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CVS Pharmacy

$3,423,694

1372 Belt Line Road, Garland, TX 75040

Active
Last Updated: 10/22/2024

6.25

Cap Rate

213,980

NOI

Details:
Cap Rate:    6.25%
NOI:    $213,980
Building Size:    10,908 sqft
Lot Area:    1.29 acres
Lease Type:    Absolute Net
Year Built:    2000
Price Per Sqft:    $314
Highlights:
  • TOP PERFORMING CVS WITH LONG OPERATING HISTORY - This location has had a successful operating history since it opened in 2000 and see an average of 17,121 visits per month according to AphaMap data.
  • ABSOLUTE NNN LEASE - The tenant is responsible for all expenses providing an investor with passive income and no landlord responsibilities. In addition, the primary lease term has over 6 years remaining and three, 5-year options to extend.
  • HIGHLY VISIBLE LOCATION - The subject property is ideally located at a signalized intersection along major roadways and has over 21,500 VPD on Beltline Road and 20,500 VPD on North Garland Avenue.
  • AFFLUENT SUBMARKET - The average household income in the surrounding 5 miles is over $95,804 per year with consumer spending coming in at approximately $3.5B per year.
  • STRONG SALES REPORTING - This location has a history of strong sales reports; $9,381,660 in sales for 2022 and $9,085,061 for 2023.
  • PROXIMITY TO POPULAR RETAILERS - Popular retail destinations in the surrounding area include Dollar Tree, Babe's Chicken Dinner House, Tanya's Cafe, Aldi, Walmart, Dollar General and many others.
  • INVESTMENT GRADE TENANT - CVS Health Cooperation (NASDAQ: "CVS") is rated "BBB" investment grade by Standard & Poor's with a Stable Outlook - over $357 billion in annual revenue and market cap of $101.61 billion as of December 2023.
  • CVS IS RANKED #6 ON THE 2023 FORTUNE 500 LIST - over 9,363 stores and 300,000 employees operating in all 50 states
Map:
Documents:
Title
Offering Memorandum
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Location
Gallery