Tulsa CVS | Accelerated Deprecation Benefits No Rent Holiday
Retail | 6.25% CAP | 12,290 SqFt
Marketing description
We are pleased to offer for sale the CVS Pharmacy property located at 6116 S Lewis Avenue, Tulsa, OK 74316 (the “Property”). CVS has been successfully operating at this location since 2015 and has over 14 years of firm term remaining before the option periods. The lease is structured as an absolute triple net (NNN) lease, with no landlord responsibilities whatsoever.
The Property benefits from an accelerated depreciation incentive due to it being a Qualified Indian Reservation Property (QIRP), providing investors with a unique tax advantage strategy for a drugstore asset. The site is located less than 2 miles from Oral Roberts University, a four‑year institution with over 7,000 students, and supported by a dense, affluent population base of approximately 204,210 residents within five miles, with average household incomes of approximately $94,000.
Directly across the street is Southern Hills Country Club, a nationally recognized private golf course that has hosted 17 major championships, including the 2022 PGA Championship. Additionally, the Property is located less than 0.5 mile from The Villages at Southern Hills, a senior‑living and skilled‑nursing community, further reinforcing long‑term demand drivers for pharmacy services.
Listed in conjunction with Brian Brockman, Bang Realty - Oklahoma Inc, 513-898-1551, [email protected], OK DRE Lic. 177814.
Investment highlights
- The property qualifies for accelerated depreciation due to it being a Qualified Indian Reservation Property (QIRP).
- This CVS lease has over 14 years of guaranteed lease term before the tenant's next option to renew.
- The current lease runs through January 31, 2041 with no landlord responsibilities whatsoever.
- Less that 2 miles from Oral Roberts University, a 4-year university with over 7,000 students.
- Approximately 204,210 residents within a 5-mile radius with the average household income ±$94K.
- This CVS is located directly across the street from Southern Hills Country Club, a privately owned golf course that has hosted 17 major championships including the 2022 PGA Championship.
- Located less than 0.5 mile from The Villages at Southern Hills, a senior‑living and skilled‑nursing community.
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