Leased CVS Drugstore With Absolute
For Sale
Contact for pricing
150 E Illinois Ave, Dallas, TX 75224
A CVS drugstore backed by an absolute net lease with multiple 5-year renewal options and scheduled 10% rent increases.
Property Size13,054 SF
Days on Market134
Property Features for 150 E Illinois Ave
General Information
Standard status
Active
Size
13,054 SF
Property subtype
Retail
Site & Location
Traffic Count
43,750 vehicles/day
Highway Access
Yes
Listing Agency:
Cushman & Wakefield - San Diego, California
(858) 558-5670
Listed By:
Blake Tagmyer · License #CA 01912759
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 21 at 2:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield - San Diego, California
Investment Insights
Based on property information with market context.
The subject property is a CVS drugstore with a long-term 25-year lease that commenced in October 2016. The lease currently leaves 22 years remaining on the tenant’s initial lease term and includes six, 5-year renewal options with 10% rent increases between each option. The lease is absolute net, providing for zero landlord responsibilities.
The site is positioned at the signalized intersection of East Illinois Avenue and South Beckley Avenue, with visibility along a main traffic artery reporting combined traffic counts in excess of 43,750 vehicles per day. It is also approximately two blocks from Interstate 35, which is reported to experience daily traffic counts in excess of 182,590.
CVS is located less than a half mile from Wynnewood Village, a 443,681-square-foot regional shopping center anchored by Kroger, Ross Dress for Less, Fallas Paredes, and Dollar Tree, among others. Brixmor Property Group is redeveloping the 65-acre shopping center with an estimated project cost of $30 million. National retailers nearby include O’Reilly Auto, 7-11, Aldi, McDonald’s, and AutoZone.
The site is positioned at the signalized intersection of East Illinois Avenue and South Beckley Avenue, with visibility along a main traffic artery reporting combined traffic counts in excess of 43,750 vehicles per day. It is also approximately two blocks from Interstate 35, which is reported to experience daily traffic counts in excess of 182,590.
CVS is located less than a half mile from Wynnewood Village, a 443,681-square-foot regional shopping center anchored by Kroger, Ross Dress for Less, Fallas Paredes, and Dollar Tree, among others. Brixmor Property Group is redeveloping the 65-acre shopping center with an estimated project cost of $30 million. National retailers nearby include O’Reilly Auto, 7-11, Aldi, McDonald’s, and AutoZone.
Key Highlights
- 13,054 SF CVS on an absolute net lease (zero landlord responsibilities)
- 25‑year CVS lease commenced October 2016 with 22 years remaining on the initial term
- Lease includes 10% rent increases between each of six, 5‑year renewal options
Property Analytics
Property Profile
Current Use
Lease Details
43,750 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
219k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 36%
Groceries 7%
Electronics 6%
Cicis
Dining
18,372 visits/mo
0.5 miles
Jack in the Box
Dining
17,541 visits/mo
0.3 miles
La Michoacana Meat Market
Groceries
16,208 visits/mo
0.5 miles
Chase Bank
Shops & Services
16,003 visits/mo
0.5 miles
7-Eleven
Shops & Services
13,976 visits/mo
0.3 miles
Demographics for 75224, TX
33,766
Population
12,438
Households
2.7
Avg Household Size
32
Median Age
15%
College-Educated
69%
High-School Grad
5.7 sq mi
ZIP Area
5,924
Density / Sq Mi
$53,606
Median Household Income
$32,507
Median Earnings
$1,177
Median Rent
$213,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Drug store - A CVS drugstore backed by an absolute net lease with multiple 5-year renewal options and scheduled 10% rent increases.
Where is this drug store located?
The property is located at 150 E Illinois Ave Dallas, TX.
What are key features of this property?
This property features: 13,054 SF CVS on an absolute net lease (zero landlord responsibilities); 25‑year CVS lease commenced October 2016 with 22 years remaining on the initial term; Lease includes 10% rent increases between each of six, 5‑year renewal options
