1063 C St | Galt, CA 95632
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1063 C St
Galt, CA 95632
CVS Pharmacy - Absolute NNN Lease · Retail Property For Sale
Investment Highlights
- Absolute NNN lease with no landlord maintenance obligations, no rent holiday, and solid fundamentals with relatively low rent ($10.35/SF/YR)
- Established CVS Pharmacy operation with liquor sales since 1999
- High growth, affluent trade area with numerous new residential communities recently built and currently under construction
- Favorable 10-year option periods with 5% rent increases in the first and third options
- Large 2.89-acre lot strategically situated within Galt Plaza with over 12,400 VPD passing on C street and adjacent to HWY 99 (78,000 VPD)
- Excellent demographics with an average household income over $115,600 and over 30,000 people within 3 miles of the property
Executive Summary
Cushman and Wakefield is pleased to present for sale a 31,456± square foot freestanding CVS Pharmacy retail store on 2.89 acres located in Galt Plaza shopping center in Galt, California leased until May 31, 2030 with over 6 years of term remaining on an absolute NNN lease (no rent holiday). The property is an established location for CVS since 1999 with liquor sales, solid fundamentals with low rent/SF of $10.35, and favorable 10-year option periods.
The CVS Pharmacy property is part of Galt Plaza shopping center adjacent to the on/off ramp of Highway 99, with traffic counts of 78,000 VPD. Neighboring tenants in Galt Plaza include Save Mart, Ace Hardware, Taco Bell, Subway, Carl’s Jr., Round Table Pizza, Bank of America, among many others. Galt High School (1,078 students) neighbors the property to the north, and the surrounding area features a bustling retail corridor further surrounded by residential areas. Demographics are excellent with the average household income exceeding $115,600 and a population of over 30,000 within three miles. Located 13 miles south of Elk Grove and 28 miles south of Downtown Sacramento, the CVS property serves Galt residents and commuters along Highway 99.
The CVS Pharmacy property is part of Galt Plaza shopping center adjacent to the on/off ramp of Highway 99, with traffic counts of 78,000 VPD. Neighboring tenants in Galt Plaza include Save Mart, Ace Hardware, Taco Bell, Subway, Carl’s Jr., Round Table Pizza, Bank of America, among many others. Galt High School (1,078 students) neighbors the property to the north, and the surrounding area features a bustling retail corridor further surrounded by residential areas. Demographics are excellent with the average household income exceeding $115,600 and a population of over 30,000 within three miles. Located 13 miles south of Elk Grove and 28 miles south of Downtown Sacramento, the CVS property serves Galt residents and commuters along Highway 99.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
32,196 SF
Building Class
C
Year Built
1991
Price
£3,665,168
Price Per SF
£114
Net Initial Yield
7%
NOI
£256,562
Tenancy
Single
Number of Floors
1
Loading Docks
1 Exterior
Building FAR
0.26
Lot Size
2.89 AC
Zoning
C - Commercial
Parking
120 Spaces (3.72 Spaces per 1,000 SF Leased)
Frontage
206 ft on C St
Amenities
- Pylon Sign
- Signage
- Roof Lights
- Drive Thru
- Storage Space
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 150-0530-005 | Improvements Assessment | £2,386,756 |
| Land Assessment | £1,193,374 | Total Assessment | £3,580,130 |
PROPERTY TAXES
Parcel Number
150-0530-005
Land Assessment
£1,193,374
Improvements Assessment
£2,386,756
Total Assessment
£3,580,130
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