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Drug Store

CVS - 16.5 Yrs Remaining on Lease

745 N Zaragoza Rd, El Paso, TX 79907

Listing Price: $8,286,000

Cap Rate
4.75%
Tenant Name
CVS
Years Remaining On Lease
16.6
Gross SF
13,358
Guarantor
Corporate Guarantee
Rentable SF
13,358
Price/Gross SF
$620.30
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.47

Investment Overview

CVS Health Corporation is an American retail pharmacy and health care company headquartered in Woonsocket, Rhode Island. The company sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, film and photo services, seasonal merchandise, greeting cards, and convenience foods. El Paso, the county seat of El Paso County, is the second-largest city in the Southwest United States behind Phoenix, Arizona. The city of El Paso, in the far western part of Texas on the Rio Grande, is the sixth-largest in Texas and the largest metro area that runs along the Texas-Mexico border and a top 20 percent U.S. performing economy. As one of the most expansive manufacturing centers in North America and home to the greatest bilingual and bi-cultural workforce of the Western Hemisphere, El Paso is a recognized global economic competitor undergoing continuous expansion.

Investment Highlights

  • Absolute Triple-Net (NNN) Corporate Lease with 16+ Years Remaining
  • 10 Percent Rental Increases in Each Renewal Option Period
  • 205,688 Residents within a Five-Mile Radius - Dense El Paso Trade Area
  • Bank of America ATM Provides Additional Rental Income to CVS, Reducing CVS' Basis
  • Top Performing CVS Location - Per Placer AI, the Subject Property is in the Top 97% in TX and Top 88% in the US
  • Outparcel to El Super - Other Tenants in the Center Include McDonald's, KFC, Taco Bell, and Pizza Hut
  • High Traffic Location at the Signalized Hard Corner of North Loop Drive and North Zaragoza Road (52,000+ Combined Cars per Day)
  • Three Miles from Zaragoza Bridge, a Major Entry Point for Shoppers from Mexico - Total Non-Commercial Vehicle Volume for 2021 Exceeded 2.5 Million (Source: US DOT)

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Drug Store

CVS - 16.5 Yrs Remaining on Lease

Listing Price: $8,286,000

Cap Rate
4.75%
Tenant Name
CVS
Years Remaining On Lease
16.6
Gross SF
13,358
Guarantor
Corporate Guarantee
Rentable SF
13,358
Price/Gross SF
$620.30
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.47

Investment Highlights

  • Absolute Triple-Net (NNN) Corporate Lease with 16+ Years Remaining
  • 10 Percent Rental Increases in Each Renewal Option Period
  • 205,688 Residents within a Five-Mile Radius - Dense El Paso Trade Area
  • Bank of America ATM Provides Additional Rental Income to CVS, Reducing CVS' Basis
  • Top Performing CVS Location - Per Placer AI, the Subject Property is in the Top 97% in TX and Top 88% in the US
  • Outparcel to El Super - Other Tenants in the Center Include McDonald's, KFC, Taco Bell, and Pizza Hut
  • High Traffic Location at the Signalized Hard Corner of North Loop Drive and North Zaragoza Road (52,000+ Combined Cars per Day)
  • Three Miles from Zaragoza Bridge, a Major Entry Point for Shoppers from Mexico - Total Non-Commercial Vehicle Volume for 2021 Exceeded 2.5 Million (Source: US DOT)

Investment Overview

CVS Health Corporation is an American retail pharmacy and health care company headquartered in Woonsocket, Rhode Island. The company sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, film and photo services, seasonal merchandise, greeting cards, and convenience foods. El Paso, the county seat of El Paso County, is the second-largest city in the Southwest United States behind Phoenix, Arizona. The city of El Paso, in the far western part of Texas on the Rio Grande, is the sixth-largest in Texas and the largest metro area that runs along the Texas-Mexico border and a top 20 percent U.S. performing economy. As one of the most expansive manufacturing centers in North America and home to the greatest bilingual and bi-cultural workforce of the Western Hemisphere, El Paso is a recognized global economic competitor undergoing continuous expansion.

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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