Freestanding Retail Building at
For Sale
Contact for pricing
2700 West Main Street, League City, TX 77573
Vacant former CVS freestanding building on a signalized hard corner at West Main Street and Landing Boulevard.
Property Size12,268 SF
Lot Size2.10 Acres
Price / SF$325.15
Days on Market64
Property Features for 2700 West Main Street
General Information
Standard status
Active
Size
12,268 SF
Lot size
2.10 Acres
Property subtype
Retail
Zoning
General Commercial
Lease Type
NNN
Additional Details
Cap Rate
6.02%
Traffic Count
35,000 vehicles/day
Building Details
Year Built
2003
Buildings
1
Listing Agency:
Maz Real Estate
Listed By:
Jeries Ganim · License #9014338
Source:
Crexi
Added: Jul 4
Changed: Aug 23
Last Checked: Aug 31 at 4:00AM
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 Maz Real Estate
Investment Insights
Based on property information with market context.
MAZ Real Estate offers the former CVS Pharmacy building at 2700 West Main Street for sale or lease. The property is a vacant, freestanding retail building totaling 12,268 SF on 2.10 acres, positioned to support flexible occupancy options including an owner-user, a single-tenant lease, or a multi-tenant conversion.
The site anchors the signalized hard corner of West Main Street (FM 518) and Landing Boulevard, described as one of the most heavily trafficked intersections in the trade area with approximately 35,000 vehicles per day. The building is located directly across from a Walmart Neighborhood Market and near other established businesses including AutoZone, Chevron, Exxon, Take 5, U-Haul, and Wellby Financial.
With its prominent corner visibility and acreage footprint, the property is presented as suitable for direct retail occupancy or adaptive reuse on a high-profile commercial node.
The site anchors the signalized hard corner of West Main Street (FM 518) and Landing Boulevard, described as one of the most heavily trafficked intersections in the trade area with approximately 35,000 vehicles per day. The building is located directly across from a Walmart Neighborhood Market and near other established businesses including AutoZone, Chevron, Exxon, Take 5, U-Haul, and Wellby Financial.
With its prominent corner visibility and acreage footprint, the property is presented as suitable for direct retail occupancy or adaptive reuse on a high-profile commercial node.
Key Highlights
- 12,268 SF freestanding former CVS pharmacy on 2.10 acres at a signalized hard corner of FM 518 and Landing Boulevard
- Vacant and available for immediate use, including owner‑user, single‑tenant lease, or multi‑tenant conversion
- Offered for sale at $3,989,000 or lease at $20,000 per month NNN
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$210,887
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,217,740
$4.2M
Cap Rate 7%
$3,012,671
$3.0M
Cap Rate 9%
$2,343,189
$2.3M
Market Conditions
NOI Build-Up for 12,268 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$294.4K $24.00/SF
− Vacancy
−$13.2K −$1.08/SF
EGI
$281.2K $22.92/SF
− OpEx
−$70.3K −$5.73/SF
NOI
$210.9K $17.19/SF
Area
League City, TX
Vacancy
4.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,217,740
Cap Rate 7%
$3,012,671
Cap Rate 9%
$2,343,189
Alternative Uses
Best Use
Specialty Retail
$3.01M
$2.64M – $3.51M
NOI $210,887 @ 7.0% cap · market cap 5.29%
Second Best
Retail
$2.55M
$2.23M – $2.97M
NOI $178,212 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$3.73M
$3.27M – $4.35M
NOI $261,215 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
35,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 77573, TX
95,256
Population
37,188
Households
2.6
Avg Household Size
37
Median Age
49%
College-Educated
96%
High-School Grad
29.8 sq mi
ZIP Area
3,197
Density / Sq Mi
$122,783
Median Household Income
$67,441
Median Earnings
$1,647
Median Rent
$342,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
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- CBD American Shaman — 159 Gulf Fwy S, League City, TX 77573
Frequently Asked Questions
What type of property is this?
Drug store - Vacant former CVS freestanding building on a signalized hard corner at West Main Street and Landing Boulevard.
Where is this drug store located?
The property is located at 2700 West Main Street League City, TX.
What is the asking price?
The asking price for this property is $3,989,000.
What are key features of this property?
This property features: 12,268 SF freestanding former CVS pharmacy on 2.10 acres at a signalized hard corner of FM 518 and Landing Boulevard; Vacant and available for immediate use, including owner‑user, single‑tenant lease, or multi‑tenant conversion; Offered for sale at $3,989,000 or lease at $20,000 per month NNN
