Available $3,168,544 - 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 new 20 year lease underscoring their long term commitment to the site
- BBB CREDIT RATING BY STANDARD & POOR’S
Tenant is publicly traded on the NYSE and reported annual revenues in excess of $209 billion in 2019
- HARD CORNER LOCATION WITH DRIVE-THRU
Property encompasses an entire city block in the heart of the area’s main retail and residential hub
- APPROXIMATELY ONE MILE FROM TEXAS HEALTH PRESBYTERIAN HOSPITAL
91-bed hospital serving 6 communities
- 20 MINUTE DRIVE SOUTHEAST OF DALLAS
The site is easily accessible via Highway 175
THE SUBJECT PROPERTY IS A 9,779 SQUARE FOOT CVS LOCATED IN KAUFMAN, TX. CVS HAS SHOWN LONG TERM COMMITMENT TO THE SITE HAVING EXECUTED A NEW 20 YEAR FIRM LEASE TERM WHICH RUNS THROUGH 2039. THE LEASE IS STRUCTURED WITH FIVE PERCENT RENT INCREASES BETWEEN EACH OF THE FOUR 5-YEAR RENEWAL OPTIONS.
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 $209 billion in 2019.
Located at the intersection of East Mulberry Street and South Washington Street, the subject property encompasses an entire city block in the heart of Kaufman’s residential and retail hub. Combined daily traffic counts exceed 31,000 vehicles. CVS is located less than a mile from the Texas Health Presbyterian Hospital, a 91-bed hospital serving the communities of Kaufman, Crandall, Forney, Gun Barrel City, Mabank, Terrell and numerous others. National retailers surrounding the site include Dollar General, Domino’s Pizza, Sonic, O’Reilly Auto Parts and many more.
- Price: $3,168,544
- Cap Rate: 5.15%
- Lease Term: 20 Years Remaining
- Year Built: 2006
- Building Size: 9,779 SF
- Lot Size: 0.95 Acres
- Status: Available