CVS Houston, TX Absolute Net Lease 12234 Jones Road, Houston, TX Cap Rate 6.3% Houston ( Texas, US ) Built

$4,533,332 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 11,820 sq. ft.
  • Development Level: Built
  • Lot Size: 63732 sq. ft.
  • Year Built: 2002

Description

CVS Houston, TX Absolute Net Lease 12234 Jones Road, Houston, TX Cap Rate 6.3%

Cap Rate: 6.3%
NOI: $285,600
Building Size: 11,820 sqft
Lot Area: 63,732 sqft
Occupancy: 100%
Lease Type: Absolute Net
Year Built: 2002
Price Per Sqft: $383.53
Tenancy: Single

Price: $4,533,332 USD

DESCRIPTION
Pharma Property Group is pleased to present the opportunity to purchase a CVS with approximately 7.5 years of lease term remaining on an absolute net lease with no landlord responsibilities. The lease allows for a rental increase of approximately 3.5% at the first option which begins in February of 2028. Income guaranteed by CVS Corporate investment grade credit rating of BBB (S&P), Top 10 Fortune 500 Company with ±9,840 locations.

The subject property is located in an infill area of Houston with an average household income in a five-mile radius of $99,776 and the population in a five-mile radius is 274,166. The Subject property is located at the signalized southeast corner of Jones Road (36,719 VPD) and Cypress North Houston Road (24,012 VPD) with combined daily traffic counts of approximately 60,731 vehicles per day.

Just one-half mile north of the subject property is Arella on Jones, a new 226-unit luxury senior living development nearing completion. Also nearby are two major medical facilities, Houston Methodist Willowbrook Hospital (312 beds) and HCA Houston Healthcare Hospital (163 beds). Directly across the street from the subject property is located a Walgreens, making this a strategic location for CVS.

HIGHLIGHTS
• STABLE INCOME - Income guaranteed by CVS Corporate investment grade credit rating of BBB (S&P), Top 10 Fortune 500 Company with ±9,840 locations.
• ABSOLUTE NET LEASE WITH NO LANDLORD RESPONSIBILITIES - ±7.5 years remaining on an absolute net lease with no landlord responsibilities.
• 3.5% RENTAL INCREASE IN 2028 - The lease allows for a rental increase of ± 3.5% at the first option which begins in February of 2028.
• AFFLUENT INFILL HOUSTON LOCATION - Located in an infill area with an average HH income of $99,776 and population of 274,166 in a 5-mile radius.
• EXTREMELY HIGH TRAFFIC COUNTS - Located at SEC of Jones Road and Cypress North Houston Road with combined traffic counts of ±60,731 VPD.
• NEW 226-UNIT SENIOR HOUSING .5 MILES NORTH - Just .5 miles north is Arella on Jones, a new 226-unit luxury senior living development nearing completion.
• NEAR TWO MAJOR MEDICAL FACILITIES - Houston Methodist Willowbrook Hospital with 312-beds and HCA Houston Healthcare Hospital with 163-beds.
• STRATEGICALLY LOCATED ACROSS FROM WALGREENS – Located directly across the street Walgreens making this a strategic location for CVS.

For more information
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.