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Views: 157 DOM: 434 Updated: 09.24.24 Posted: 09.26.23 Status: Active

Summary

Price $4,048,400
Built/Renov 2005
Tenant CVS Pharmacy
Cap Rate 6.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,368
Lease Start 01-09-2006
#Units 9,395
Price/SF $302.84
Expiration 01-31-2031
Tenant Type Pharmacy
NOI $273,265
R. Term 6.2
Ownership Fee Simple
Rent/SF $20.44
Increases 11.0%/8/yrs
Pop 5Mi 42,249
Lot/AC 1.33
Options 10/5yrs/11%
AHHI 5Mi $105,077

Lease Highlights

  • CVS has been operating in this location since 2006
  • Tenant currently has 6+ years remaining on the current lease term with 10 (5-year) options to extend
  • Lease features 11% rental increase during the first option and FMV for remaining options
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

This CVS, equipped with a drive-thru, is strategically located at the intersection of East Highway 377 and Hill Blvd., which see a combined average of 30,498 vehicles passing by daily. The property is positioned along a dense retail corridor, with other major nationals including Walmart, Aldi, Dollar Tree, and more, creating a strong consumer drive to the area. There are roughly 42,249 people...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

CVS Pharmacy, Inc. is an American retail corporation and is the largest pharmacy chain in the United States by number of locations and total prescription revenue. CVS sells prescription drugs and...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,335 24,350 45,430
2023 Total Population : 4,886 22,629 42,249
2023 Employed Civilian Pop : 1,783 9,300 18,256
2023 Total Businesses : 395 1,273 1,739
2023 Average Household Income : $ 108,070 $ 99,773 $ 105,077
2023 Total Consumer Spending : $ 216 M $ 826 M $ 1576 M
2023 Median Age : 60 50 48
2023 Total Households : 2,334 9,437 17,158
2023 Pop Age 25+: Bachelor's Degree : 756 3,787 7,570
2023 Average Home Value : $ 350,810 $ 319,277 $ 313,551
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Old Cleburne Rd E Hwy 377 2004 5,660 0.33 mi
East US Highway 377 E Hwy 377 2021 36,135 0.39 mi
E Hwy 377 Plz Dr 2016 33,864 0.39 mi
E Hwy 377 Plz Dr 2004 40,340 0.42 mi
East Pearl Street Pauline St 2021 8,907 0.67 mi
Loop 567 Richmond Rd 2021 8,384 0.85 mi
TX 360 Hwy 377 Bus 2020 43,885 0.93 mi
East US Highway 377 Corporate Dr 2021 49,870 0.93 mi
East Pearl Street N Brazos St 2021 8,687 0.96 mi
East Pearl Street N Brazos St 2020 8,823 0.96 mi

Listing Broker

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