Drug Store
CVS Pharmacy
1500 Padre Blvd, South Padre Island, TX 78597
Listing Price: $12,358,933
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.
Listing Price: $12,358,933
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.
