129 Shahan Prairie Rd - Drug Store FOR SALE


Oak Point, TX 75068
$7,361,000 USD
415-713-8578
129 Shahan Prairie Rd, Oak Point, TX for Sale
$7,361,000 USD
Drug Store - FOR SALE
1/9
null | 5.3% Cap Rate

129 Shahan Prairie Rd
Oak Point, TX 75068


HIGHLIGHTS

  • Absolute NNN lease with over 21+ years remaining and no rent holiday
  • 10% rent increase every 5 years at the start of each renewal option
  • Large 2.48 acre lot strategically situated on the hard corner of the signalized intersection of FM 720 and Shahan Prairie Road
  • High growth, affluent North Dallas trade area with numerous new residential communities recently built and currently under construction
  • Excellent demographics with an average household income over $134,000 and nearly 35,000 population within 3 miles of the property
  • Located just south of US Highway 380 providing direct freeway access to the Dallas Fort Worth Metroplex

OVERVIEW

Cushman and Wakefield is pleased to present a 14,698± square foot freestanding CVS Pharmacy retail store with drive-thru pharmacy located in Fort Worth, Texas leased until January 31, 2046, with 21+ years of primary term remaining. The CVS property is located on the busy intersection of FM 720 and Shahan Prairie Road, just south of US Highway 380 (54,790 VPD). Surrounding demographics are excellent with average household income over $134,200 and population of nearly 35,000 within 3 miles. Tenants in the immediate area include 7-Eleven, Starbucks, McDonald’s, and PNC Bank, in addition to several new residential communities recently built and under construction. FM 720 runs north/south through Oak Point connecting with US 380 to the north and El Dorado Parkway to the south, which further connects with Little Elm and Frisco. U.S. Highway 380 is a major east/west arterial that connects to Denton, McKinney and to the larger Dallas/Fort Worth metroplex. The property is 30 minutes from DFW airport, and 40 minutes from downtown Dallas.

FOR SALE DETAILS

PRICE

$7,361,000 USD

PRICE/SF

$518 USD /SF

CAP RATE

5.3%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

New CVS Pharmacy- North Dallas Suburb

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.48 AC

LAND SF

108,029 SF

ZONING

NEC

APN/PARCEL ID

R966100

ASK ABOUT THIS PROPERTY

Christopher SheldonCushman & WakefieldMore Info
415-713-8578

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Christopher SheldonCushman & WakefieldMore Info
415-713-8578

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.