2180 Woodforest Pky N - Drug Store FOR SALE


Montgomery, TX 77316
$8,096,264 USD
303-808-6311
2180 Woodforest Pky N, Montgomery, TX for Sale
$8,096,264 USD
Drug Store - FOR SALE
1/4
null | Request Cap Rate

2180 Woodforest Pky N
Montgomery, TX 77316


OVERVIEW

Cushman & Wakefield’s National Net Lease Group is pleased to present the opportunity to acquire a fee-simple CVS located in Montgomery, Texas. Built in 2015, the 14,600-square-foot property is situated on approximately 2.26 acres and operates under an absolute NNN lease with CVS, providing passive ownership with no landlord responsibilities. Approximately 14 years remain on the initial lease term, followed by five additional five-year renewal options that could extend occupancy through January 2066. The lease provides contractual rental growth, including an approximately 8.2% increase at the beginning of the first renewal option and 5% increases at the commencement of each remaining option. The property is strategically positioned within Woodforest, a growing 3,000-acre master-planned community containing approximately 5,000 homes, 14,000 residents and 90 acres of commercial development. Its location near The Woodlands and Lake Conroe provides access to one of the fastest-growing and most affluent portions of the greater Houston metropolitan area. Corporate-Backed Absolute NNN Lease The lease is guaranteed by CVS and structured on an absolute NNN basis, with the tenant responsible for taxes, insurance, maintenance, roof and structure—providing passive ownership with no landlord responsibilities. Approximately 14 Years Remaining The initial lease term extends through January 31, 2041, providing long-term contractual income from one of the nation’s leading healthcare companies. Five Five-Year Renewal Options The lease includes five additional five-year renewal options that could extend CVS’s occupancy through January 2066. Contractual Rental Growth Annual rent increases approximately 8.2% at the beginning of the first renewal option, followed by 5% increases at the commencement of each remaining option. Investment-Grade Corporate Credit CVS Health maintains an investment-grade credit rating and operates one of the country’s largest integrated healthcare and retail pharmacy platforms. Strategic Woodforest Location The property is located within Woodforest, a highly desirable 3,000-acre master-planned community featuring approximately 5,000 homes, 14,000 residents and 90 acres of commercial development. High-Growth Montgomery County Montgomery County is among the fastest-growing counties in the Houston metropolitan area, benefiting from significant population growth, residential development and strong household demographics. Proximity to Major Demand Drivers The property is conveniently positioned near The Woodlands and Lake Conroe, providing access to established employment centers, affluent residential communities and year-round recreational demand.

FOR SALE DETAILS

PRICE

$8,096,264 USD

PRICE/SF

$555 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, undefined

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

SPRINKLERS

-

PARKING SPACES

43

LAND DETAILS

LAND ACRES

2.26 AC

LAND SF

98,445 SF

ZONING

-

APN/PARCEL ID

0136-00-00202

ASK ABOUT THIS PROPERTY

Blake TagmyerCushman & WakefieldMore Info
303-808-6311

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Blake TagmyerCushman & WakefieldMore Info
303-808-6311

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.