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.