CVS Porter, TX/Porter
TX

Offering Summary

GENERAL

Property Address

23865 FM 1314, Porter, TX 77365

Property Type

Absolute NNN

Buliding size

12,900 ± SF

Land Acreage

FINANCIAL

Price

$6,503,131

Cap Rate

6.10%

Current NOI

$396,691

LEASE

Lease Term

17 years

Lease Expiration

2034-07-31

Overview

  • Built in 2008 - 25 Year Base term with 17 Years Remaining with 10 Five (5) Year Options - Absolute NNN Zero LL responsibilities - Investment Grade Tenant - 3 Year Rent Holiday - Buyer to receive at closing Full Credit in the amount of $1,190,073
  • CVS Health Corp together with its subsidiaries is one of the largest pharmacy health care providers in the United States - CVS is unique among the big retail drugstore chains in that it operates its own pharmacy benefit management, and is thus, an integrated pharmacy health care provider
  • Porter is an unincorporated community in Montgomery County in southeastern Texas within the Houston–Sugar Land–Baytown metropolitan area. Porter is north of the Kingwood area of Houston. This community's background lies in the sawmill and agriculture industries. Located on the Texas and New Orleans Railroad, the community was originally caller Porter Mill after the first sawmill in the area. Porterwood Shopping Center now occupies the site of the sawmill.