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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
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
$2,227,000
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
Amenities
- Dedicated Turn Lane
- Signage
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
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.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Moderately walkable
60/100
Moderately drivable
70/100
Somewhat bikeable
30/100
Nearby Major Retailers
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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