CVS Pharmacy
18+ Yrs Remaining Absolute NNN | No Rent Holiday | Affluent Austin Suburb
Marketing description
Cushman & Wakefield is pleased to present a 15,713± square foot, freestanding CVS PHARMACY retail store with a drive-thru, ample parking on site and adjacent parking lot, located in Georgetown, Texas, with almost 19 years of primary lease term remaining.
The CVS property is located on the northwest corner of the high traffic intersection of South Austin Avenue and West University Avenue – one of the premier intersections in Georgetown in one of the fastest growing regions in Texas. South Austin Avenue is a primary north/south corridor in Georgetown, with traffic counts of approximately 14,800 VPD, and West University Avenue is a major east/west thoroughfare with 35,489 VPD. Surrounding retailers include Wells Fargo, Golden Chick, Exxon, Little Caesars, and First Texas Bank, along with a variety of other national and regional tenants. Directly west of the property along W University Ave is a dense retail corridor that includes Wolf Ranch Town Center, a dominant shopping center anchored by Target, T.J. Maxx, Kohl’s and Best Buy, among other national retailers, dining, and entertainment options that drive consistent consumer traffic to the area. Other notable retailers on W University Ave include H-E-B, Academy Sports + Outdoors, Hobby Lobby, Floor & Décor, and ALDI, to name a few. South Austin Avenue is also a busy commercial corridor through Georgetown, providing direct access to residential neighborhoods and retail hubs, while West University Avenue connects the property with Interstate 35 and downtown Austin and the greater Central Texas region.
Listed in conjunction with Texas licensed broker Cushman & Wakefield U.S., Inc.
Investment highlights
- Absolute NNN, corporately guaranteed lease with over 18 years remaining (no rent holiday), and rare 10% rent increases at the start of each renewal option
- Hard corner site with drive thru and ample parking strategically situated on the high traffic, signalized intersection of South Austin Ave and West University Ave with multiple points of ingress/egress
- Excellent demographics with average household income over $138,000 and more than 102,000 population within 5 miles of the property
- CVS Health Corporation is ranked #5 on the Fortune 500 with $372.8 billion in 2024 reported revenues, and rated ‘BBB’ investment-grade by S&P
- CVS operates over 9,000 retail drugstores and over 1,000 healthcare clinics located in 50 states, Puerto Rico, and the District of Columbia
- High growth, affluent, infill North Austin suburb – one of the fastest growing areas in Texas
- Less than one mile east of Interstate 35 providing direct access to downtown Austin and the regional MSA
- West University Ave is the primary retail corridor in Georgetown with shopping destinations such a Wolf Ranch Town Center, anchored by Target, Kohl’s and T.J. Maxx, H-E-B, Academy Sports + Outdoors, Hobby Lobby, Floor & Décor, and ALDI, among numerous others
- Established pharmacy operation with strong store performance in high barrier-to-entry location – Placer.ai ranks the store 45 out of 636 CVS stores in Texas
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