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CVS | Approx 12yrs Remain Corp Abs NNN 2420 W Wheatland Rd

13,420 SF Retail Building Dallas, TX 75237 $8,523,000 ($635/SF) 5.25% Cap Rate

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Investment Highlights

Approximately 12 Years Remaining | Options to Extend | Investment Grade Tenant (S&P: BBB) | Corporate Guaranteed Lease
Signalized, Hard Corner Intersection | Interstate 20 (174,400 VPD) | Close Proximity to Multiple Schools/Universities
Absolute NNN | Fee Simple Ownership | No State Income Tax | Zero Landlord Responsibilities

Strong National/Credit Tenants | Dense Regional Retail Corridor | Wheatland Towne Crossing (258,000 SF - Power Center )
Methodist Charlton Medical Center (300 Beds)

Executive Summary

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, investment grade (S&P: BBB), drive-thru equipped, CVS investment property located in Dallas, Texas. The tenant, CVS Pharmacy, Inc has approximately 12 years remaining in their initial term with 10 (5-year) options to extend, demonstrating their commitment to the site. The lease is corporate guaranteed by CVS Caremark Corporation and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor in a state with no state income tax. CVS is the largest pharmacy chain in the United States with more than 9,900 stores across the United States and Puerto Rico.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

13,420 SF

Building Class

Year Built

2009

Price

$8,523,000

Price Per SF

$635

Cap Rate

5.25%

NOI

$447,450

Tenancy

Single

Building Height

1 Story

Building FAR

0.17

Lot Size

1.78 AC

Zoning

PD - Planned Development

Parking

69 Spaces (5.14 Spaces per 1,000 SF Leased)

Frontage

316 FT on I-20 Hwy

Amenities

Corner Lot
Freeway Visibility

Pylon Sign
Signage

Signalized Intersection

Drive Thru

Retailer
99,999 SF
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CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.