31013 Farm To Market 2920 Waller, TX 77484
- Retail properties
- 13,815 SF
- 1.80 lot acres
Current Use by Public Records
- Retail properties
Property Details for 31013 Farm To Market 2920
- Year built
- 2005
- Lot size
- 1.80 lot acres
- Property size
- 13,815 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a CVS Pharmacy located at 31013 Farm to Market 2920, Waller, TX 77484. The property boasts a 13,815 square foot building on a 1.8-acre lot, built in 2005. Currently operating under a Net Lease (NNN) agreement with CVS Pharmacy, a credit-rated tenant with a corporate guarantee, the lease offers significant financial stability. The current lease term expires July 1, 2025, with four (five-year) renewal options, providing a substantial remaining lease term of approximately 0.6 years. The property enjoys a 100% occupancy rate, generating a strong Net Operating Income (NOI) of $269,123, resulting in a compelling 6.41% cap rate. The location, approximately 45 minutes from Houston, benefits from high visibility along Highway 290 and FM 2920, with a combined daily vehicle count exceeding 46,000. The area features complementary businesses, including hotels, restaurants, and service stations, further enhancing the property's appeal. This is the only national drugstore in Waller, with the nearest competitors located over 12 miles away. The property offers passive ownership with no landlord responsibilities, and the investment benefits from Texas's income tax-free status. The asking price for this exceptional investment is $4,200,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waller
- County
- Harris
- State
- Texas
- Longitude
- -95.9112
- Latitude
- 30.0626
