CVS Las Vegas, NV

Property Price: $6,476,000
Property Status: Closed
Property Type: Retail
Cap Rate: 5.35%
Lease Type: Fee Simple
Tenant Type: Single Tenant
NOI: $346,466
Building Size: 11,987 sf
Land Area: 1.47 acres
Remaining Term: 14 years
Expenses: NNN

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Landes Fairmount Properties is pleased to exclusively offer to the opportunity to acquire the fee simple CVS (BBB+) property located just six (6) miles from the world famous Las Vegas strip. The lease is 100% guaranteed by CVS Caremark Corporation. The subject property opened in June 2003, when CVS began paying rent. CVS operates under bonded twenty-five (25) year lease with approximately fourteen (14) years remaining on the initial lease term. The lease offers ten (10) extension periods, at five (5) years. CVS Caremark Corporation also corporately guarantees the extension periods.

The property is located on the hard corner along S Buffalo Dr. and W Desert Inn Rd., just minutes away from Las Vegas Blvd. This CVS is located in the heart of the expanding suburbs of Las Vegas, including a population of over 400,000 within a three mile radius according to the 2010 US Census. The subject CVS is also just minutes away from both Canyon Gate Country Club and Spanish Trail Country Club. . This property is a proven location for a CVS, providing a viable long-term investment opportunity.


Agent Contact Information

Justin Grissen
Managing Director

Austin Landes
Investment Advisor

Caleb Landes
Investment Advisor

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