| Purchase Price | $4,700,000 |
|---|---|
| Annual Rental Income | $320,000 |
| Cap Rate | 6.81% |
| Lease Term | 8 Years |
| City | Greeley |
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CVS Pharmacy – Greeley, CO (Denver MSA satellite)
This CVS Pharmacy property in Greeley, Colorado is secured by a long-term absolute triple-net lease with CVS Health, a Fortune 500, investment-grade tenant. Located in the high-growth northern corridor of the Denver metropolitan area, this single-tenant net lease investment offers a passive, dependable income stream in one of Colorado’s most demographically robust submarkets.
Tenant Overview – CVS Health
CVS Pharmacy is the retail division of CVS Health (NYSE: CVS), the largest pharmacy chain in the United States. The company operates more than 9,000 retail locations nationwide and provides a wide range of services including prescription fulfillment, over-the-counter healthcare products, vaccinations, MinuteClinic walk-in care, and general convenience retail.
As a tenant, CVS Health represents a best-in-class net lease investment. The company is investment-grade rated, publicly traded, and has proven its long-term commitment to retail locations across suburban and urban markets. CVS continues to evolve its model by integrating healthcare services, telemedicine, and insurance partnerships, positioning its stores as essential pillars of community wellness and healthcare access.
Lease Structure – Absolute Triple-Net
The CVS lease in Greeley is structured as an absolute triple-net lease, with the tenant responsible for all expenses including taxes, insurance, maintenance, and capital repairs. The property generates stable, long-term income with no landlord responsibilities. This structure is especially attractive for investors seeking 1031 exchange opportunities, retirement income, or long-hold portfolios requiring minimal asset management.
The lease features a long initial term and multiple renewal options, with built-in rental escalations providing a hedge against inflation. These characteristics make it well suited for passive investors focused on income security and portfolio diversification.
Greeley Market Overview – Northern Colorado Growth Corridor
Greeley is a key economic and residential hub in northern Colorado and is considered a satellite community within the broader Denver-Aurora-Lakewood MSA. Located in Weld County, Greeley is approximately 50 miles north of Denver and continues to see strong population and employment growth as part of the Front Range urban expansion.
With a population of over 110,000, Greeley serves as the economic anchor of its county and benefits from proximity to Fort Collins, Loveland, and the northern suburbs of the Denver metro area. The area is supported by strong infrastructure, a growing medical and education base, and one of the lowest unemployment rates in the state. Regional access via US Route 85 and Colorado State Highway 34 positions Greeley well for future residential and commercial development.
Demographic and Economic Drivers
Greeley’s growth is driven by several strong demographic and market factors:
This growing and diversified demographic supports long-term demand for healthcare, prescription services, and convenience retail—exactly the functions CVS stores are designed to serve. With strong regional population inflows and infrastructure investment, Greeley is positioned for continued growth in both residential and commercial real estate.
Retail Location and Site Dynamics
The CVS property is located in a high-traffic retail corridor with strong visibility and accessibility. It serves a wide trade area including families, working professionals, and retirees. The site is positioned near grocery stores, quick-service restaurants, schools, and medical offices, generating consistent daytime and evening foot traffic.
The retail fundamentals of the site include:
In secondary and tertiary suburban markets like Greeley, retail pharmacies like CVS benefit from being a central community destination. Their wide range of services and healthcare relevance ensures strong customer frequency and reliable store performance.
Tenant Strength and Investment Quality
CVS Health is among the most stable and creditworthy tenants in the net lease sector. The company maintains investment-grade credit ratings and reported over $300 billion in annual revenue. Its focus on healthcare integration and real estate consistency gives investors confidence in the long-term security of leased sites.
Key tenant strengths include:
Investment Highlights
Conclusion
The CVS Pharmacy in Greeley, Colorado presents an exceptional opportunity to acquire a high-quality, net lease investment in one of the fastest-growing regions of Colorado. Backed by an absolute NNN lease and guaranteed by a nationally recognized, investment-grade tenant, this asset offers stable income, minimal management, and strong positioning within a booming Sun Belt-adjacent growth corridor.
For buyers seeking passive real estate investments with reliable cash flow and credit tenancy in dynamic markets, this CVS property aligns with long-term value and income preservation strategies.