6588 Foothill Blvd - Drug Store FOR SALE


Tujunga, CA 91042
$11,625,000 USD
818-546-1212
6588 Foothill Blvd, Tujunga, CA for Sale
$11,625,000 USD
Drug Store - FOR SALE
1/2
null | 4.75% Cap Rate

6588 Foothill Blvd
Tujunga, CA 91042


HIGHLIGHTS

  • Long-term absolute NNN lease - 5% cap rate
  • Four (4) 5-year options remain w/ 10% increases every 5 years
  • Almost zero landlord responsibilites in the well-maintained prominent Tujunga Canyon Center
  • Anchor tenant with drive-thru pharmacy - adjacent retailers include McDonald's, Dollar Tree, IHOP, WINGSTOP
  • Centrally located in Tujunga on the major signalized corner of Foothill and Tujunga Canyon Blvd.
  • Dense surrounding population – high traffic exposure to over 33,000 cars per day surrounded by national retailers

OVERVIEW

Specialized Realty proudly presents the opportunity to purchase a single tenant retail asset leased by CVS Pharmacy in the prominent Tujunga Canyon Center in the heart of Tujunga, California. 6588 Foothill Blvd. is a single-tenant, absolute NNN lease with a corporate guaranty and almost zero landlord obligations in a center with well-established national tenants. The current lease has 4 years remaining (expiring March 2028) with four (4) five (5) year renewal options. Current NOI - $551,911.92 Cap Rate – 4.75% Increases – 10% every five years throughout the option periods starting in 2028, 2033, 2038, and 2043 Price per /SF - $788.40 CVS Pharmacy w/ drive-thru is the anchor tenant occupying 14,745 SF on a 1.65 acre parcel zoned LAC2 (APN 2564-012-039) in a center featuring several national retailers which include McDonald's, IHOP, WINGSTOP, and Dollar Tree. Nearby national and regional major retailers include In-N-Out, Public Storage, PetSmart, Chase, Chevron, 7-Eleven, Albertsons, Harbor Freight, Big 5, and Smart & Final. The subject benefits from its location on the major thoroughfare running from Sunland to La Canada at the signalized intersection of Tujunga Canyon and Foothill Blvd. with exposure to over 33,000 vehicles per day. The asset is located within a diverse retail landscape & affluent demographic with a median household income over $92,000 within a 3-mile radius.

FOR SALE DETAILS

PRICE

$11,625,000 USD

PRICE/SF

$788 USD /SF

CAP RATE

4.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

CROSS STREETS

Tujunga Cyn

LAND ACRES

1.65 AC

LAND SF

71,874 SF

ZONING

C2

APN/PARCEL ID

2564-012-039

ASK ABOUT THIS PROPERTY

Artak DovlatyanSpecialized Realty, Inc.More Info
818-546-1212

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Artak DovlatyanSpecialized Realty, Inc.More Info
818-546-1212

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.