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CVS Pharmacy, Montgomery, TX

CVS Pharmacy

TX, United States

Price $8,975,000
Cap Rate
NOI CALL FOR DETAILS
Lease Term CALL FOR DETAILS
Lease Type
Rental Increases CALL FOR DETAILS
Year Built 2015
Building Size 14,600 SF
Lot Size 2.26 Acres (98,616 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

LONG-TERM NNN LEASE TO INVESTMENT GRADE TENANT
» Brand new 25-year lease with five 5-year options
» Guaranteed by CVS Health Corporation, rated “BBB+” by Standard & Poor’s
» Absolute NNN lease requires no landlord maintenance or management, making it ideal for a passive investor

NATIONAL TENANT WITH STRONG FINANCIALS
» CVS is the largest retailer of prescription drugs and the second largest pharmacy benefits manager in the U.S.
» CVS and its affiliates operate over 9,600 locations across the United States
» CVS fills more than one out of every seven prescriptions in the U.S. and one out of every five in their respective markets

PRIME LOCATION IN WEALTHY MASTER-PLANNED COMMUNITY
» Located in the center of Woodforest’s commercial area
» Woodforest is the fastest growing master-planned community in Montgomery County and the third fastest growing community in the Houston MSA
» Average household incomes over $120,000 within one-, three-, and five-mile radii of the property

BRAND NEW BUILDING WITH PRESCRIPTION DRIVE-THRU
» Built in 2015 to tenant’s exact specifications
» Features prescription drive-thru, providing convenience to customers
» Features latest CVS prototype

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is conveniently located at the signalized hard corner of Fish Creek Thoroughfare and Woodforest Parkway North, with excellent visibility and access to 16,742 vehicles per day at the intersection. Directly across from the property is Woodforest Golf Club, 27-hole championship golf course that is ranked among the best in Texas. The property is surrounded by wealthy residential neighborhoods with robust demographics; average household incomes are well over $120,000 within one-, three-, and five-mile radii of the site.

Located in the rapidly-growing master-planned community of Woodforest, the property is approximately ten miles from The Woodland’s downtown area and seven miles from downtown Conroe. Additionally, the property is conveniently located in the middle of Woodforest’s planned commercial district. A community hospital, gas station and convenience store, bank, and a 20-acre retail center anchored by a grocery store are all planned near the property. The master plan for Woodforest ultimately calls for 90 acres of commercial, retail, and mixed-use space, all of which is centered around the subject property.

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