Marcus & Millichap is pleased to offer the opportunity to acquire a 10,862-square foot freestanding building leased to CVS Pharmacy located in San Antonio, Texas. The absolute net lease has no landlord responsibilities and has a corporate guarantee from a subsidiary of a publicly traded company (NASDAQ: CVS). More than three years remain on the primary term, and the tenant has four five-year options for renewal with scheduled rent increases at the beginning of each renewal period. Constructed in 2000, the building is situated on 1.1 acres.
The subject property is located at the signalized hard corner of Culebra Road and Grissom Road, with ingress and egress points from both roads. Cumulative traffic counts are approximately 57,700 vehicles per day. Directly across from the property is an H-E-B grocery-anchored retail center with tenants that include Dollar Tree, Chase Bank, Great Clips, MetroPCS, Cash Store, GNC, Cricket Wireless, Sun Loan Company, H&R Block, Allstate Insurance, First Choice Emergency Room, and AT&T Store. Walmart Supercenter is located to the northwest of the property, and other national retailers in the surrounding area include Jersey Mike’s Subs, Discount Tire Store, Domino’s Pizza, Sonic Drive-In, O’Reilly Auto Parts, McDonald’s, El Pollo Loco, KFC, AutoZone, and Wendy’s. The densely populated area has more than 278,400 residents within five miles, and the average household income is approximately $65,000.
- 10,862-Square Foot Freestanding CVS Pharmacy in San Antonio, TX
- Absolute Net Lease | No Landlord Responsibilities
- Corporate Guarantee from CVS Pharmacy, Inc. (A Subsidiary of CVS Health Corporation)
- Publicly Traded Company (NASDAQ: CVS)
- Over Three Years Remain on the Primary Term
- Tenant has Four Five-Year Options for Renewal
- Rent Bumps Scheduled at the Beginning of Each Option Period
- Tenant Reports Strong Store Sales
- Signalized, Hard Corner Location at Culebra Road and Grissom Road
- Cumulative Traffic Counts are Approximately 57,700 Vehicles per Day
- Directly Across From an H-E-B Grocery-Anchored Retail Development
- Walmart Supercenter is Northwest of the Property
- Densely Populated Area with Over 278,400 Residents Within Five Miles
