5600 N 23rd Rd | McAllen, TX 78504
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- LoopNet Team
5600 N 23rd Rd
McAllen, TX 78504
CVS PHARMACY · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- This store ranks in the top 34% of stores in the state of Texas, according to those tracked on Placer.AI.
- In less than 1 year, the new landlord will benefit from a 3% rental increase
- Bondable-like Lease: This property operates under an absolute NNN lease, providing extremely passive ownership to investors.
- Long Lease Term: ±10 years remaining on the original lease ending in August 2034, with Ten (10), Five (5) year options.
- Credit Tenant: CVS offers a Corporate Guaranty with an Investment Grade BBB credit rating by Standard & Poor’s and a market cap of ±$93B.
- There are more than 251,000 people in a 5-mile radius with an average household income of $73,485 in a 5-mile radius.
PROPERTY FACTS
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,021 SF
Building Class
B
Year Built
2009
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
1.85 AC
Zoning
C - Commercial
Parking
65 Spaces (4.99 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | C9835-00-000-0001-00 | Improvements Assessment | $993,756 |
| Land Assessment | $1,068,215 | Total Assessment | $2,061,971 |
PROPERTY TAXES
Parcel Number
C9835-00-000-0001-00
Land Assessment
$1,068,215
Improvements Assessment
$993,756
Total Assessment
$2,061,971
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