614 W Henderson St - Drug Store FOR SALE


Cleburne, TX 76033
$2,323,299 USD
949-547-2213
614 W Henderson St, Cleburne, TX for Sale
$2,323,299 USD
Drug Store - FOR SALE
1/10
null | 7.4% Cap Rate

614 W Henderson St
Cleburne, TX 76033


HIGHLIGHTS

  • Corporate Guaranteed (NYSE: CVS) Building Lease | Options To Extend | Guaranteed Ground Lease Assigned
  • Absolute NNN | Leasehold Ownership | Zero Landlord Responsibilities
  • Adjacent to HEB Anchored Center | Along Primary Commercial Corridor
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the leasehold interest (building ownership) in an absolute NNN-leased CVS Zero Cash Flow investment property located in Cleburne, Texas (Dallas Fort Worth MSA). The tenant, CVS (NYSE: CVS), has 12 years remaining on its original 25-year lease term, with five (5-year) options to extend, the latter three of which are at fair market rent, demonstrating its long-term commitment to the site. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for an out-of-state investor. The building is currently on a 25-year ground lease with 12 years remaining on the current term and five (5-year) options to renew. The ground lease has been assigned to CVS, further reducing management responsibilities for the leasehold owner.

FOR SALE DETAILS

PRICE

$2,323,299 USD

PRICE/SF

$179 USD /SF

CAP RATE

7.4%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

CVS | NYSE: CVS | Abs NNN Leasehold

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

69

LAND DETAILS

LAND ACRES

1.44 AC

LAND SF

62,726 SF

ZONING

PD

APN/PARCEL ID

126-2941-01010

ASK ABOUT THIS PROPERTY

John RedfieldSRS Real Estate PartnersMore Info
949-547-2213

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John RedfieldSRS Real Estate PartnersMore Info
949-547-2213

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