6588 Foothill Blvd
14,745 SF Retail Building Tujunga, CA 91042 $11,625,000 ($788.40/SF) 4.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-term absolute NNN lease - 5% cap rate
- Almost zero landlord responsibilites in the well-maintained prominent Tujunga Canyon Center
- Centrally located in Tujunga on the major signalized corner of Foothill and Tujunga Canyon Blvd.
- Four (4) 5-year options remain w/ 10% increases every 5 years
- Anchor tenant with drive-thru pharmacy - adjacent retailers include McDonald's, Dollar Tree, IHOP, WINGSTOP
- Dense surrounding population – high traffic exposure to over 33,000 cars per day surrounded by national retailers
EXECUTIVE SUMMARY
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.
PROPERTY FACTS
AMENITIES
- Signage
- Signalized Intersection
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- 14,745 SF
- -
- Triple Net
- Mar 2028
CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | 14,745 SF | - | Triple Net | Mar 2028 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 2564-012-039 | Improvements Assessment | $3,525,039 |
| Land Assessment | $8,076,355 | Total Assessment | $11,601,394 |
CONTACTS
-
Artak Dovlatyan -
Albert Karchikian -
Vartan Tashchyan -
Sioneh Keshishi -
Specialized Realty, Inc.
