827 E Milam St - Drug Store FOR SALE


Mexia, TX 76667
$3,602,094 USD
847-562-9280
827 E Milam St, Mexia, TX for Sale
$3,602,094 USD
Drug Store - FOR SALE
1/3
null | 6.5% Cap Rate

827 E Milam St
Mexia, TX 76667


HIGHLIGHTS

  • CVS is an investment grade rated tenant (S&P: BBB)
  • Texas is a tax-free state
  • NNN lease – No landlord responsibilities
  • Corporate CVS guaranty
  • Operating history since 2010
  • Located along Milam Street (12,073 VPD)

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased CVS Pharmacy located in Mexia, Texas. The lease runs through January 2036 which leaves over 12 years remaining on the primary term. CVS has been successfully operating at this location since 2010, demonstrating commitment to the site. The lease is triple net which presents no landlord responsibilities and has ten 5-year renewal options attached. The lease also features a corporate guaranty and is located in the income tax-free state of Texas. The 13,329 square-foot building is located along Mexia’s primary thoroughfare known as Milam Street which experiences over 12,073 vehicles per day. The subject CVS location has very limited competition in the area with the nearest Walgreens found over 40 miles west. Nationally recognized retailers occupying the corridor include Walmart Supercenter, H-E-B, Tractor Supply Company, Starbucks, Ace Hardware, McDonald’s, Chevrolet, O’Reilly Auto Parts, and many others. The average household income within a five-mile radius is $68,513. CVS Pharmacy is the nation’s largest drugstore chain and total prescription revenue and operates 9,900+ locations in 49 states, the District of Columbia, Puerto Rico and Brazil. CVS Pharmacy is a publicly traded company on the New York Stock Exchange (Symbol: CVS) with a market capitalization in excess of $97.9 billion. CVS is one of the largest corporations in the nation, ranking #4 on the Fortune 500.

FOR SALE DETAILS

PRICE

$3,602,094 USD

PRICE/SF

$324 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS Pharmacy

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2010

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.32 AC

LAND SF

57,499 SF

ZONING

Commercial

APN/PARCEL ID

R20720

ASK ABOUT THIS PROPERTY

John FeeneyThe Boulder GroupMore Info
847-562-9280

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John FeeneyThe Boulder GroupMore Info
847-562-9280

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