Listed by Encore Real Estate Investment Services
$4,150,000
CVS (Dollar General Sublease)
Details
Property Type Retail
Sub Type Convenience Store, Grocery Store
Square Footage 12,900
Units 1
Cap Rate 8.74%
NOI $362,785
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, CVS Pharmacy
Lease Type Absolute NNN
Lease Term 25
Lease Expiration 09/29/2034
Remaining Term 11
Rent Bumps No
Lease Options No Options to Renew
Price per SqFt $322
Class A
Year Built 2009
Buildings 1
Stories 1
Acreage 1.470
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 09/30/2009
Ownership Fee Simple
Sale Condition 1031 exchange
8.06% Cap | Retail | 12,900 SF
Investment highlights
- Absolute Net Bond Lease | No Landlord Responsibilities
- Texas is a Income Tax-Free State
- Plano is Part of the Dallas Fort-Worth MSA | 4th Largest MSA in The Country | Population Exceeds 7.75M+
- Extremely Affluent Community With Average Household Income Exceeding $154K Within a 3 Mile Radius
- Located Across the Street From Trails at Creekside Apartment Complex | 444 Luxury Apartment Units | 5.7% Vacancy
- Surging Population Growth With 4%+ Expected Annual Population Growth Within a 1/3/5 Mile Radius
- Steadily Growing Community | 1/3/5 Mile Population Annual Growth of 4%+ Since 2010
- Within 5 Miles of Collin College | Student Enrollment Exceeds 52,812+
- Within 3 Miles of Baylor Scott & White Medical Center | 118 Beds
- 30 Miles Outside of Downtown Dallas
- Within 25 Miles of Dallas Fort Worth International Airport
- Lease is Corporately Guaranteed by CVS, the largest pharmacy chain in the U.S | S&P “BBB+"
- The location is promising with the surrounding areas home value upwards of $416,271 within 10 miles
Listing Contacts
Listed by Encore Real Estate Investment Services
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$362,785.00
$30,232.08/mo
Valuation Metrics
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DSCR
8.74%
Cap Rate
8.74%
ROI
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