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3711 E Frank Phillips Blvd
Bartlesville, OK 74006
CVS · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Strategically Located at the Signalized Hard Corner Along Area’s Main Retail and Traffic Corridor (Highest Traffic Intersection in Bartlesville)
- Strategic Location – the largest employers in Bartlesville, Phillips 66 and ConocoPhillips, contract exclusively with CVS Caremark.
- Adjacent to Eastland Shopping Center – 445,731 SF open-air collection of large format retail anchored by Hobby Lobby
- Nearest CVS (and National Pharmacy Chain) to Ascension St. John Jane Phillips Medical Center
- Limited Competition – no free-standing CVS retail store within 36-mile radius including only two Walgreens (see map on pg. 21)
- Excellent Ingress and Egress Along Both Traffic Corridors – CVS benefits from its location at the signalized intersection with access points on both W
EXECUTIVE SUMMARY
This investment opportunity features a freestanding CVS Pharmacy located at the high-traffic intersection of State Highway US-75 (Washington Blvd) and Frank Phillips Blvd in Bartlesville, Oklahoma. Built in 2014, the property spans 13,225 square feet on 2.02 acres and includes a convenient drive-thru, ensuring strong customer accessibility and operational efficiency.
CVS Health Corporation, a Fortune 500 leader ranked #6 in 2025, operates over 9,000 stores nationwide and maintains a BBB investment-grade credit rating with a stable outlook. The tenant signed a 25-year corporate-backed lease commencing in 2014, leaving approximately 14.2 years remaining on the initial term. This absolute NNN lease structure eliminates landlord responsibilities for operating or capital expenses, making it an ideal passive investment.
The lease also includes rare 10% rent increases between each of the six, 5-year renewal options, providing long-term income growth potential. Positioned adjacent to a Top 100 hospital and surrounded by a strong mix of residential and commercial development, the site benefits from exceptional visibility and consistent traffic flow. With CVS generating over $357 billion in annual revenue and a market cap exceeding $101 billion, this property offers investors a secure, stable, and high-performing asset in a thriving Oklahoma corridor.
CVS Health Corporation, a Fortune 500 leader ranked #6 in 2025, operates over 9,000 stores nationwide and maintains a BBB investment-grade credit rating with a stable outlook. The tenant signed a 25-year corporate-backed lease commencing in 2014, leaving approximately 14.2 years remaining on the initial term. This absolute NNN lease structure eliminates landlord responsibilities for operating or capital expenses, making it an ideal passive investment.
The lease also includes rare 10% rent increases between each of the six, 5-year renewal options, providing long-term income growth potential. Positioned adjacent to a Top 100 hospital and surrounded by a strong mix of residential and commercial development, the site benefits from exceptional visibility and consistent traffic flow. With CVS generating over $357 billion in annual revenue and a market cap exceeding $101 billion, this property offers investors a secure, stable, and high-performing asset in a thriving Oklahoma corridor.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,225 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2014
Price
$7,498,000
Price Per SF
$566.96
Cap Rate
6%
NOI
$449,880
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
2.02 AC
Zoning
AA1
Parking
38 Spaces (2.86 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Pylon Sign
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 0023459 | Improvements Assessment | $169,791 |
| Land Assessment | $163,606 | Total Assessment | $333,397 |
PROPERTY TAXES
Parcel Number
0023459
Land Assessment
$163,606
Improvements Assessment
$169,791
Total Assessment
$333,397
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