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CVS Leasehold, Paydown Readvance, "PRICED TO SELL"

3401 Tidewell Road, Houston, TX 77093

N/A

12,900 SF | Retail

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Retail Property - Off Market

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

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.

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

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