4801 S Alameda - Drug Store FOR SALE


Corpus Christi, TX 78412- Bay Area
$3,825,000 USD
619-297-0055
4801 S Alameda, Corpus Christi, TX for Sale
$3,825,000 USD
Drug Store - FOR SALE
1/3
null | 6% Cap Rate

4801 S Alameda
Corpus Christi, TX 78412
Bay Area


HIGHLIGHTS

  • This CVS lease has no rent holiday featured and has over 11 years of guaranteed rent before the next option.
  • Absolute NNN lease with 10% rental increases at the first 2 (5 year) options.
  • Located approximately 2.2 miles from Texas A&M University–Corpus Christi, with 10,855 students and employing over 700 faculty and staff.
  • Close proximity to Naval Air Station Corpus Christi, the largest employer in the area, providing approximately 5,525 jobs.
  • Positioned along South Alameda Street with visibility to over 36,000 vehicles per day, serving over 193,000 residents within a five-mile radius.
  • Close to 4 major hospitals totaling 1,182 beds.

OVERVIEW

We are pleased to offer for sale the CVS Pharmacy property located at 4801 S Alameda Street, Corpus Christi, TX 78412 (“The Property”). This offering represents a secure, passive investment featuring an absolute triple-net (NNN) lease with zero landlord responsibilities. CVS has operated at this location since 1998 and has a firm lease term until 2037 before the 5 (five year) renewal options. The first two options include 10% rental increases. In 2012, CVS did a rare early 25 year lease extension giving the Property guaranteed income until 2037 showing commitment to the location. There are 4 major hospitals within 3.5 miles of the Property totaling nearly 1,200 beds bolstering the surrounding employment base. Nearby hospitals include Corpus Christi Medical Center-Doctors Regional (250 beds and .5 miles away), Driscoll Children’s Hospital (225 beds & .6 miles away), CHRISTUS Spohn Hospital – Shoreline (549 beds & 2.5 miles away) and CHRISTUS Spohn Hospital – South (158 beds & 3.6 miles away). The surrounding area is further supported by other major employers, including the Naval Air Station Corpus Christi (5,525 civilian employees), Corpus Christi Independent School District (5,178 employees), and CHRISTUS Spohn Health System (5,144 employees), providing strong economic fundamentals and long-term market stability. The Property is also near several educational institutions, including Texas A&M University–Corpus Christi (approximately 2.2 miles; 10,855 students), Richard King High School (1.5 miles), Cullen Place Elementary (1.2 miles), and Windsor Park Elementary (0.3 miles). Listed in conjunction with Brian Brockman, Bang Realty - Texas Inc, 513-898-1551, wg@bangrealty.com, TX DRE Lic. 701472.

FOR SALE DETAILS

PRICE

$3,825,000 USD

PRICE/SF

$337 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

±12 Year CVS | No Rent Holiday | 10% Incrs

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

41

LAND DETAILS

LAND ACRES

1.44 AC

LAND SF

62,726 SF

ZONING

B-1

APN/PARCEL ID

200094589

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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