CVS Pharmacy Ground-Leased Retail
17136 MAGNOLIA ST, Fountain Valley, CA 92708
For Sale
Contact for pricing
An absolute NNN lease assigns operating expenses and maintenance to CVS, with approximately 10 years of contractual term remaining.
Property Size25,500 SF
Lot Size2.30 Acres
Price / SF$380.39
Days on Market43
Property Features for 17136 MAGNOLIA ST
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Corner Location
Anchor Co-Tenants
Highway Access
Additional Details
Tenant in Place
Building Details
Buildings
Tenancy
Listing Agency:
Colliers - Los Angeles - Downtown, California
Listed By:
Gabe Kadosh · License CA #01486779
Source:
Crexi
Added: Sep 29
Changed: Nov 9
Last Checked: Nov 10 at 9:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers - Los Angeles - Downtown, California
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Investment Insights
Based on property information with market context.
The offering is the fee-simple interest in a 2.3-acre site occupied by a CVS Pharmacy under an absolute NNN ground lease. The approximately 25,500-square-foot building and premises are maintained at the tenant’s expense, with CVS responsible for operating costs. The lease has approximately 10 years remaining, following a recent five-year extension, and includes one additional five-year extension option with a 10% rent increase.
The pharmacy is part of a grocery-anchored neighborhood center with ALDI as the anchor. Other tenants include U.S. Bank, Goodwill, UPS, Golden Spoon Yogurt, Circle K, Pizza Grill and Winchell’s. The property is at the signalized intersection of Warner Avenue and Magnolia Street in Fountain Valley, with access to the San Diego (405) Freeway.
The pharmacy is part of a grocery-anchored neighborhood center with ALDI as the anchor. Other tenants include U.S. Bank, Goodwill, UPS, Golden Spoon Yogurt, Circle K, Pizza Grill and Winchell’s. The property is at the signalized intersection of Warner Avenue and Magnolia Street in Fountain Valley, with access to the San Diego (405) Freeway.
Key Highlights
- 2.3‑acre fee‑simple interest in a ground‑leased site
- CVS occupies an approximately 25,500 SF building
- Absolute NNN ground lease assigns operating costs and maintenance to CVS
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$579,368
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,587,360
$11.6M
Cap Rate 7%
$8,276,686
$8.3M
Cap Rate 9%
$6,437,422
$6.4M
Market Conditions
NOI Build-Up for 25,500 SF
Gross rent
$856.8K $33.60/SF
− Vacancy
−$29.1K −$1.14/SF
EGI
$827.7K $32.46/SF
− OpEx
−$248.3K −$9.74/SF
NOI
$579.4K $22.72/SF
Area
Orange County, CA
Vacancy
3.40%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,587,360
Cap Rate 7%
$8,276,686
Cap Rate 9%
$6,437,422
Alternative Uses
Best Use
Retail
$8.28M
$7.24M – $9.66M
NOI $579,368 @ 7.0% cap · market cap 5.97%
Second Best
Specialty Retail
$8.19M
$7.17M – $9.56M
NOI $573,495 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$8.56M
$7.49M – $9.99M
NOI $599,546 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
807
Businesses Nearby
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Business Placement
Demographics for 92708, CA
57,192
Population
19,250
Households
3
Avg Household Size
45
Median Age
45%
College-Educated
90%
High-School Grad
9.1 sq mi
ZIP Area
6,285
Density / Sq Mi
$111,797
Median Household Income
$51,944
Median Earnings
$2,507
Median Rent
$1,018,600
Median Home Value
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Market
Properties on Market for NNN properties in Orange County
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
NNN property - An absolute NNN lease assigns operating expenses and maintenance to CVS, with approximately 10 years of contractual term remaining.
Where is this nnn property located?
The property is located at 17136 MAGNOLIA ST Fountain Valley, CA.
What is the asking price?
The asking price for this property is $9,700,000.
What are key features of this property?
This property features: 2.3‑acre fee‑simple interest in a ground‑leased site; CVS occupies an approximately 25,500 SF building; Absolute NNN ground lease assigns operating costs and maintenance to CVS
