New CVS Pharmacy- North Dallas Suburb | 129 Shahan Prairie Rd
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New CVS Pharmacy- North Dallas Suburb 129 Shahan Prairie Rd
14,200 SF Retail Building Oak Point, TX 75068 £6,097,070 (£429/SF) 5.15% Net Initial Yield
Investment Highlights
- Absolute NNN lease with over 21+ years remaining and no rent holiday
- Large 2.48 acre lot strategically situated on the hard corner of the signalized intersection of FM 720 and Shahan Prairie Road
- Excellent demographics with an average household income over $134,000 and nearly 35,000 population within 3 miles of the property
- 10% rent increase every 5 years at the start of each renewal option
- High growth, affluent North Dallas trade area with numerous new residential communities recently built and currently under construction
- Located just south of US Highway 380 providing direct freeway access to the Dallas Fort Worth Metroplex
Executive Summary
Cushman and Wakefield is pleased to present a 14,698± square foot freestanding CVS Pharmacy retail store with drive-thru pharmacy located in Fort Worth, Texas leased until January 31, 2046, with 21+ years of primary term remaining.
The CVS property is located on the busy intersection of FM 720 and Shahan Prairie Road, just south of US Highway 380 (54,790 VPD). Surrounding demographics are excellent with average household income over $134,200 and population of nearly 35,000 within 3 miles. Tenants in the immediate area include 7-Eleven, Starbucks, McDonald’s, and PNC Bank, in addition to several new residential communities recently built and under construction. FM 720 runs north/south through Oak Point connecting with US 380 to the north and El Dorado Parkway to the south, which further connects with Little Elm and Frisco. U.S. Highway 380 is a major east/west arterial that connects to Denton, McKinney and to the larger Dallas/Fort Worth metroplex. The property is 30 minutes from DFW airport, and 40 minutes from downtown Dallas.
The CVS property is located on the busy intersection of FM 720 and Shahan Prairie Road, just south of US Highway 380 (54,790 VPD). Surrounding demographics are excellent with average household income over $134,200 and population of nearly 35,000 within 3 miles. Tenants in the immediate area include 7-Eleven, Starbucks, McDonald’s, and PNC Bank, in addition to several new residential communities recently built and under construction. FM 720 runs north/south through Oak Point connecting with US 380 to the north and El Dorado Parkway to the south, which further connects with Little Elm and Frisco. U.S. Highway 380 is a major east/west arterial that connects to Denton, McKinney and to the larger Dallas/Fort Worth metroplex. The property is 30 minutes from DFW airport, and 40 minutes from downtown Dallas.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,200 SF
Building Class
B
Year Built
2021
Price
£6,097,070
Price Per SF
£429
Net Initial Yield
5.15%
NOI
£314,008
Tenancy
Single
Number of Floors
1
Building FAR
0.13
Lot Size
2.48 AC
Zoning
NEC - Commercial
Amenities
- Signage
- Roof Lights
- Drive Thru
- Storage Space
- Air Conditioning
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £11,111,878 | |
| Land Assessment | £4,163,865 | Total Assessment | £15,275,743 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£4,163,865
Improvements Assessment
£11,111,878
Total Assessment
£15,275,743
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New CVS Pharmacy- North Dallas Suburb | 129 Shahan Prairie Rd
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