CVS Regional Office - EXP Realty Advisors Regional Office - Richland Hills, TX.pdf · INVESTMENT...
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Phone: 212.972.7457 Fax: 212.686.0078 [email protected] www.exp1031.com Price: $2,555,612 l NOI: $242,783 | CAP: 9.50% CVS Regional Office 4808 Davis Boulevard – Ft. Worth, TX 76180 100% leased to CVS Corp. (S&P BBB+) Located less than a mile from the 1,671,000 square foot North East Mall, anchored by Macy’s, Nordstrom's, JC Penny, Dick’s Sporting Goods, Sears, Dillard’s and Rave Motion Pictures Area retailers include Best Buy, Mattress Firm, Office Depot, and Barnes & Noble. Over 107,000 people are located within a 3-mile radius of the property with an average household income that exceeds $70,000 The Property has access from two streets with combined traffic counts of 60,683 vpd CVS uses this former Eckerd’s as a regional office because of its excellent highway access The property is 14 miles from downtown Ft. Worth & 25 miles from downtown Dallas Subject Property
Transcript of CVS Regional Office - EXP Realty Advisors Regional Office - Richland Hills, TX.pdf · INVESTMENT...
Phone: 212.972.7457 Fax: 212.686.0078 [email protected] www.exp1031.com
Price: $2,555,612 l NOI: $242,783 | CAP: 9.50%
CVS Regional Office
4808 Davis Boulevard – Ft. Worth, TX 76180
100% leased to CVS Corp. (S&P BBB+)
Located less than a mile from the 1,671,000 square foot North East Mall, anchored by Macy’s, Nordstrom's,
JC Penny, Dick’s Sporting Goods, Sears, Dillard’s and Rave Motion Pictures
Area retailers include Best Buy, Mattress Firm, Office Depot, and Barnes & Noble.
Over 107,000 people are located within a 3-mile radius of the property with an average household income
that exceeds $70,000
The Property has access from two streets with combined traffic counts of 60,683 vpd
CVS uses this former Eckerd’s as a regional office because of its excellent highway access
The property is 14 miles from downtown Ft. Worth & 25 miles from downtown Dallas
Subject Property
INVESTMENT OVERVIEW
Whisper Valley Ranch
Investment Overview
This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Regional Office
Investment Overview
PROPERTY OVERVIEW: EXP Realty Advisors exclusively presents for sale this CVS located at the intersection of Davis Boulevard and Grapevine Highway, just off of I-820. I-820 is a loop of Interstate 20 in Fort Worth. I-820 experiences traffic counts of over 150,000 vehicles per day. The Property is a 10,908 square foot freestanding facility 100% leased to CVS Corp. as a regional office for an original term of 20 years commencing in 1997, with four, 5-Year options. The lease is NNN and the tenant is responsible for all property expenses, including roof and structure. The property was originally build as an Eckerd’s pharmacy. When CVS acquired the property it was converted to a regional office for CVS. The property has excellent highway access and is convenient to many parts of the Dallas Ft Worth MSA. Richland Hills is a suburb of Ft. Worth and Dallas, located just 14 miles from the heart of Ft. Worth, and 25 miles from the heart of Dallas. Retailers located in the area include the 1,671,000 square foot North East Mall, anchored by Macy’s, Nordstrom’s, JC Penny, Dick’s Sporting Goods, Sears, Dillard’s and Rave Motion Pictures plus 140 specialty shops. Other retailers include Best Buy, Petco, Office Depot, and Garden Ridge, Barnes & Nobel, Old Navy, and PetSmart.
LOCATION OVERVIEW: Richland Hills, located in Tarrant County, is part of the Dallas-Ft. Worth Metroplex area, the 4th largest metropolitan area in the United States. Dallas is the 3rd largest city in Texas, and 9th largest city in the United States, while Ft. Worth is the 16th largest city in the United States. In 2009, The Metroplex gained almost 150,000 new residents, more than any other metropolitan area in the country. The Dallas/Ft. Worth International Airport is located only 12 miles away. The Dallas/Ft. Worth International Airport is the 4th busiest airport in the world. The site and also located across the highway from the North Hills Surgery Center and Hospital Complex. LEASE SUMMARY: Current Rent: $242,783 ($22.26 psf) Expiration Date: July 22, 2017 Options: Four, 5-year options at $248,237, $253,691, $259,145, & $264,599 Lease Type: Absolute Triple Net TENANT OVERVIEW: CVS Corp. (NYSE: CVS | S&P: BBB+) CVS Caremark Corporation is an integrated pharmacy services provider, combining a United States pharmaceutical services company with a U.S. pharmacy chain. CVS Caremark provides pharmacy services through its over 7,000 CVS/pharmacy and Longs Drugs stores; its pharmacy benefit management, mail order and specialty pharmacy division, Caremark Pharmacy Services; its retail-based health clinic subsidiary, MinuteClinic; and its online pharmacy, CVS.com. CVS Caremark Corporation is chartered in Delaware, and is headquartered in Woonsocket, Rhode Island, where its pharmacy business is also headquartered. The pharmacy services business is headquartered in Nashville, Tennessee. The company was #18 in the 2010 Fortune 500 list of the largest companies in the U.S., and is the largest company that has operations solely in the United States.
INVESTMENT SUMMARY
Price: $2,555,612
CAP Rate: 9.50%
NNN Rent: $242,783
Bld. Sq Ft: 10,908 sf
Land Size: 1.256 ac
Parking: 75 parking spaces
Drive Thru: Two
Lease Type: Triple Net Lease
Subject Property
Whisper Valley Ranch
Area History
PROPERTY PHOTOGRAPH This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Regional Office
Property Photograph
Subject Property
Whisper Valley Ranch
Area History
AERIAL PHOTOGRAPH This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Regional Office
Aerial Photograph
Whisper Valley Ranch
Area History
AERIAL PHOTOGRAPH This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Regional Office
Aerial Photograph
North East Mall
Whisper Valley Ranch
Area History
AERIAL PHOTOGRAPH This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Regional Office
Aerial Photograph
Whisper Valley Ranch
Area History
FLOOR PLAN This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Regional Office
Floor Plan
Whisper Valley Ranch
Property Line Map
CVS Regional Office
Location Map
LOCATION MAP This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Regional Office
Location Map
LOCATION MAP This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
DEMOGRAPHIC DATA This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy.
It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.
Whisper Valley Ranch
Property Line Map
CVS Regional Office
Demographic Data
Contact Us
EXP Realty Advisors 118 East 28th Street
Suite #901 New York, NY 10016
Phone: (212) 972-7457 Fax: (212) 686-0078 www.exp1031.com
Our Team
Robert P. James President
Phone: (212) 972-7457 Email: [email protected]
Daniel de Sa‘
Director of Sales Phone: (212) 972-7457
E-mail: [email protected]
Radius 3 Mile 5 Mile 10 Mile
Population:
2015 Projection 107,477 282,203 956,374
2010 Estimate 100,933 263,604 876,711
2000 Census 91,153 234,113 716,782
Growth 2010-2015 6.50% 7.10% 9.10%
Growth 2000-2010 10.70% 12.60% 22.30%
2010 Population By Hispanic Origin: 21,679 53,596 234,636
2010 Population by Race:
White 78,819 198,057 582,766
Black or African American 4,590 18,716 110,257
American Indian and Alaska Native 888 2,094 6,503
Asian 3,715 12,653 40,569
Native Hawaiian and Pacific Islanders 372 784 2,564
Other Race 9,224 22,714 105,526
Two or More Races 3,326 8,587 28,527
2010 Households:
2015 Projection 41,612 106,569 353,145
2010 Estimate 39,132 99,813 324,270
2000 Census 35,467 89,383 268,619
Growth 2010-2015 6.30% 6.80% 8.90%
Growth 2000-2010 10.30% 11.70% 20.70%
Owner Occupied 23,075 61,498 185,612
Renter Occupied 16,058 38,314 138,659
2010 Avg Household Income $70,271 $76,637 $75,617
2010 Med Household Income $62,513 $65,743 $61,536
2010 Per Capita Income $27,428 $29,088 $28,152
2010 Households by Household Inc:
Income Less than $15,000 2,162 5,402 27,901
Income $15,000 - $24,999 2,513 6,102 23,006
Income $25,000 - $34,999 2,936 6,999 25,647
