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CVS | 12yrs Corp Abs NNN | DriveThru 8953 Virginia Pky 14,391 SF Retail Building McKinney, TX 75071 $8,418,794 CAD ($585.00 CAD/SF) 6.50% Cap Rate

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EXECUTIVE SUMMARY

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, CVS investment property located in McKinney, Texas. The tenant, CVS Pharmacy, Inc., has approximately 12 years remaining on its lease with 10 (5-year) options to extend, demonstrating their commitment to the site. The lease features flat rent throughout the initial term and variable increases throughout each option period. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Seller will provide a credit for rent holiday.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

14,391 SF

Building Class

Year Built

2011

Price

$8,418,794 CAD

Price Per SF

$585.00 CAD

Cap Rate

6.50%

NOI

$547,240 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.18

Lot Size

1.87 AC

Parking

62 Spaces (4.31 Spaces per 1,000 SF Leased)

Frontage

310’ on Virginia Pkwy

Corner Lot

Signage

Signalized Intersection

Drive Thru

Retailer
99,999 SF
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CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.