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CVS | NYSE: CVS | Abs NNN Leasehold 614 W Henderson St 13,000 SF Retail Building Cleburne, TX 76033 $2,227,000 ($171.31/SF) 7.72% Cap Rate

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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

Drug Store

Building Size

13,000 SF

Building Class

Year Built

1971

Price

$2,227,000

Price Per SF

$171.31

Cap Rate

7.72%

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

Dedicated Turn Lane

Signage

Drive Thru

Retailer
99,999 SF
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CVS Pharmacy began as a single store in Lowell, Massachusetts in 1963 and grew into a retail pharmacy business within CVS Health. The company dispenses prescriptions and supports patient care through vaccinations, counseling, prescription savings, mail order pharmacy, specialty pharmacy, and prescription delivery, while also selling health and wellness products and general merchandise. CVS Pharmacy remains a major U.S. pharmacy chain with a broad neighborhood presence and is part of a larger health care platform that connects retail pharmacy, pharmacy benefits, and related services.