Available $4,081,923 - Retail - Single Tenant
Investment Offering & Highlights
- ABSOLUTE NET LEASE STRUCTURE
Zero landlord responsibilities for operating or capital expenses
- CORPORATE BACKED LONG TERM LEASE
CVS signed a 25 year lease in 2006 leaving approximately 14 years remaining on the initial lease term
- BBB+ CREDIT RATING BY STANDARD & POOR’S
Tenant is publicly traded on the NYSE and reported annual revenues in excess of $177 billion in 2016
- EXCELLENT EXPOSURE ALONG MAIN TRAFFIC CORRIDOR
Combined daily traffic counts exceed 26,300 vehicles
- HARD CORNER LOCATION WITH DRIVE-THRU
Easily accessible via both West Avenue N and Highway 96 South
THE SUBJECT PROPERTY IS A 9,800 SQUARE FOOT CVS LOCATED IN SILSBEE, TEXAS. CVS SIGNED A 25 YEAR LEASE WHICH COMMENCED IN 2006, LEAVING APPROXIMATELY 14 YEARS REMAINING ON THE TENANT’S INITIAL LEASE TERM.
The lease is absolute net providing for zero landlord responsibilities. CVS, which is publicly traded on the New York Stock Exchange under the ticker symbol “CVS”, has a current BBB+ credit rating by Standard & Poor’s and reported annual revenues in excess of $177 billion in 2016.
Located at the intersection of West Avenue N and Highway 96 South, the subject property is positioned along the area’s two main traffic and retail corridors. National retailers in the immediate area include Aaron’s, McDonald’s, Jack in the Box, Walgreens, Wells Fargo, Shell and many more. CVS is accessible via both arteries with combined daily traffic counts in excess of 26,300.
- Price: $4,081,923
- Cap Rate: 6.74%
- Lease Term: 14 Years Remaining
- Building Size: 9,800 SF
- Lot Size: 2.42 Acres
- Status: Available