| Purchase Price | $6,720,000 |
|---|---|
| Annual Rental Income | $349,440 |
| Cap Rate | 5.20% |
| Lease Term | 20 Years |
| City | Peoria |
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CVS Pharmacy – Peoria, AZ
This CVS Pharmacy property in Peoria, Arizona is secured by a long-term absolute triple-net (NNN) lease with CVS Health, a Fortune 500 company and one of the most financially solid and nationally recognized pharmacy retailers in the United States. The investment offers passive, dependable income with zero landlord responsibilities, supported by a critical healthcare and convenience services tenant in a thriving suburban market.
Tenant Overview
CVS Pharmacy, a subsidiary of CVS Health (NYSE: CVS), operates over 9,000 locations across the country. The brand provides essential services including prescription fulfillment, immunizations, health screenings, over-the-counter products, personal care items, and convenience groceries. With continued expansion of healthcare offerings—such as minute clinics and telehealth—CVS remains a highly relevant and essential destination for consumers of all demographics.
Lease Structure
The property is encumbered by an absolute NNN lease. Under this structure, the tenant is fully responsible for all expenses—property taxes, insurance, land and building maintenance, roof and structure—resulting in a true passive-income asset for the owner. CVS leases typically feature long-term commitments and multiple renewal options, ensuring consistent cash flow well into the future.
Peoria Market Overview
Peoria is a well-established and growing suburb located northwest of Phoenix in the Greater Phoenix metropolitan area. With a population exceeding 190,000, the city offers a mix of residential neighborhoods, active adult communities, retail centers, and recreational amenities—such as Lake Pleasant and regional parks. The local economy is supported by healthcare, education, retail, hospitality, and service industries.
Demographics & Consumer Demand
Peoria’s population is diverse, comprising families, professionals, retirees, and active adults, with a median household income above the national average. The area continues to experience population growth and residential development, yielding sustained demand for essential healthcare access and retail services. CVS is strategically positioned to attract high-frequency visitation across multiple consumer segments.
Essential Retail Role
As a provider of prescription services, vaccinations, and convenience items, CVS is a daily destination for many Peoria residents. Its strong brand recognition and trusted presence make it an indispensable part of the city’s retail and healthcare infrastructure. The site benefits from excellent visibility and accessibility, contributing to consistent foot traffic and customer loyalty.
Tenant Credit & Investment Profile
CVS Health is an investment-grade, publicly traded company with a national footprint and robust operational performance. Its strategic integration of retail and health services positions it for long-term stability and relevance. For investors, this translates into a secure, low-risk, passively managed asset with a credit-backed tenant and reliable income.
Investment Highlights