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CVS | 12yrs Corp Abs NNN | DriveThru 8953 Virginia Pky 14,391 SF Retail Building McKinney, TX 75071 $6,031,000 ($419.08/SF) 6.50% Cap Rate
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, CVS investment property located in McKinney, Texas. The tenant, CVS Pharmacy, Inc., has approximately 12 years remaining on its lease with 10 (5-year) options to extend, demonstrating their commitment to the site. The lease features flat rent throughout the initial term and variable increases throughout each option period. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Seller will provide a credit for rent holiday.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,391 SF
Building Class
C
Year Built
2011
Price
$6,031,000
Price Per SF
$419.08
Cap Rate
6.50%
NOI
$392,028
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.87 AC
Parking
62 Spaces (4.31 Spaces per 1,000 SF Leased)
Frontage
310’ on Virginia Pkwy
Amenities
- Corner Lot
- Signage
- Signalized Intersection
- 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 in 1963 as Consumer Value Stores in Lowell, Massachusetts, selling health products. The company expanded into pharmacy services in 1967 and was later acquired by Melville Corporation. Through strategic acquisitions like MinuteClinic and Caremark, CVS grew its healthcare services. The 2018 merger with Aetna made CVS Health a major player in insurance. Today, the company operates pharmacies nationwide, manages pharmacy benefits, and provides health insurance through various subsidiaries.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
Property Taxes
| Parcel Number | R-8312-00A-003R-1 | Improvements Assessment | $1,880,764 |
| Land Assessment | $2,162,079 | Total Assessment | $4,042,843 |
Property Taxes
Parcel Number
R-8312-00A-003R-1
Land Assessment
$2,162,079
Improvements Assessment
$1,880,764
Total Assessment
$4,042,843
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CVS | 12yrs Corp Abs NNN | DriveThru | 8953 Virginia Pky
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