4657 Chandler Blvd Phoenix, AZ 85048-0424

Property Details for 4657 Chandler Blvd

Year built

2003

Construction

CONCRETE

Lot size

1.47 lot acres

Property size

13,375 SF

Zone code

C-2

Property type

Drug stores

APN

307-03-890

APU

30703890

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, 13,434-square-foot CVS Pharmacy located in Phoenix, Arizona. The property, built in 2004, benefits from a rare 20-year absolute NNN lease (commencing February 16, 2021, and expiring February 28, 2041), with four additional five-year renewal options. The lease includes 5% rent bumps in option periods and features a corporate guarantee from CVS Health Corp. There are no landlord responsibilities. Situated on a 1.468-acre lot at the southwest corner of 48th Street and Chandler Boulevard, this Class A property enjoys a prime location, a block from Interstate 10, within the Foothills Corporate Park, and surrounded by strong co-tenants including Kohl's, AutoZone, Starbucks, and numerous other retail and dining establishments. The property boasts 100% occupancy and a strong net operating income (NOI) of $330,000, resulting in a 4.25% cap rate and a price per square foot of $578.01. The location is in a highly desirable area with an average household income exceeding $134,000. This investment offers exceptional long-term stability and significant return potential, backed by a publicly traded, investment-grade tenant. The property's strategic location, long-term lease, and strong tenant make it an attractive addition to any portfolio. The asking price is $7,765,000.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Longitude

-111.981

Latitude

33.3047

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments