Freestanding Drugstore with
For Sale
Contact for pricing
701 South 17th Street, West Columbia, TX 77486
Single-tenant retail facility under an absolute NNN lease with no landlord maintenance or management obligations.
Property Size11,945 SF
Price / SF$313.10
Days on Market9
Property Features for 701 South 17th Street
General Information
Standard status
Active
Size
11,945 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$252,450
Building Details
Year Built
2007
Tenancy
Single
Listing Agency:
Marcus & Millichap - Nashville
Listed By:
Jason Hernandez · License #CA 01392646
Source:
Crexi
Added: Aug 25
Changed: Sep 1
Last Checked: Sep 1 at 9:06PM
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 Marcus & Millichap - Nashville
Investment Insights
Based on property information with market context.
Freestanding retail drugstore occupied by CVS/pharmacy under an absolute NNN lease, with the tenant responsible for maintenance and management obligations. The 11,945-square-foot building was constructed in 2007 and has operated at this location for approximately 18 years. A wrap-around drive-through pickup lane serves the building, and the site provides access from both adjoining streets.
The 1.86-acre parcel is positioned at the northeast corner of South 17th Street, identified as TX-Hwy 35, and South Columbia Drive, identified as TX-Hwy 36, in West Columbia, Texas. The property is adjacent to Columbia High School and near Walmart, H-E-B Grocery Store, Jack-in-the-Box, McDonald's, Sonic Drive-In, Walgreens, and O'Reilly Auto Parts. The lease carries a corporate guarantee from CVS Health Corporation.
The 1.86-acre parcel is positioned at the northeast corner of South 17th Street, identified as TX-Hwy 35, and South Columbia Drive, identified as TX-Hwy 36, in West Columbia, Texas. The property is adjacent to Columbia High School and near Walmart, H-E-B Grocery Store, Jack-in-the-Box, McDonald's, Sonic Drive-In, Walgreens, and O'Reilly Auto Parts. The lease carries a corporate guarantee from CVS Health Corporation.
Key Highlights
- 11,945‑square‑foot freestanding CVS/pharmacy drugstore
- Absolute NNN lease with no landlord maintenance or management responsibilities
- 1.86‑acre parcel with access from South 17th Street and South Columbia Drive
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
$173,539
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
4.64%
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%
$3,470,780
$3.5M
Cap Rate 7%
$2,479,129
$2.5M
Cap Rate 9%
$1,928,211
$1.9M
Market Conditions
NOI Build-Up for 11,945 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
$245.1K $20.52/SF
− Vacancy
−$13.7K −$1.15/SF
EGI
$231.4K $19.37/SF
− OpEx
−$57.8K −$4.84/SF
NOI
$173.5K $14.53/SF
Area
Brazoria County, TX
Vacancy
5.60%
Lease Rate
$20.52 /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%
$3,470,780
Cap Rate 7%
$2,479,129
Cap Rate 9%
$1,928,211
Alternative Uses
Best Use
Specialty Retail
$2.48M
$2.17M – $2.89M
NOI $173,539 @ 7.0% cap · market cap 4.64%
Second Best
Retail
$2.31M
$2.02M – $2.70M
NOI $161,798 @ 7.0% cap · market cap 4.33%
Theoretical Best
Multifamily LT 5
$148.81M
$130.20M – $173.61M
NOI $10,416,385 @ 7.0% cap · market cap 278.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 77486, TX
7,488
Population
3,124
Households
2.4
Avg Household Size
40
Median Age
20%
College-Educated
91%
High-School Grad
48.2 sq mi
ZIP Area
155
Density / Sq Mi
$85,182
Median Household Income
$34,950
Median Earnings
$1,075
Median Rent
$221,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- CVS Pharmacy — 701 S 17th St, West Columbia, TX 77486, United States
- CVS — 701 S 17th St, West Columbia, TX 77486
- R Larry Williams — 100 E Brazos Ave, West Columbia, TX 774862726
- COVID-19 Drive-Thru Testing at Walgreens — 100 E Brazos Ave, West Columbia, TX 77486
- Walgreens Pharmacy — 100 E Brazos Ave, West Columbia, TX 77486
Frequently Asked Questions
What type of property is this?
Drug store - Single-tenant retail facility under an absolute NNN lease with no landlord maintenance or management obligations.
Where is this drug store located?
The property is located at 701 South 17th Street West Columbia, TX.
What is the asking price?
The asking price for this property is $3,740,000.
What are key features of this property?
This property features: 11,945‑square‑foot freestanding CVS/pharmacy drugstore; Absolute NNN lease with no landlord maintenance or management responsibilities; 1.86‑acre parcel with access from South 17th Street and South Columbia Drive
