NNN pharmacy net lease investment analysis: CVS Health, Walgreens cap rates, credit ratings, and lease structure for passive investors.


17th April 2026 | by the Investment Grade Team
Parent Company Walgreens Boots Alliance (Private, Sycamore Partners) S&P/Moody’s Rating NR (Private) ‑ Ba3/BB‑ (Former) Sector Pharmacy / Drug Store US Locations 7,500 Cap Rate Range 8.6–9.5% Typical Lease Term 25 years Guarantee Type Corporate Stock Ticker WBA (Previously NYSE, Now Private) Annual Revenue $147.0B (FY2024, last public) Typical Price Range $2.5M–$6.0M Walgreens Business Overview…

17th April 2026 | by the Investment Grade Team
CVS NNN Net Lease Quick Stats Metric Figure Credit Rating(s) S&P: BBB (Negative, 12/31/24); Moody’s: Baa3 (Stable, 12/31/24); Fitch: BBB (Negative, 12/31/24) CVS Investment Grade Investment Grade Credit Rated Tenant 2025 Avg Cap Rate 6.44 % 10 + Year Cap 5.92 % Properties on Market 144 Average Sale Price 5.5 M USD (median) Rent Bumps…
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