3711 E Frank Phillips Blvd - Drug Store FOR SALE


Bartlesville, OK 74006
$6,921,762 USD
303-808-6311
3711 E Frank Phillips Blvd, Bartlesville, OK for Sale
$6,921,762 USD
Drug Store - FOR SALE
1/1
null | 6.5% Cap Rate

3711 E Frank Phillips Blvd
Bartlesville, OK 74006


HIGHLIGHTS

  • Corporate-Backed Long-Term Lease – 25-year lease executed in 2014 with approximately ±14 years remaining on the initial term
  • Absolute NNN Lease Structure – Zero landlord responsibilities for operating or capital expenses
  • Attractive Rental Increases – Rare 10% rent increases at each of the six (6), five-year renewal options
  • Investment-Grade Tenant – CVS Health provides secure, predictable cash flow backed by a nationally recognized healthcare operator

OVERVIEW

This offering features a 13,225 SF freestanding CVS Pharmacy with drive-thru, built in 2014 and positioned at a prime signalized hard corner along US-75 and Frank Phillips Blvd in Bartlesville, OK. Backed by a corporate CVS lease with ±14 years remaining, the property provides passive, absolute NNN income with no landlord responsibilities. The site benefits from strong traffic, proximity to a major regional medical center, and adjacency to two established retail centers, ensuring consistent prescription and retail demand. Optional 3.82% assumable financing enhances the investment’s cash-on-cash return profile. Investment highlights -Strategically Positioned at Signalized Hard Corner Along Primary Retail Corridor – The property is located at the signalized intersection of State Highway US-75 (Washington Boulevard) and Frank Phillips Boulevard, the area’s primary retail and commuter corridor, with combined daily traffic counts exceeding 35,900 vehicles, providing exceptional visibility and exposure. -Nearest National Pharmacy to Regional Medical Center – The subject property is the closest CVS and national pharmacy chain to Ascension St. John Jane Phillips Medical Center, a 114-bed regional hospital spanning more than 22 acres across six buildings and recognized among the nation’s Top 100 Hospitals. -Positioned Directly in Front of Turkey Creek Shopping Center – Located immediately in front of the 114,357-square-foot Shops at Turkey Creek, a fully redeveloped neighborhood shopping center (formerly K-Mart) anchored by Dollar Tree, Five Below, Burkes Outlet, and Ollie’s Bargain Outlet, generating consistent daily consumer traffic. -Employer-Driven Prescription Demand – Bartlesville’s largest employers, Phillips 66 and ConocoPhillips, utilize CVS Caremark for pharmacy benefit management services, supporting recurring prescription volume and long-term demand fundamentals. -Limited Pharmacy Competition – The property benefits from a highly constrained competitive landscape, with no other freestanding CVS locations within a 36-mile radius and only two Walgreens locations within the immediate trade area. -Adjacent to Eastland Shopping Center – Located next to the 445,731-square-foot Eastland Shopping Center, an open-air retail destination anchored by Hobby Lobby, Planet Fitness, and Big Lots, alongside national tenants including Chick-fil-A, US Cellular, Scooter’s Coffee, and State Farm. -Excellent Ingress & Egress – The signalized hard-corner location provides multiple access points along both Washington Boulevard and Frank Phillips Boulevard, allowing convenient ingress and egress from all traffic patterns. -Strong Residential Consumer Base – The property serves a stable population of more than 34,291 residents within a three-mile radius, encompassing approximately 15,936 housing units, supporting consistent pharmacy and convenience retail demand.

FOR SALE DETAILS

PRICE

$6,921,762 USD

PRICE/SF

$523 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug 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
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.