Pharma Property Group Announces Exclusive Listing of CVS in Rocklin, California
Pharma Property Group exclusively listed the CVS for sale located at 3251 Stanford Ranch Road in Rocklin, California. This CVS store has approximately seven years left on the initial lease term with two 5-year options. Lease allows for approximately 5% rental increases at every 5-year option. Next option begins January 2024.
“The CVS for sale allows for an investor to purchase a drugstore for sale in a primary market in the Bay Area of California at a 6 CAP plus return. This is a rare short term leased CVS that is on an absolute net lease structure and provides for 7% rental increases in the option periods,” explains Jason Stuart Pongsrikul who is the lead broker on the listing.
Mr. Pongsrikul continues, “This is a great opportunity for investors who normally do not purchase drugstores since they require rental increases. Most drugstores with under seven or eight years of lease term are usually double net with landlord responsible for roof and structure and many provide for no increases or minimal increases in the options. This lease is extremely unique as it provides for a higher return due to its short lease term remaining but calls for rental bumps and zero landlord responsibilities.”
Rocklin is located in South Placer County just 30 minutes from the capital city of Sacramento, and located two hours from Lake Tahoe, and the Pacific Ocean near San Francisco, California.
Pharma Property Group is a specialized national commercial real estate brokerage firm providing investment services for drugstore landlords who own Walgreens, CVS and Rite Aid properties throughout the nation.
Pharma Property Group
5328 Banks Street Suite B
San Diego, CA 92110
Office: (619) 297-0055