CVS - Irving, TX

934 East Irving Boulevard, Irving, TX, 75060, US

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire CVS Pharmacy located at 934 East Irving Blvd, Irving, TX 75060 (the “Property” or “Asset”). The tenant operates under an absolute NNN lease with approximately 11.6 years of primary term remaining, featuring five five-year renewal options with zero landlord responsibility.

CVS occupies a prime hard corner location at the signalized intersection of Irving Boulevard and Nursery Road in Irving, TX, just 15 minutes west of downtown Dallas. With a long operative history of 28 years, this high-performing store ranks in the top 20% of all CVS locations in the state and within a 50-mile radius. The property enjoys exceptional visibility and access from both Irving Boulevard and Nursery Road (35,000 VPD), with convenient connectivity to I-12 accommodating a combined 135,000 vehicles per day.

This offering presents investors with an exceptional opportunity to acquire an asset providing secure, long-term cash flow, backed by a leading national retailer.

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Attributes

Asking Price

$3,948,000

Cap Rate

6.50%

Building area net

1,013 sm

Occupancy

100%

Year built

2000

Land area gross

0 sm

WALT

11.6

Media

Investment highlights

Investment grade tenancy (S&P: BBB) with stable outlook
Absolute NNN with zero landlord responsibilities
Ranks in the top 20% of all CVS locations in the state and within a 50-mile radius
224K population within a 5-mile radius, seeing a 9.7% population growth since 2010
11.6 years of primary lease term remaining
Primary visibility with 135K+ vehicles per day