Drug Store
6900 Grand Mission Boulevard, Richmond, TX 77407
For Sale
Contact for pricing
A long-term triple-net lease includes a scheduled 5.00% increase during the option period.
Property Size12,900 SF
Lot Size1.71 Acres
Price / SF$408.89
Days on Market52
Property Features for 6900 Grand Mission Boulevard
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Gross Income
Building Details
Tenancy
Listing Agency:
SURMOUNT
Listed By:
Glen Kunofsky · License NY 49KU1129178
(332) 345-4222
Source:
Crexi
Added: Sep 23
Changed: Nov 6
Last Checked: Nov 12 at 7:11AM
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 SURMOUNT
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Investment Insights
Based on property information with market context.
The pharmacy building contains approximately 12,900 rentable square feet and occupies an estimated 1.71-acre parcel. CVS leases the property under a triple-net agreement that commenced October 13, 2008, with a stated term of 25.32 years. A 5.00% rent increase is scheduled in the option period.
Key Highlights
- Approximately 12,900 rentable square feet of pharmacy space
- Estimated 1.71‑acre parcel
- Triple‑net lease with a stated 25.32‑year term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$187,215
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,744,300
$3.7M
Cap Rate 7%
$2,674,500
$2.7M
Cap Rate 9%
$2,080,167
$2.1M
Market Conditions
NOI Build-Up for 12,900 SF
Gross rent
$264.7K $20.52/SF
− Vacancy
−$15.1K −$1.17/SF
EGI
$249.6K $19.35/SF
− OpEx
−$62.4K −$4.84/SF
NOI
$187.2K $14.51/SF
Area
Fort Bend County, TX
Vacancy
5.70%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,744,300
Cap Rate 7%
$2,674,500
Cap Rate 9%
$2,080,167
Alternative Uses
Best Use
Specialty Retail
$2.67M
$2.34M – $3.12M
NOI $187,215 @ 7.0% cap · market cap 3.55%
Second Best
Retail
$2.50M
$2.18M – $2.91M
NOI $174,734 @ 7.0% cap · market cap 3.31%
Theoretical Best
Mixed Use
$4.18M
$3.66M – $4.87M
NOI $292,437 @ 7.0% cap · market cap 5.54%
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
129
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 31%
7-Eleven
Shops & Services
17,060 visits/mo
0.0 miles
Popeyes Louisiana Kitchen
Dining
8,115 visits/mo
0.0 miles
Caliber Collision
Shops & Services
921 visits/mo
0.2 miles
Demographics for 77407, TX
74,657
Population
25,284
Households
3
Avg Household Size
34
Median Age
53%
College-Educated
91%
High-School Grad
20.0 sq mi
ZIP Area
3,733
Density / Sq Mi
$101,595
Median Household Income
$51,273
Median Earnings
$1,993
Median Rent
$353,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- CVS Pharmacy — 6900 Grand Mission Blvd, Richmond, TX 77407
Frequently Asked Questions
What type of property is this?
Drug store - A long-term triple-net lease includes a scheduled 5.00% increase during the option period.
Where is this drug store located?
The property is located at 6900 Grand Mission Boulevard Richmond, TX.
What is the asking price?
The asking price for this property is $5,274,667.
What are key features of this property?
This property features: Approximately 12,900 rentable square feet of pharmacy space; Estimated 1.71‑acre parcel; Triple‑net lease with a stated 25.32‑year term
