Off Market
McKinney, TX - CVS (Virginia Pkwy)
8953 Virginia Pkwy | McKinney, TX 75071
Description
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.
Location
The CVS is located at the signalized, hard-corner intersection of Virginia Pkwy and Custer Rd, combining to average over 96,500 vehicles passing by daily. Custer Rd is a major retail thoroughfare serving the city of McKinney. The property is within walking distance to a 124,000+ square foot Home Depot, which includes outparcels of Chase Bank, Taco Bell and a 16,000+ square foot strip center. The asset is also located directly across from a shopping center that includes Sprouts, LA Fitness, 7-Eleven, Dunkin’, and many more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Lowe’s Home Improvement, H-E-B, Dutch Bros, AutoZone, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 249,500 with an average household income of $187,031.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215