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Drug Store

CVS Pharmacy

1500 Padre Blvd, South Padre Island, TX 78597

Listing Price: $12,358,933

Cap Rate
5.25%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
12.2
Guarantor
Corporate Guarantee
Rentable SF
12,989
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$49.95

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a CVS Pharmacy located at 1500 Padre Boulevard in South Padre Island, Texas. There are currently 12.35 years remaining on the true triple-net lease, which calls for zero landlord responsibilities. The current annual rent is$648,844. There are ten (10), five (5)-year tenant renewal option periods, bringing the total lease term to 75 years.

Investment Highlights

  • ? Long-Term Absolute Triple Net (NNN) Lease Approximately 12.35 Years Remaining
  • ? CVS Corporate Guaranty | Investment-Grade Credit
  • ? Fee Simple Ownership

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Listing Price: $12,358,933

Cap Rate
5.25%
Tenant Name
CVS Pharmacy
Years Remaining On Lease
12.2
Guarantor
Corporate Guarantee
Rentable SF
12,989
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$49.95

Investment Highlights

  • ? Long-Term Absolute Triple Net (NNN) Lease Approximately 12.35 Years Remaining
  • ? CVS Corporate Guaranty | Investment-Grade Credit
  • ? Fee Simple Ownership

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a CVS Pharmacy located at 1500 Padre Boulevard in South Padre Island, Texas. There are currently 12.35 years remaining on the true triple-net lease, which calls for zero landlord responsibilities. The current annual rent is$648,844. There are ten (10), five (5)-year tenant renewal option periods, bringing the total lease term to 75 years.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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