929 Sierra St | Kingsburg, CA 93631
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- LoopNet Team
929 Sierra St
Kingsburg, CA 93631
Retail Property For Sale
Investment Highlights
- Recent Lease Extension – CVS has 13+ years remaining on an absolute NNN lease, with 50 additional years of options
- Absolute NNN Lease – The tenant is fully responsible for operating expenses, maintenance, and repairs for the entire building and site
- Nearby Retail Synergy – Nearby national tenants include McDonald’s, O’Reilly Auto Parts, Walgreens, and more
- Below Market Rent – CVS is only paying $8.37 PSF/Year, well below the average rent for CVS in California
- Hedge Against Inflation – The lease offers very favorable 5% increases throughout the 10 option periods, steadily increasing the cash flow over time
- Nationally Recognized Investment Grade Tenant – Lease is fully guaranteed by CVS Health Corporation (S&P’s rated BBB)
PROPERTY FACTS
Property Type
Retail
Property Subtype
Drug Store
Building Size
21,122 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
1999
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.26
Lot Size
1.90 AC
Zoning
CC - Central Commercial
Parking
50 Spaces (2.37 Spaces per 1,000 SF Leased)
Frontage
153 FT on 10th Ave
Amenities
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 394-220-16 | Improvements Assessment | $1,985,115 |
| Land Assessment | $744,415 | Total Assessment | $2,729,530 |
PROPERTY TAXES
Parcel Number
394-220-16
Land Assessment
$744,415
Improvements Assessment
$1,985,115
Total Assessment
$2,729,530
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