Available $8,596,000 - Retail - Single Tenant
Investment Offering & Highlights
- High volume store – one of the top performing locations in the area
- Strategically situated on the “going home” side of the street fronting the busy intersection of Blue Mound Road and Basswood Blvd with traffic counts in excess of 27,600
- High growth, affluent trade area with numerous new residential communities recently built and currently under construction surrounding the property
- Strong demographics with average household income in excess of $98,000 within 1 mile of the property and over 237,000 population within 5 miles
- Located just northwest of the confluence Interstate 820 (121,000 VPD) and Interstate 35W (144,000 VPD) providing direct access to downtown Fort Worth and Dallas
- Outparcel to a Kroger anchored shopping center with neighboring tenants such as Baylor Medical, Superior Urgent Care, Carter BloodCare, Supercuts, and Pizza Hut, to name a few
- Fifteen minute drive from downtown Fort Worth and ten minute drive from Fort Worth Meacham International Airport
- Corporately guaranteed lease by CVS Health Corporation, rated “BBB” by S&P, and ranked #8 on the Fortune 500 with $224 billion in revenues
- CVS recently acquired Aetna for $70 billion, with intentions to create an integrated healthcare company whose pharmacy locations could be hubs for medical services while better managing patients, according to Bloomberg
Cushman & Wakefield’s Net Lease Group is pleased to offer for sale a freestanding 24-CVS Pharmacy with 22 years of firm term remaining on an absolute net lease. Leased to CVS PHARMACY, LLC, and guaranteed by CVS HEALTH CORPORATION, from October 6, 2016, until January 31, 2042, with 22 years of primary term remaining. The annual rent of $408,320 increases by 5% at the start of each of the six 5-year options. The lease is absolute net with the tenant responsible for taxes, insurance and maintenance, including roof and structure.
The CVS property is located on the intersection of Blue Mound Road and Basswood Boulevard on the “going home” side of the street just 4 miles from the confluence of Interstate 820 ( & Interstate 35W (144,000 VPD); ten minutes from Fort Worth Meacham International Airport; and fifteen minutes from downtown Fort Worth. The property is an outparcel to a Kroger anchored shopping center and across the street from Saginaw High School (1,900 students). The property is strategically situated in a dense, affluent residential area with a population of 237,265 within 5 miles, and average household income over $98,000 within 1 mile. National tenants in the immediate area include Chipotle, Starbucks, Kroger, Pizza Hut, Burger King, 7-Eleven, Sonic, Exxon, Shell, Superior Urgent Care, Carter BloodCare and Baylor Medical.
Please use the following link to access the full OM: https://www.crexi.com/properties/302091/texas-abs-nnn-cvs-grocery-anchored-center