CAP Rate: 5.25%
Net Operating Income: $469,751
Lot Size: 2.39 AC
Year Built: 1977
This is a rare CVS/pharmacy net leased offering in Upland, California. The lease calls for minimal landlord obligations with ten 5 year options. The asset is well situated on a major commercial thoroughfare and is nearby Mountain Square Shopping Center with national retailers including The Home Depot, Staples, and Party City.
Upland is a city in San Bernardino County, California. The municipality is located at an elevation of 1,242 feet (379 m). As of the 2010 census, the city had a population of 73,732, up from 68,393 at the 2000 census. It was incorporated on May 15, 1906, after previously being named North Ontario. Upland is located at the foot of the highest part of the San Gabriel Mountains. The city is part of the Inland Empire, a metropolitan area situated directly east of the Los Angeles metropolitan area. Interstate 10 runs along Upland’s boundary with Ontario, and connects Upland with Los Angeles to the west and San Bernardino the east. The east-west running Interstate 210 runs through the northern part of Upland, connecting to Pasadena to the west and San Bernardino to the east.