Kidder Mathews has brought a rare investment opportunity to market: a high-performing CVS Pharmacy located in a historic East L.A. theater building. The ±22,576-square-foot property at 909 South Atlantic Boulevard is exclusively listed by Jay Martinez, Senior Vice President, and Sherwin Soumekh, Associate Vice President, for $11,000,000.
Originally built in 1927 as the Golden Gate Theatre, the building was a neighborhood movie palace designed in ornate Spanish Churrigueresque style by architects William and Clifford Balch. It became the first property in East L.A. to be listed on the National Register of Historic Places in 1982. After suffering damage in the 1987 Whittier Narrows earthquake, the building sat vacant for years before undergoing a carefully executed adaptive reuse. In 2012, the structure was transformed into a CVS Pharmacy, with its historic interior elements—including the proscenium arch, balcony, and ceiling—thoughtfully preserved.
Now operating as one of the top 1% performing CVS locations nationwide, the property is offered as an absolute NNN leased investment with over 12 years remaining on the initial term and eight five-year renewal options. The lease is backed by a corporate guarantee from CVS Health, making it an attractive opportunity for investors seeking long-term income with minimal management responsibility.
“This property blends deep cultural roots with durable investment fundamentals,” said Martinez. “It’s a rare chance to own a nationally leased asset in a building that’s part of East L.A.’s architectural and community legacy.”
Set on over 42,600 square feet of land, the site includes a drive-thru, 47 parking spaces, and strong visibility along a major commercial corridor with more than 67,000 vehicles passing daily.
“Opportunities like this don’t come around often—this is one of the few retail assets in Los Angeles where legacy and performance go hand-in-hand,” added Soumekh.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 20 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 58 million square feet of space, and conducts 2,400 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
