Available $3,901,204 - 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 13 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 $184 billion in 2017
- APPROXIMATELY ONE MILE FROM TOWN SQUARE VILLAGE
Mixed-use master planned community with 1,200 residential units and 100,000 square feet of retail space
- AFFLUENT AREA
Average household income within a one mile radius exceeds $127,000
- HARD CORNER LOCATION with DRIVE THRU
Ideally positioned at the intersection of Hillside Road and South Coulter Street
THE SUBJECT PROPERTY IS A 11,945 SQUARE FOOT CVS LOCATED IN AMARILLO, TEXAS. CVS SIGNED A 25 YEAR LEASE WHICH COMMENCED IN 2006, LEAVING APPROXIMATELY 13 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 $184 billion in 2017.
Located at the intersection of Hillside Road and South Coulter Street, the subject property is positioned along one of the area’s main retail corridors. CVS is approximately one mile east of Town Square Village, a mixed-use master-planned development with over 1,200 residential units and 100,000 square feet of retail. The site is situated less than a mile south of a Walmart Supercenter and Lowe’s with other surrounding retailers including Chili’s, Buffalo Wild Wings, Discount Tire, Pizza Hut, Edward Jones and many more. The surrounding community is densely populated with over 60,000 residents within a three mile radius. This affluent community boasts an average household income in excess of $127,000 within a one mile radius of the subject property.
- Price: $3,901,204
- Cap Rate: 6.48
- Lease Term: 13 Years Remaining
- Year Built: 2006
- Building Size: 11,945 SF
- Lot Size: 1.72 Acres
- Status: Available