Lease Expiration: 01/31/2024 Lease Type: NN Rental Increases: None
Sands Investment Group is Pleased to Present For Sale the CVS Pharmacy Double Net Lease Located in Lindale, Texas. This Deal Includes Just Under 2 Years of Term Remaining at a Price Well Below Its Replacement Cost. This Property Provides a New Owner With an Opportunity to Purchase an Essential Business With a Corporate Guarantee and Highly Replaceable Rent.
Investment Grade Tenant (S&P: BBB) With Corporate Guarantee
Strong Corporate Guarantee – CVS Health Corp; Reported Revenues of Over $292 Billion For FY 2021
Current Annual Rent of $14.43 is Very Replaceable and Below the Chainwide Average, Improving Likelihood of Renewal
Full-Service Location With Drive-Thru
Essential Business Being Offered Well Below Its Replacement Cost
Zero National Competition Within 11-Miles of the Store
Located Directly Off of S Main Street Which is a Main Retail and Commuter Thoroughfare
Area Features an Affluent Residential Community With an Average Household Income of Over $84,237 Within a 3-Mile Radius
Highly Visible Location Seeing Over 24,230 VPD
Nearby Tenants Include: AutoZone, Little Caesar’s, O’Reilly Auto Parts, Whataburger, Sonic and Much More
In Cooperation With Sands Investment Group Austin, LLC Lic. #9004706 BoR: Max Freedman Lic. # 644481
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Tenant Overview
CVS Pharmacy is the second largest pharmacy chain in the United States. We hold more than 9,900 retail locations as of December 31, 2021 and expect to close 900 over the course of 2022 through 2024 as announced on November 18, 2021. The company was founded in Lowell, Massachusetts and originally named the Consumer Value Store. CVS Pharmacy is currently the largest pharmacy chain in the United States by number of locations and total prescription revenue. As the retail pharmacy division of CVS Health, it ranks as the 12th largest company in the world serving 5 million customers each day.
CVS sells prescription drugs and a wide assortment of general merchandise including over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards, and convenience foods through their CVS Pharmacy and Longs Drugs retail stores. It also provides healthcare services to more than 1,100 MinuteClinic medical clinics in 33 states including the District of Columbia. As a pharmacy innovation company, CVS focuses on charitable giving in ways that will help people on their path to better health by improving health outcomes and building healthier communities. Their in-store fundraising campaigns, in-kind donations and corporate grants provide support for national nonprofit partners that are focused on helping people on their path to better health.