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34175329
34175330

5212 Antoine Drive, Houston, TX 77092

BP
CA 02106051
Matthews
Listed by Matthews
$3,666,667
0 days on market
Updated 0 days ago

CVS

Details
Property Type Retail
Square Footage 11,280
Units 1
Cap Rate 6.00%
NOI $220,000
Price per SqFt $286
Year Built 1999
Acreage 1.290
Ground Lease No

About This Property

Investment highlights

Brandon Perez (in conjunction with Matthews Real Estate Investment Services, Inc., a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code).

• Early Lease Extension – CVS has operated here since 1999and signed a brand new 10 year lease extension in 2024, further showing their commitment to the location

• Huge Sales Figures – Tenant sales north of 13,000,000; showing solid YoY increases. Contact broker for more details

• Long Term Commitment – CVS has just over ±7.5 years remaining on their lease, with three (3) five-year option periods. There are 5% rental increases at the start of each option period.

• Dense Houston Location – Located at the signalized intersection of Antoine Dr. and Pinemont Dr., this corner sees north of ±42k VPD and has a one-mile population of over 20k and over 144k in a three-mile radius.

• Long Term Operating History – CVS has operated at this location for 25+ years.

• Passive Investment – This is a NNN lease, with maintenance, insurance, and taxes being the responsibility of the tenant.

• Investment Grade Tenant – Lease is corporately guaranteed by CVS (NYSE: CVS), an investment-grade tenant that operates around 9,000 stores throughout the country (S&P: BBB).

• Growing Population – The property is surrounded by multiple large-scale apartment complexes and highly dense neighborhoods. Population growth in this area of Houston has seen consistent 6%–7% annual growth.

Listing Contacts

BP
CA 02106051
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$220,000.00
$18,333.33/mo

Valuation Metrics

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DSCR
6%
Cap Rate
6%
ROI

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Additional Information

Name
Patrick Graham
License
528005, 9005919 (TX)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
2699 Howell St., Suite 400, Dallas, TX 75204
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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