31013 Fm 2920 Rd, Waller, TX 77484
13,813 SF | Retail Building | Waller, TX 77484 | $4,200,000 ($304/SF) | 6.41% Cap Rate
For Sale
Active
Asking Price $4,200,000
- Property Type
-
Retail
- Square Feet
- 13,813 SF
- Price / Square Foot
- $304
Listing Contacts
Brandon Perez
- Property Info
Property Overview
- Investment Grade Credit: Lease is guaranteed by CVS (NYSE: CVS), with a market cap of $94 billion and over 9,000 stores across the country.
- Long Operating History: CVS has been operating at this location for nearly 20 years, with an additional 20 years of option periods.
- Limited Competition: This is the only national drugstore in town. The next closest CVS property is located over 12 miles away and closest Walgreens over 13 miles away.
- Income Tax Free State: Texas is one of nine states with no state income tax.
- Passive Ownership: CVS is operating on a NNN lease, with no landlord responsibilities, offering a passive income stream.
- Location: Easy access on and off Highway 290. Located about 45 minutes outside of Houston along Highway 290, CVS sees a combine VPD 50,000+ at the intersection of FM 2920 Rd and Hwy 290. There are multiple hotels, quick service restaurants and service stations located directly across the street, which continue to drive traffic around the store.
- Key Developments: “Beacon Hill is a pristine 587 acres of land located in the City and County of Waller, TX directly on the north side of U.S. 290. 270 acres of the tract have been purchased by Long Lake Ltd., one of the most active home builders in the Houston market, for their newest master-planned community. On the southern 317 acres abutting the freeway, Wolff Companies is developing a business park with uses ranging from light industrial and distribution to office, multifamily, and retail.”
“In addition to Long Lake, other respected master-planned community developers announced substantial projects in the area, including Lakeview, Bridgeland, Dunham Point, Bold Fox, Jubilee, Towne Lake, and Cypress Green, all of which will drive growth in the 290 Corridor. Supported by an excellent school district and the business-friendly climate in the City and County of Waller, Wolff Companies believes that the region is set for decades of high-quality growth and development” – (Wolff Companies)
Broker of Record
Patrick Graham
License No. 9005919 (TX)
(866) 889-0550
Matthews Real Estate Investment Services
8300 Douglas Ave.,
Ste. 750, Dallas, TX 75225
- Long Operating History: CVS has been operating at this location for nearly 20 years, with an additional 20 years of option periods.
- Limited Competition: This is the only national drugstore in town. The next closest CVS property is located over 12 miles away and closest Walgreens over 13 miles away.
- Income Tax Free State: Texas is one of nine states with no state income tax.
- Passive Ownership: CVS is operating on a NNN lease, with no landlord responsibilities, offering a passive income stream.
- Location: Easy access on and off Highway 290. Located about 45 minutes outside of Houston along Highway 290, CVS sees a combine VPD 50,000+ at the intersection of FM 2920 Rd and Hwy 290. There are multiple hotels, quick service restaurants and service stations located directly across the street, which continue to drive traffic around the store.
- Key Developments: “Beacon Hill is a pristine 587 acres of land located in the City and County of Waller, TX directly on the north side of U.S. 290. 270 acres of the tract have been purchased by Long Lake Ltd., one of the most active home builders in the Houston market, for their newest master-planned community. On the southern 317 acres abutting the freeway, Wolff Companies is developing a business park with uses ranging from light industrial and distribution to office, multifamily, and retail.”
“In addition to Long Lake, other respected master-planned community developers announced substantial projects in the area, including Lakeview, Bridgeland, Dunham Point, Bold Fox, Jubilee, Towne Lake, and Cypress Green, all of which will drive growth in the 290 Corridor. Supported by an excellent school district and the business-friendly climate in the City and County of Waller, Wolff Companies believes that the region is set for decades of high-quality growth and development” – (Wolff Companies)
Broker of Record
Patrick Graham
License No. 9005919 (TX)
(866) 889-0550
Matthews Real Estate Investment Services
8300 Douglas Ave.,
Ste. 750, Dallas, TX 75225
Property Details
- Class
- B
- Year Built
- 2005
- Stories
- 1
- Property Subtype
- Drug Store
- Lot Size (sq. ft)
- 130,680 SF
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