CVS Drug Store
For Sale
Contact for pricing
3610 W Anthem Way, Anthem, AZ 85086
Commercial-zoned drug store property in an established master-planned community setting.
Property Size16,784 SF
Price / SF$324.48
Days on Market175
Property Features for 3610 W Anthem Way
General Information
Standard status
Active
Size
16,784 SF
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$354,000
Building Details
Year Built
2001
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
SRS National Net Lease Group
Listed By:
Chuck Klein · License #CA License No. 00947314
Source:
Crexi
Added: Mar 9
Changed: Aug 30
Last Checked: Aug 30 at 4:34AM
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 SRS National Net Lease Group
Investment Insights
Based on property information with market context.
The property is identified as a CVS drug store asset at 3610 W Anthem Way in Anthem, Arizona. The building contains 16,784 square feet and was constructed in 2001.
Commercial zoning supports the property's retail-oriented classification. Its location within the Anthem master-planned community provides a defined setting for this specialty retail asset.
Commercial zoning supports the property's retail-oriented classification. Its location within the Anthem master-planned community provides a defined setting for this specialty retail asset.
Key Highlights
- 16,784‑square‑foot drug store property
- Built in 2001
- Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$282,475
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,649,500
$5.6M
Cap Rate 7%
$4,035,357
$4.0M
Cap Rate 9%
$3,138,611
$3.1M
Market Conditions
NOI Build-Up for 16,784 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$402.8K $24.00/SF
− Vacancy
−$26.2K −$1.56/SF
EGI
$376.6K $22.44/SF
− OpEx
−$94.2K −$5.61/SF
NOI
$282.5K $16.83/SF
Area
Maricopa County, AZ
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,649,500
Cap Rate 7%
$4,035,357
Cap Rate 9%
$3,138,611
Alternative Uses
Best Use
Specialty Retail
$4.04M
$3.53M – $4.71M
NOI $282,475 @ 7.0% cap · market cap 5.19%
Second Best
Retail
$3.02M
$2.65M – $3.53M
NOI $211,619 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$5.19M
$4.54M – $6.06M
NOI $363,422 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,037
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85086, AZ
43,223
Population
17,213
Households
2.5
Avg Household Size
45
Median Age
42%
College-Educated
97%
High-School Grad
61.3 sq mi
ZIP Area
705
Density / Sq Mi
$118,543
Median Household Income
$62,626
Median Earnings
$2,177
Median Rent
$554,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drug store - Commercial-zoned drug store property in an established master-planned community setting.
Where is this drug store located?
The property is located at 3610 W Anthem Way Anthem, AZ.
What is the asking price?
The asking price for this property is $5,446,000.
What are key features of this property?
This property features: 16,784‑square‑foot drug store property; Built in 2001; Commercial zoning
