3711 E Frank Phillips Blvd - Drug Store FOR SALE


Bartlesville, OK 74006
$7,824,601 USD
858-558-5670
3711 E Frank Phillips Blvd, Bartlesville, OK for Sale
$7,824,601 USD
Drug Store - FOR SALE
1/5
null | 5.75% Cap Rate

3711 E Frank Phillips Blvd
Bartlesville, OK 74006


HIGHLIGHTS

  • Strategically Located at the Signalized Hard Corner Along Area’s Main Retail and Traffic Corridor (Highest Traffic Intersection in Bartlesville)
  • Nearest CVS (and National Pharmacy Chain) to Ascension St. John Jane Phillips Medical Center
  • Situated in Front of Turkey Creek Shopping Center
  • Strategic Location – the largest employers in Bartlesville, Phillips 66 and ConocoPhillips, contract exclusively with CVS Caremark
  • Limited Competition – no free-standing CVS retail store within 36-mile radius including only two Walgreens
  • Adjacent to Eastland Shopping Center – 445,731 SF open-air collection of large format retail anchored by Hobby Lobby, Planet Fitness and Big Lots

OVERVIEW

Built in 2014, this freestanding CVS Pharmacy retail store with drive-thru is 13,225 SF and situated on 2.02 acres at the high traffic intersection of State Highway US-75 (Washington Blvd) and Frank Phillips Blvd in Bartlesville, Oklahoma. CVS’ 25-year lease expires in January 2040, leaving approximately 15 years remaining on the initial lease term. • CVS Health Corporation (NASDAQ: “CVS”) is rated “BBB” investment grade by Standard & Poor’s with a Stable Outlook – over $357 billion in annual revenue and market cap of $101.61 billion as of December 2023 • Corporate Backed Long-Term Lease – CVS signed a 25-year lease, which commenced in 2014, leaving approximately 15 years remaining on the initial lease term • Absolute NNN Lease Structure – Zero landlord responsibilities for operating or capital expenses • Attractive Rent Increases - Rare 10% rent increases between each of the six, 5-year renewal options • CVS is ranked #6 on the 2025 Fortune 500 list – over 9,000 stores and 300,000 employees operating in all 50 states

FOR SALE DETAILS

PRICE

$7,824,601 USD

PRICE/SF

$592 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

38

LAND DETAILS

LAND ACRES

2.02 AC

LAND SF

87,991 SF

ZONING

AA1

APN/PARCEL ID

0023459

ASK ABOUT THIS PROPERTY

Blake TagmyerCushman & WakefieldMore Info
858-558-5670

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Blake TagmyerCushman & WakefieldMore Info
858-558-5670

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