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CVS Pharmacy

Angleton, Texas

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NNN Pro Group is pleased to present the exclusive listing for a CVS located at 601 North Loop 274, Angleton, TX. The site consists of 12,229 rentable square feet of building space on estimated 2.21-acre parcel of land. This CVS is subject to a 25-year absolute triple-net (NNN) lease, which commenced March 1st, 2010. The current annual rent is $285,217. The Seller will credit purchaser at closing $857,451 to cover the discontinued rental income during the rent holiday in the last three years of lease term.

About the Investment:

✓ Long-Term, 25-Year Absolute Triple Net (NNN) Lease
✓ Approximately 11 Years Remaining on the Lease
✓ Seller Will Credit Buyer At Closing For Three Year Rent Holiday
✓ Time Value of Money | Value of Credit Today is Worth More Than Its Value in the Future
✓ CVS Corporate Guaranty | Investment Grade Credit | “BBB+” S&P Credit Rating

Key Details

Price:
$4,172,510
Cap Rate:
6.85%
Annual Rent:
$285,817
Address:
601 North Loop 274, Angleton, Texas 77515
Property Type:
Net-Lease Pharmacy
Lease Type:
NNN

Original Lease Term:
25 Years
Lease Commencement:
March 1, 2010
Lease Term Remaining:
11.4 Years
Lot Size:
+/- 2.21 Acres
Building Size:
12,229 SF
Year Built:
2009
Tenant:
CVS Pharmacy

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Anthony D’Ambrosia

License: 10401294012

Cade Kearn

License: 10401306065

Broker of record

Brian Brockman

Bang Realty-Texas, Inc

License: 701472


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