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614 W Henderson St
Cleburne, TX 76033
CVS | NYSE: CVS | Abs NNN Leasehold · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Corporate Guaranteed (NYSE: CVS) Building Lease | Options To Extend | Guaranteed Ground Lease Assigned
- Adjacent to HEB Anchored Center | Along Primary Commercial Corridor
- Absolute NNN | Leasehold Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the leasehold interest (building ownership) in an absolute NNN-leased CVS Zero Cash Flow investment property located in Cleburne, Texas (Dallas Fort Worth MSA). The tenant, CVS (NYSE: CVS), has 12 years remaining on its original 25-year lease term, with five (5-year) options to extend, the latter three of which are at fair market rent, demonstrating its long-term commitment to the site. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for an out-of-state investor. The building is currently on a 25-year ground lease with 12 years remaining on the current term and five (5-year) options to renew. The ground lease has been assigned to CVS, further reducing management responsibilities for the leasehold owner.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Building Size
13,000 SF
Building Class
B
Year Built
1971
Price
$2,323,299
Price Per SF
$178.72
Cap Rate
7.40%
NOI
$171,924
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.44 AC
Zoning
PD - Planned Development District
Parking
69 Spaces (5.31 Spaces per 1,000 SF Leased)
Frontage
80’ on W Henderson St
AMENITIES
- Dedicated Turn Lane
- Signage
- Drive Thru
PROPERTY TAXES
| Parcel Number | 126-2941-01010 | Improvements Assessment | $798,244 |
| Land Assessment | $0 | Total Assessment | $798,244 |
PROPERTY TAXES
Parcel Number
126-2941-01010
Land Assessment
$0
Improvements Assessment
$798,244
Total Assessment
$798,244
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