CVS Pharmacy
$3,423,694
1372 Belt Line Road, Garland, TX 75040
For Sale
Retail
Free Standing
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
Documents:
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Offering Memorandum
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Location
Gallery
