Highlights
•Current rent likely below market at $1.75/SF, adjusting to fair market value with all ten 5-year renewal options •Top-performing CVS – ranked in the top 6% nationwide per Placer.ai •Prime location in Orange County, CA •Average household income within 1 mile exceeds $179K •Absolute NNN corporate lease
Description
This exceptionally well-located CVS has been upgraded by the tenant with new HVAC, a Wellness Room (one of fewer than 100 nationwide used for CVS clinical trials), a recently added Minute Clinic and Health Hub, a full Beer and Wine section, and other enhancements. The store sits on a spacious 2.71-acre parcel in a prime, upscale Orange County location and operates 24 hours, with a larger footprint than a typical CVS. The absolute NNN lease is corporately guaranteed, with approximately six years remaining on the primary term and ten 5-year renewal options at fair market value, offering potential upside and inflation protection. According to Placer.ai, this location ranks among the top 6% of CVS stores nationwide. The surrounding shopping center, across from the City of Mission Viejo offices, is slated for substantial enhancement and includes other high-profile tenants such as Trader Joe’s, Panda Express, Carl’s Jr., California Pizza Kitchen, Panera Bread, Chipotle, and Walgreens. The seller will provide a dollar-for-dollar credit for any free rent holiday.
Listing Details
- Cap Rate
4.25%
- Tenancy
Single
- Space Type
retail
- Sub Category
pharmacy
- Date Listed
1/19/2026
- Broker/Agent Co-op
Yes
- Investment Type
Net Lease
- Net Operating Income
$512,571
- Ground Lease
No
- Net Rentable
24,318 SF
Property Specifics
- Property Name
CVS Top 6% Store - Abs NNN - Recent Remodel
- No of Buildings
1
- Year Built
1975
- Building Size
24,318 SF
- Lot Size
2.71 Ac
- Year Renovated
2023