CVS (DARK) | $8,287,500 | 3.91% CAP
The Deltondo Team of Marcus & Millichap is pleased to present for sale our newest listing of a CVS that is dark in Torrance, CA. This is the first time in 34 years this property is coming to market and should have every developer or value-add investor taking a look. Sav-On / CVS has operated at this location since 1974 and they closed their business at this location at the beginning of May. With 1.5 years remaining on their lease term, it allows an investor a passive income stream while searching for a new tenant or going through the redevelopment process. The property consists of a 25,500 square foot building sitting on a 2.19 acre lot fronting along Redondo Beach Boulevard that oversees 21,500+ VPD. The strength of location is evidenced by the national retailers in the area as well as the surrounding landmarks. Some of the landmarks include being in close proximity to some of southern California’s nicest beaches which include Redondo, Hermosa and Manhattan beach, right next to the South Bay Galleria – a 1 million square foot retail mall with major plans for redevelopment in the near future, and El Camino College which has a student population of 33,000.