6650 Lower Buckeye Rd Phoenix, AZ 85043

Property Details for 6650 Lower Buckeye Rd

Lot size

2.25 lot acres

Property size

13,013 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a fee-simple 13,013 square foot CVS Pharmacy located at 6650 W Lower Buckeye Rd, Phoenix, AZ 85043. The property sits on a 2.25-acre lot at a signalized intersection with over 36,000 vehicles passing daily. Benefiting from an absolute NNN lease with a credit-rated corporate guarantor (CVS Pharmacy), this investment boasts a 7.00% cap rate and a strong NOI of $459,000. The lease, originally signed in 2007 for 25 years, has over 7.2 years remaining on the initial term, with ten 5-year renewal options. The property enjoys excellent visibility and is strategically positioned near major distribution centers, including a one-million-square-foot Amazon facility. The surrounding area is densely populated, with over 282,000 residents within a five-mile radius. The asking price is $6,557,189, translating to $503.90 per square foot. This is a rare opportunity to acquire a stable, high-performing retail asset backed by a financially sound tenant in a prime location. The property's strong tenant, location, and lease terms make it an attractive investment for discerning buyers seeking long-term, passive income.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Longitude

-112.203

Latitude

33.4234