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Drug Store

CVS Ground Lease | Dallas-Fort Worth MSA | Recent 20Yr Lease Extension | 25+Yr Historical Occupancy

500 N Galloway Ave, Mesquite (Dallas-Fort Worth MSA), TX 75149

Listing Price: $3,088,889

Cap Rate
4.50%
Tenant Name
CVS
Years Remaining On Lease
18.5
Gross SF
11,200
Guarantor
Corporate Guarantee
Rentable SF
11,200
Price/Gross SF
$275.79
Lease Type
NNN Ground Lease
Rent Per Square Feet
$12.41

Investment Overview

Part of the Dallas-Fort Worth Metropolitan Statistical Area, the city of Mesquite, Texas is a suburb approximately eleven Miles east of Dallas, Texas. Mesquite is positioned at the crossroads of three major interstates (I-30, I-635, I-20) allowing for ease of accesses for residents and visitors alike. Mesquite is known as the rodeo capital of Texas. The town received the 2016 Playful City USA designation and is perennially named Tree City USA by National Arbor Day Foundation. Mesquite has a thriving growing economy driven primarily by construction and extraction, manufacturing, and transportation. The Dallas–Fort Worth–Arlington metropolitan statistical area’s population was 7,573,136 according to the U.S. Census Bureau’s 2019 population estimates, making it the most populous metropolitan area in both Texas and the Southern United States, the fourth-largest in the U.S., and the tenth-largest in the Americas. In 2016, the Dallas–Fort Worth metroplex had the highest annual population growth in the United States.

Investment Highlights

  • Recent 20-Year Lease Extension and 25+ Year Historical Occupancy: Demonstrating a Strong Commitment to the Location. Absolute Net Ground Lease Featuring Above Average Rental Increases at Each Option.
  • Features Well Below Market Rent. This Location Serves Beer & Wine, and Features a Drive-Thru Pharmacy.
  • CVS Acquired Aetna for $70B. Aetna Inc. is one of the Nation's Leading Diversified Health Care Benefits Companies w/ a Network that Stretches Across the Country / Globe.
  • Pro Forma CVS / Aetna Combined Annual Revenue is $221 Billion. Parent Company is Currently Ranked #7 on the Fortune 500. The CVS/Aetna Merger Potentially Created a Fortune #4 Company with More than $18 Billion in Pro Forma EBITDA. S&P Investment Grade Credit Rating of "BBB" for the Parent Company.
  • Walking Distance to Dallas Regional Medical Center: A 202-Bed Hospital Offering Northeast Texas Residents 24hr ER, Critical Care, Medical, Surgical Care, Imaging and more.
  • Positioned Along Area's Major Retail and Traffic Corridor: Features Easy Access & Excellent Visibility to Combined Daily Traffic Counts Exceeding 26k Vehicles. Strong Performing Store Per Placer.ai: Ranked in the Top 3% of Texas CVS Locations and Top 8% in the Chain.
  • Mesquite has long been Recognized as a Major Retail Area and is Home to the Largest Concentration of Industries on the East Side of the Dallas/Fort Worth Metroplex.

Exclusively Listed By

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    License(s) TX: 0606255

    Texas

Drug Store

CVS Ground Lease | Dallas-Fort Worth MSA | Recent 20Yr Lease Extension | 25+Yr Historical Occupancy

Listing Price: $3,088,889

Cap Rate
4.50%
Tenant Name
CVS
Years Remaining On Lease
18.5
Gross SF
11,200
Guarantor
Corporate Guarantee
Rentable SF
11,200
Price/Gross SF
$275.79
Lease Type
NNN Ground Lease
Rent Per Square Feet
$12.41

Investment Highlights

  • Recent 20-Year Lease Extension and 25+ Year Historical Occupancy: Demonstrating a Strong Commitment to the Location. Absolute Net Ground Lease Featuring Above Average Rental Increases at Each Option.
  • Features Well Below Market Rent. This Location Serves Beer & Wine, and Features a Drive-Thru Pharmacy.
  • CVS Acquired Aetna for $70B. Aetna Inc. is one of the Nation's Leading Diversified Health Care Benefits Companies w/ a Network that Stretches Across the Country / Globe.
  • Pro Forma CVS / Aetna Combined Annual Revenue is $221 Billion. Parent Company is Currently Ranked #7 on the Fortune 500. The CVS/Aetna Merger Potentially Created a Fortune #4 Company with More than $18 Billion in Pro Forma EBITDA. S&P Investment Grade Credit Rating of "BBB" for the Parent Company.
  • Walking Distance to Dallas Regional Medical Center: A 202-Bed Hospital Offering Northeast Texas Residents 24hr ER, Critical Care, Medical, Surgical Care, Imaging and more.
  • Positioned Along Area's Major Retail and Traffic Corridor: Features Easy Access & Excellent Visibility to Combined Daily Traffic Counts Exceeding 26k Vehicles. Strong Performing Store Per Placer.ai: Ranked in the Top 3% of Texas CVS Locations and Top 8% in the Chain.
  • Mesquite has long been Recognized as a Major Retail Area and is Home to the Largest Concentration of Industries on the East Side of the Dallas/Fort Worth Metroplex.

Investment Overview

Part of the Dallas-Fort Worth Metropolitan Statistical Area, the city of Mesquite, Texas is a suburb approximately eleven Miles east of Dallas, Texas. Mesquite is positioned at the crossroads of three major interstates (I-30, I-635, I-20) allowing for ease of accesses for residents and visitors alike. Mesquite is known as the rodeo capital of Texas. The town received the 2016 Playful City USA designation and is perennially named Tree City USA by National Arbor Day Foundation. Mesquite has a thriving growing economy driven primarily by construction and extraction, manufacturing, and transportation. The Dallas–Fort Worth–Arlington metropolitan statistical area’s population was 7,573,136 according to the U.S. Census Bureau’s 2019 population estimates, making it the most populous metropolitan area in both Texas and the Southern United States, the fourth-largest in the U.S., and the tenth-largest in the Americas. In 2016, the Dallas–Fort Worth metroplex had the highest annual population growth in the United States.

Exclusively Listed By

Broker of Record

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    License(s): TX: 0606255

    Texas

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