Listed by NNN Retail Advisors
$1,542,000
CVS (Leasehold ) | 4.70% Assumable Rate
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 12,955
Net Rentable (SqFt) 12,955
Cap Rate 9.00%
Occupancy 100%
Tenancy Single
Brand/Tenant CVS Pharmacy
Lease Type NNN
Lease Term 25.2
Lease Expiration 01/31/2039
Remaining Term 12.7
Lease Options 7-5 Year Options
Year Built 2012
Acreage 1.900
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 12/01/2013
Ground Lease No
$1,542,000 | 4.70% - Assumable, Zero Cash Flow, Self Amortizing Loan | $450,000 Cash Required
Marketing description
- CVS Pharmacy (Leasehold Interest) Approximately 12 years remaining on the initial lease term - Assumable loan completely paid off by 2036, with upside to collect free cash flow (no loan) over the remaining 9-5 year options, including 7 (seven) options at "market rent".
- Absolute NNN lease structure — tenant responsible for taxes, insurance, maintenance, CAM, utilities, and ground rent
- Fully Self-Amortizing Loan | Full Principal Paydown | Below-Market Assumable Debt (4.70%) - Loan is completely paid off on January 31st of 2036.
- Located in The Woodlands — one of the most affluent and sought-after submarkets within the Houston MSA | Average Household Income within 1 mile exceeds $187,000
- Strategically positioned at the southwest corner of FM 1488 & Kuykendahl Rd with combined traffic counts exceeding 90,000 vehicles per day
- Corporate Guarantee – CVS Health (NYSE: CVS), Investment-grade tenant with S&P BBB credit rating
Investment highlights
NNN Retail Advisors is pleased to offer a CVS Pharmacy leasehold interest in The Woodlands, Texas, featuring approximately 12 years remaining on the lease term and an absolute NNN structure backed by CVS Health (NYSE: CVS), an investment-grade tenant with an S&P BBB credit rating. The investment includes attractive below-market assumable financing at 4.70% with a fully self-amortizing loan and full principal paydown by January 31st, 2036. Strategically located at the signalized corner of FM 1488 & Kuykendahl Road with traffic counts exceeding 90,000 vehicles per day, the property sits within one of Houston’s most affluent submarkets with average household incomes exceeding $187,000 within one mile.
Listing Contacts
Listed by NNN Retail Advisors
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