This Retail Property is Off-Market.

3401 Tidewell Road
Houston, TX 77093 ·

12,900 SF · Retail For Sale

N/A

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CVS Leasehold, Paydown Readvance, "PRICED TO SELL"

Price N/A Cap Rate 9.07%
Building Size 12,900 SF Tenancy Single
Property Type Retail Property on Ground Lease? Yes
Property Sub-type Free Standing Bldg Year Built 2009
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 1.63 SF
Listing ID: 18690311 Date Created: 05/06/2014 Last Updated: 01/14/2015

Description

CVS "Zero Cash Flow" Leasehold with " pay down re-advance feature". Lease term 1-2009 through 1-2033 with Six (6) Five (5) year options. Debt assumption 1st lein $2,559,587 + 467 debt component of $159,189. Cash required $370,000 or 13.6% over combined debt balances. Texas is a tax free state. (see attached brochure)

SEE ATTACHED BROCHURE FOR ADDITIONAL INFORMATION

This store was built new in 2009 to replaced an older Eckerd Store store next door said store which was opened in 1979 and torn down upon compleation of construction. There has been a drug store on this site for 35 years and it is evident CVS is committed to the location. Situated in a Houston Suburb, immediately adjacent to the Eastex Freeway on/off ramps, this property has unparalled visibility and traffic flow.

Research

3401 Tidewell Road, Houston, TX 77093 (Harris County)

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