term and ten (10) five-year renewal options, 8 of which feature FMV rent increases. Structured as an absolute NNN lease, the tenant is responsible for all expenses, making this a passive, low-management investment opportunity with stable long-term cash flow.

The property occupies a prime corner location at the signalized intersection of Palmdale Road (40,000 VPD) and El Evado Road (13,700 VPD), just four minutes from Interstate 15 (102,000 VPD). It is surrounded by national tenants including AutoZone, Dollar General, and Circle K, and is adjacent to a Cardenas Markets–anchored center with outparcels such as Pizza Hut and McDonald’s, promoting strong cross-shopping activity. The store sees over 333,000 annual visits and ranks in the top 71st percentile nationally for CVS locations, according to Placer.ai. Nearby community anchors, including Silverado High School and University Preparatory School, help sustain foot traffic, while adjacent multifamily properties like Village Oaks Apartments (116 units) and Rancho Seneca Apartments (203 units) contribute a stable residential consumer base. The five-mile trade area is home to more than 197,000 residents and 40,000 employees, with an average household income exceeding $97,000. Located within California’s Inland Empire MSA, one of the state’s fastest-growing regions with over 4.6 million residents, the property benefits from strong demographics, regional connectivity, and a diverse economic base anchored by logistics, healthcare, education, and retail.