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Views: 155 DOM: 416 Updated: 09.27.24 Posted: 09.26.23 Status: Active

Summary

Price $6,025,500
Built/Renov 2005
Tenant CVS Pharmacy
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,126
Lease Start 01-09-2006
#Units 9,395
Price/SF $496.91
Expiration 01-31-2031
Tenant Type Pharmacy
NOI $421,784
R. Term 6.2
Ownership Fee Simple
Rent/SF $34.78
Increases 11.0%/8/yrs
Pop 5Mi 461,655
Lot/AC 1.19
Options 10/5yrs/11%
AHHI 5Mi $131,556

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 by CVS Corporation (NYSE: CVS)

Location Description

This 24-hour location with drive-thru is positioned at the hard corner, signalized intersection of Katy Freeway and Chimney Road (23,376 VPD), with excellent egress and ingress. The site benefits from neighboring tenants including The Home Depot, IKEA, Walmart, Starbucks and more, creating a strong consumer drive to the immediate trade area. There are roughly 461,655 residents within five...

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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 : 11,163 136,384 474,346
2023 Total Population : 11,071 132,144 461,655
2023 Employed Civilian Pop : 5,968 71,862 261,790
2023 Total Businesses : 771 13,821 37,905
2023 Average Household Income : $ 200,310 $ 147,092 $ 131,556
2023 Total Consumer Spending : $ 771 M $ 7359 M $ 23230 M
2023 Median Age : 41 39 37
2023 Total Households : 4,596 58,148 204,459
2023 Pop Age 25+: Bachelor's Degree : 3,241 32,910 110,051
2023 Average Home Value : $ 1,008,138 $ 760,523 $ 618,642
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Wirt Rd Katy Fwy 2008 19,742 0.04 mi
Chimney Rock Road Kingsbrook Rd 2019 27,915 0.11 mi
Wirt Rd Katy Fwy 2010 25,066 0.13 mi
Wirt Rd Kingsbrook Rd 2001 22,550 0.18 mi
Chimney Rock Rd Wirt Rd 2013 29,579 0.28 mi
I- 10 Wirt Rd 2005 224,750 0.31 mi
Memorial Dr PkLaureate Dr 2014 15,554 0.38 mi
Memorial Dr Longwoods Ln 2008 22,672 0.39 mi
Memorial Drive Longwoods Ln 2019 13,553 0.39 mi
Memorial Dr Lindenwood Dr 2014 15,565 0.40 mi

Listing Broker

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