| Purchase Price | $4,750,000 |
|---|---|
| Annual Rental Income | $330,000 |
| Cap Rate | 6.95% |
| Lease Term | 7 Years |
| City | Mesa |
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CVS Pharmacy – Mesa, AZ (Phoenix MSA)
This CVS Pharmacy in Mesa, Arizona is secured by a long-term absolute triple-net lease with CVS Health, a Fortune 500, investment-grade tenant. Located within the booming Phoenix Metropolitan Statistical Area, this property represents a stable, passive income-producing retail asset in one of the fastest-growing regions in the country. With a zero-landlord-responsibility lease and corporate credit backing, this asset is ideal for 1031 exchange buyers and long-term net lease investors.
Tenant Overview – CVS Health
CVS Pharmacy is the retail pharmacy division of CVS Health (NYSE: CVS), the largest pharmacy chain in the United States, operating more than 9,000 retail locations nationwide. CVS stores serve as vital community healthcare hubs offering prescription fulfillment, immunizations, MinuteClinic walk-in medical services, over-the-counter medications, and everyday retail essentials.
CVS Health continues to innovate and expand its role in local healthcare delivery, integrating insurance, virtual care, and primary care services into its brick-and-mortar footprint. This evolution solidifies CVS’s long-term real estate presence and makes its stores core community assets in both urban and suburban markets.
Lease Structure – Absolute Triple-Net (NNN)
This Mesa location is backed by an absolute triple-net lease with no landlord responsibilities for property taxes, insurance, maintenance, or capital expenditures. The lease includes a long initial term, options for renewal, and built-in rent escalations that provide a hedge against inflation.
This investment structure is ideal for buyers seeking:
Absolute NNN lease investments like this one offer institutional-quality performance with low management burden, making them a preferred choice for private and professional investors alike.
Mesa Market Overview – Phoenix MSA
Mesa is the third-largest city in Arizona and a major economic, residential, and commercial hub within the Phoenix metropolitan area. With a population of over 500,000 residents and a thriving suburban landscape, Mesa is home to a diverse economy including healthcare, education, aerospace, and advanced manufacturing.
The broader Phoenix MSA is one of the fastest-growing metropolitan regions in the United States, fueled by business relocation, housing expansion, and in-migration from higher-cost states like California. The Phoenix region consistently ranks among the top U.S. metros for population growth, job creation, and residential development.
Mesa benefits from this explosive growth and offers a strong mix of affordable housing, quality schools, regional transportation infrastructure, and proximity to major employment centers in Tempe, Scottsdale, and central Phoenix.
Demographic and Economic Drivers
Mesa is supported by robust demographics and market fundamentals:
These traits contribute to consistent demand for pharmacy services and everyday convenience retail. With a growing need for walk-in healthcare, prescription access, and health-focused consumer goods, CVS stores in markets like Mesa experience sustained customer traffic and long-term operational viability.
Site Characteristics and Retail Corridor Strength
This CVS Pharmacy enjoys a highly visible and accessible location along a major arterial roadway in Mesa. The property benefits from strong traffic counts and is surrounded by established residential neighborhoods, schools, healthcare offices, and retail anchors.
Key site features include:
The visibility and strategic placement of the site make it a reliable destination for prescription refills, medical advice, and daily essentials—ensuring continued relevance and lease performance.
Tenant Credit Profile and Stability
CVS Health is a nationally recognized, investment-grade tenant with a long-standing record of lease fulfillment and site retention. The company maintains strong financials, generates more than $300 billion in annual revenue, and has become a trusted provider of both traditional and emerging healthcare services.
As a net lease tenant, CVS offers:
These factors make CVS one of the most desirable single-tenant net lease tenants in the commercial real estate sector.
Investment Highlights
Conclusion
The CVS Pharmacy in Mesa, Arizona is a high-quality, passive investment opportunity backed by an absolute NNN lease and corporate guarantee. Situated in the heart of a fast-growing Phoenix MSA suburb, the property offers demographic strength, location fundamentals, and lease security in one of the nation’s most active real estate markets.
For investors seeking stable cash flow, national credit tenancy, and passive ownership in a strong healthcare-aligned asset, this offering provides a compelling long-term opportunity.