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129 Shahan Prairie Rd
Oak Point, TX 75068
CVS Pharmacy · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Absolute NNN lease with over 20+ years remaining and no rent holiday
- Large 2.48 acre lot strategically situated on the hard corner of the signalized intersection of FM 720 and Shahan Prairie Road
- Excellent demographics with an average household income over $134,000 and nearly 40,500 population within 3 miles of the property
- 10% rent increase every 5 years at the start of each renewal option
- High growth, affluent North Dallas trade area with numerous new residential communities recently built and currently under construction
- CVS Health Corporation is ranked #5 on the Fortune 500 with 2024 reported revenues of $372.8 billion
EXECUTIVE SUMMARY
Cushman and Wakefield is pleased to present a 14,698± square foot freestanding CVS Pharmacy retail store with drive-thru pharmacy located in Oak Point, Texas (High Income North Dallas Suburb) leased until January 31, 2046, with 20+ years of primary term remaining.
The CVS property is located on the busy intersection of FM 720 and Shahan Prairie Road, just south of US Highway 380 (54,790 VPD). Surrounding demographics are excellent with average household income over $145,000 and population of nearly 40,500 within 3 miles. Tenants in the immediate area include 7-Eleven, Starbucks, McDonald’s, and PNC Bank, in addition to several new residential communities recently built and under construction. FM 720 runs north/south through Oak Point connecting with US 380 to the north and El Dorado Parkway to the south, which further connects with Little Elm and Frisco. U.S. Highway 380 is a major east/west arterial that connects to Denton, McKinney and to the larger Dallas/Fort Worth metroplex. The property is 30 minutes from DFW airport, and 40 minutes from downtown Dallas.
The CVS property is located on the busy intersection of FM 720 and Shahan Prairie Road, just south of US Highway 380 (54,790 VPD). Surrounding demographics are excellent with average household income over $145,000 and population of nearly 40,500 within 3 miles. Tenants in the immediate area include 7-Eleven, Starbucks, McDonald’s, and PNC Bank, in addition to several new residential communities recently built and under construction. FM 720 runs north/south through Oak Point connecting with US 380 to the north and El Dorado Parkway to the south, which further connects with Little Elm and Frisco. U.S. Highway 380 is a major east/west arterial that connects to Denton, McKinney and to the larger Dallas/Fort Worth metroplex. The property is 30 minutes from DFW airport, and 40 minutes from downtown Dallas.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,698 SF
Building Class
B
Year Built
2020
Price
$7,093,000
Price Per SF
$482.58
Cap Rate
5.50%
NOI
$390,115
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
2.48 AC
Zoning
NEC - Commercial
Parking
55 Spaces (3.74 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Skylights
- Drive Thru
- Storage Space
- Air Conditioning
PROPERTY TAXES
| Parcel Number | R966100 | Improvements Assessment | $2,001,793 |
| Land Assessment | $2,700,720 | Total Assessment | $4,702,513 |
PROPERTY TAXES
Parcel Number
R966100
Land Assessment
$2,700,720
Improvements Assessment
$2,001,793
Total Assessment
$4,702,513
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