Investment Offering
Cleburne, TX - CVS Leasehold
614 W. Henderson St | Cleburne, TX 76033
$2,323,299
Price7.4%
Cap Rate$171,924
NOI2010
Year Built100%
Occupancy13,000
± SF Offering GLA1.44
± AC Land AreaDescription
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.
Location
The CVS is located near the signalized, hard-corner intersection of W. Henderson Street and Prairie Avenue, with a combined traffic count of approximately 32,600 VPD. W. Henderson Street is a primary commercial thoroughfare serving the city of Cleburne. The CVS is adjacent to an H-E-B grocery store with H-E-B fuel and is directly across from several quick-service restaurant pads, including Chipotle, Taco Bell, Chick-fil-A, and Jack in the Box, all of which draw consistent traffic to the immediate area. The asset is less than 2 miles from a 196,364-square-foot Walmart Super center and Nolan River Mall, a 211,000-square-foot Kroger-anchored center featuring Tractor Supply Co., Ollie’s Bargain Outlet, Beall’s, and a Raising Cane’s pad. The subject property is also in close proximity to Cleburne Regional Airport and Cleburne High School, which currently enrolls approximately 1,900 students. The 5-mile trade area is supported by a population of over 41,000, with an average household income of $87,617.
Documents & Links
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 Offering Memorandum |  |  |