CVS Beaumont, TX

Property Price: $5,000,000
Property Status: Under Contract
Property Type: Retail
Cap Rate: 6.25%
Lease Type: Fee Simple
Tenant Type: Single Tenant
NOI: $312,067
Building Size: 13,013 sf
Land Area: 1.421 acres
Remaining Term: 15 years
Expenses: NNN

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Landes Fairmount Properties is pleased to exclusively offer the opportunity to acquire the fee simple CVS (BBB+) property located in Beaumont, TX. The lease is 100% guaranteed by CVS Caremark Corporation. The subject property opened in January 2006, when CVS began paying rent. CVS operates under bonded twenty-five(25) year lease with approximately sixteen (16) years remaining on the initial lease term. The lease offers ten(10) extension periods, at five(5) years. CVS Caremark Corporation also corporately guarantees the extension periods.

*** Recent Appraisal of $5,730,000 ***

The property is located on the southeast corner of Eastex Freeway and 105. This CVS is within a mile from other large retailers and restaurants including McDonald’s, Exxon, Subway, and an Academy Sports store. The subject CVS is also located less than a mile from Parkdale Mall, the region’s largest shopping mall which includes over 130 retail stores including JC Penney, Dillard’s, Macy’s, and Sears. This property is a proven location for a CVS, providing a viable, long-term investment opportunity.

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Under Contract

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Agent Contact Information

Justin Grissen
Managing Director

Austin Landes
Investment Advisor

Caleb Landes
Investment Advisor

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