18460 N 7th St, Phoenix, AZ 85022

This is an opportunity to acquire a fee simple interest in an absolute NNN leased CVS Pharmacy investment property in Phoenix, Arizona. CVS has operated at this location since 2005 and has a pending 10-year lease extension. The tenant will have 8 (5-year) options to extend. The lease features 10% rental increases at the beginning of each option period. The lease is absolute NNN with zero landlord responsibilities. The store operates daily from 7:00 AM to 11:00 PM, with the pharmacy open from 8:00 AM to 8:00 PM. The property supports nearly 385,000 customers per year and ranks in the top 82nd percentile of all CVS locations nationwide. The CVS Pharmacy is equipped with a drive-thru and is located at the signalized intersection of N. 7th Street (27,000 VPD) and E. Union Hills Drive (22,900 VPD). The property benefits from connectivity to Pima Freeway / State Highway 101 (225,600 VPD). The property is positioned near national and credit retailers and daily-needs destinations including Safeway, Fry’s, Ross Dress for Less, Walgreens, Starbucks, Dunkin’, Aldi, AT&T, and Planet Fitness. The asset is also in close proximity to HonorHealth Deer Valley Medical Center (204 beds), along with nearby medical offices and outpatient providers. The property benefits from accessibility to Phoenix Deer Valley Airport, which recorded approximately 344,393 aircraft operations (flights) in Calendar Year 2024. The surrounding 5-mile trade area is supported by approximately 298,368 residents with an average household income of approximately $112,199. The property size is 13,055 square feet.