Absolute NNN Retail
For Sale
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2180 WOODFOREST PKWY N, Montgomery, TX
Fee-simple retail investment leased to CVS under an absolute NNN structure with no landlord responsibilities.
Property Size14,600 SF
Lot Size2.26 Acres
Price / SF$554.54
Days on Market50
Property Features for 2180 WOODFOREST PKWY N
General Information
Standard status
Active
Size
14,600 SF
Lot size
2.26 Acres
Property subtype
Retail
Building Details
Year Built
2015
Tenancy
Single
Listing Agency:
Cushman & Wakefield - San Diego, California
Listed By:
Blake Tagmyer · License #CA 01912759
(858) 558-5670
Source:
Crexi
Added: Sep 14
Changed: Oct 30
Last Checked: Nov 1 at 5:20AM
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
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Investment Insights
Based on property information with market context.
This fee-simple retail property is occupied by CVS in a 14,600-square-foot building completed in 2015. The asset sits on approximately 2.26 acres and is subject to an absolute NNN lease, with CVS responsible for the property obligations assigned under that structure and no landlord responsibilities identified. Approximately 14 years remain in the initial term, followed by five additional five-year renewal options that could extend occupancy through January 2066.
The property is located within Woodforest, a 3,000-acre master-planned community with approximately 5,000 homes, 14,000 residents, and 90 acres of commercial development. Its Montgomery setting provides proximity to The Woodlands and Lake Conroe. Contractual rent growth includes an approximately 8.2% increase at the start of the first renewal option and 5% increases when each subsequent option begins.
The property is located within Woodforest, a 3,000-acre master-planned community with approximately 5,000 homes, 14,000 residents, and 90 acres of commercial development. Its Montgomery setting provides proximity to The Woodlands and Lake Conroe. Contractual rent growth includes an approximately 8.2% increase at the start of the first renewal option and 5% increases when each subsequent option begins.
Key Highlights
- CVS occupancy under an absolute NNN lease
- 14,600‑square‑foot building completed in 2015
- Approximately 2.26‑acre site in Montgomery, TX
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$258,007
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,160,140
$5.2M
Cap Rate 7%
$3,685,814
$3.7M
Cap Rate 9%
$2,866,744
$2.9M
Market Conditions
NOI Build-Up for 14,600 SF
Gross rent
$364.4K $24.96/SF
− Vacancy
−$20.4K −$1.40/SF
EGI
$344.0K $23.56/SF
− OpEx
−$86.0K −$5.89/SF
NOI
$258.0K $17.67/SF
Area
Montgomery County, TX
Vacancy
5.60%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,160,140
Cap Rate 7%
$3,685,814
Cap Rate 9%
$2,866,744
Alternative Uses
Best Use
Specialty Retail
$3.69M
$3.23M – $4.30M
NOI $258,007 @ 7.0% cap · market cap 3.19%
Second Best
Retail
$2.83M
$2.47M – $3.30M
NOI $197,970 @ 7.0% cap · market cap 2.45%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
527
Businesses Nearby
66k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 36%
Groceries 17%
Electronics 1%
McDonald's
Dining
22,531 visits/mo
0.1 miles
Valero Energy
Shops & Services
11,961 visits/mo
0.0 miles
Brookshire Brothers
Groceries
11,515 visits/mo
0.1 miles
Exxon
Shops & Services
6,263 visits/mo
0.1 miles
Woodforest National Bank
Shops & Services
5,433 visits/mo
0.2 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
NNN property - Fee-simple retail investment leased to CVS under an absolute NNN structure with no landlord responsibilities.
Where is this nnn property located?
The property is located at 2180 WOODFOREST PKWY N Montgomery, TX.
What is the asking price?
The asking price for this property is $8,096,264.
What are key features of this property?
This property features: CVS occupancy under an absolute NNN lease; 14,600‑square‑foot building completed in 2015; Approximately 2.26‑acre site in Montgomery, TX
