6650 Lower Buckeye Rd, Phoenix, AZ 85043

Property Details for 6650 Lower Buckeye Rd

Lot size

2.25 lot acres

Property type

Retail properties & Spaces

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