CVS "Midnight Store"
12,989 SF | Retail Building | South Padre Island, TX 78597 | $11,323,630 ($872/SF) | 5.73% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $11,323,630
- Property Type
-
Retail
- Square Feet
- 12,989 SF
- Price / Square Foot
- $872
Listing Contacts
Brian Brockman
Verified Profile
- Property Info
Property Overview
Absolute Net Bond Lease | Zero Landlord Responsibilities
This Location is a Midnight Store - Indicates a Strong Site Due to Extended Business Hours
The ONLY Retail Pharmacy on South Padre Island - Captive Trade Area
Lease is Corporately Guaranteed by CVS - The Largest Pharmacy Chain in the U.S. | S&P "BBB+" Investment Grade
Build to Suit for CVS with Approximately 12 Years Remaining on the Lease
Located in Texas - Income Tax Free State
Drive Thru Equipped Pharmacy Site
Pride of Ownership South Padre Island Location - One of Texas 'Premier Vacation Destinations with Over 1 Million Visitors Annually
Surrounded by Numerous National Tenants as well as Hotels and Vacation Rentals
This Location is a Midnight Store - Indicates a Strong Site Due to Extended Business Hours
The ONLY Retail Pharmacy on South Padre Island - Captive Trade Area
Lease is Corporately Guaranteed by CVS - The Largest Pharmacy Chain in the U.S. | S&P "BBB+" Investment Grade
Build to Suit for CVS with Approximately 12 Years Remaining on the Lease
Located in Texas - Income Tax Free State
Drive Thru Equipped Pharmacy Site
Pride of Ownership South Padre Island Location - One of Texas 'Premier Vacation Destinations with Over 1 Million Visitors Annually
Surrounded by Numerous National Tenants as well as Hotels and Vacation Rentals
Property Details
- Class
- B
- Year Built
- 2008
- Stories
- 1
- Property Subtype
- Drug Store
- Lot Size (sq. ft)
- 49,658 SF
Highlights
- Absolute Net Bond Lease | Zero Landlord Responsibilities
- This Location is a Midnight Store - Indicates a Strong Site Due to Extended Business Hours
- The ONLY Retail Pharmacy on South Padre Island - Captive Trade Area
- Build to Suit for CVS with Approximately 12 Years Remaining on the Lease
- Located in Texas - Income Tax Free State
- Surrounded by Numerous National Tenants as well as Hotels and Vacation Rentals
Nearby Properties
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