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Views: 87 DOM: 157 Updated: 07.18.24 Posted: 04.04.24 Status: Active

Summary

Price $4,766,516
Built/Renov 2006
Tenant CVS Pharmacy
Cap Rate 5.77%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,725
Lease Start 01-01-2006
#Units 9,395
Price/SF $374.58
Expiration 01-31-2032
Tenant Type Pharmacy
NOI $275,256
R. Term 7.4
Ownership Fee Simple
Rent/SF $21.63
Increases 0.0%/0/yrs
Pop 5Mi 281,123
Lot/AC 1.65
Options 10/5yrs
AHHI 5Mi $92,204

Lease Highlights

  • CVS has been operating in this location since 2006
  • The tenant has 7+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

CVS Pharmacy is strategically located at the signalized, hard corner intersection of Fry Road and FM-529, with access to a combined daily traffic count of 81,396 vehicles. The property is surrounded by dense residential housing and well-known national tenants such as McDonald's, Family Dollar, Domino’s, 7-Eleven, Popeyes, and more. Additionally, essential medical facilities such as HCA Houston...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: CVS Pharmacy
  • Guarantor:Corp T and Rated
  • Company:CVS Health Corporation
  • # Units:9,395
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: CVS

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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 22,891 134,766 334,125
2023 Total Population : 22,084 127,579 317,158
2023 Employed Civilian Pop : 10,990 63,185 159,024
2023 Total Businesses : 253 1,617 4,690
2023 Average Household Income : $ 104,058 $ 110,062 $ 119,232
2023 Total Consumer Spending : $ 577 M $ 3533 M $ 9844 M
2023 Median Age : 31 32 33
2023 Total Households : 6,424 37,367 96,565
2023 Pop Age 25+: Bachelor's Degree : 2,708 18,460 53,423
2023 Average Home Value : $ 247,605 $ 278,022 $ 293,089
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Fry Road FM 529 Rd 2019 23,587 0.03 mi
Fry Rd FM 529 Rd 2014 26,314 0.06 mi
Fry Road FM 529 2019 16,972 0.18 mi
Fry Rd FM 529 Rd 2011 22,610 0.28 mi
Enchanted Creek Dr Mountaindale Dr 2011 1,370 0.31 mi
FM 529 Rd Haven Creek Dr 2011 14,320 0.48 mi
Arbor Creek Dr Wide Creek Dr 2011 3,820 0.51 mi
Settlers Village Dr FM 529 Rd 2011 2,780 0.52 mi
Haven Creek Dr FM 529 Rd 2011 840 0.53 mi
Arbor Creek Dr Enchanted Creek Dr 2006 3,260 0.58 mi

Listing Broker

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