7101 E William Cannon Dr - Retail FOR SALE


Austin, TX 78744- Southeast Austin
$6,874,000 USD
415-713-8578
7101 E William Cannon Dr, Austin, TX for Sale
$6,874,000 USD
Retail - FOR SALE
1/8
null | 5.5% Cap Rate

7101 E William Cannon Dr
Austin, TX 78744
Southeast Austin


HIGHLIGHTS

  • Absolute NNN, corporately guaranteed lease with over 16 years remaining (no rent holiday), and rare 10% rent increases at the start of each renewal
  • Large 3.15-acre lot on the hard corner of the signalized intersection of E William Cannon Drive and McKinney Falls Parkway
  • Outstanding demographics with average household income over $175,000 within one mile and over 58,700 population within 3 miles
  • CVS Health Corporation is ranked #5 on the Fortune 500 with $373 billion in 2024 revenues, and rated ‘BBB’ investment-grade by S&P
  • CVS operates over 9,000 retail drugstores and over 1,000 healthcare clinics located in 49 states, Puerto Rico, and the District of Columbia
  • 25-minute drive from downtown Austin and 15 minutes from Austin International Airport

OVERVIEW

Cushman & Wakefield is pleased to exclusively offer a recently constructed 14,698± SF freestanding CVS Pharmacy with drive-thru in affluent Austin, Texas, leased through January 31, 2042, with over 16 years remaining on an absolute NNN lease (no rent holiday) with rare 10% rent increases at the start of each of the six 5-year renewal options. Surrounding demographics are outstanding with average household income over $175,000 within one mile and over 58,700 population within 3 miles. Strategically located at the signalized intersection of E William Cannon Drive and McKinney Falls Parkway, the property is part of Easton Park, a master-planned community featuring 5,660 single-family homes, 2,320 townhomes, 6,370 multifamily units, 3.8M SF of commercial space, a hospital, and an 850-room hotel. Neighboring retailers in the intersection include Chick-fil-A, McDonald’s, Dutch Bros, Panda Express, AutoZone, and a new H-E-B in development, with numerous additional retail projects in planning. Adjacent to Easton Park, Goodnight Ranch will add over 4,500 residential units, schools, and 1.26M SF of retail. South Austin is experiencing explosive growth, with thousands of residential and commercial units planned or under construction. Tesla’s 10M SF Gigafactory, employing 22,700+ workers, is just 13 miles away. McKinney Falls Parkway and E William Cannon Drive offer excellent regional connectivity, linking to Highway 183, I-35, Austin–Bergstrom International Airport (15 minutes), and downtown Austin (25 minutes).

FOR SALE DETAILS

PRICE

$6,874,000 USD

PRICE/SF

$546 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS Pharmacy

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.15 AC

LAND SF

137,301 SF

ZONING

-

APN/PARCEL ID

952455

ASK ABOUT THIS PROPERTY

Christopher SheldonCushman & WakefieldMore Info
415-713-8578

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Christopher SheldonCushman & WakefieldMore Info
415-713-8578

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