10001 Custer Rd Plano, TX 75025

Property Details for 10001 Custer Rd

Year built

2009

Lot size

1.47 lot acres

Property size

14,348 SF

Zone code

COMM

Property type

Commercial real estate

APN

R-8129-001-0050-1

APU

R812900100501

Description

This exceptional investment opportunity presents a fee-simple ownership of a 12,900-square-foot, single-tenant retail property located at 10001 Custer Rd, Plano, TX 75025. The property, built in 2009, is a Class A, freestanding CVS Pharmacy with a drive-thru, operating under an absolute triple-net (NNN) lease with a corporate guarantee from CVS, the nation's largest pharmacy chain, boasting an S&P rating of "BBB+". The lease, commencing October 1, 2009, and expiring September 30, 2034, has approximately 9.9 years remaining. The current asking price is $4,500,000, representing a compelling cap rate of 8.06% and a price per square foot of $348.84. The property boasts a 100% occupancy rate, generating a net operating income (NOI) of $362,785. Situated on a 1.47-acre lot, this property benefits from its location in a thriving Collin County area, across from a large luxury apartment complex and near Collin College, Baylor Scott & White Medical Center, and major transportation arteries, including proximity to Dallas Fort Worth International Airport. The property's strong tenant, favorable lease terms, and strategic location within the affluent Dallas-Fort Worth MSA make it an attractive investment prospect. The lease is a 25-year absolute NNN lease with no rent bumps or options to renew. The property is suitable for a 1031 exchange. The surrounding area exhibits robust population growth and high average household incomes exceeding $154,000 within a 3-mile radius. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment in a rapidly growing market.

Location Insight

City

Plano

County

Collin

State

Texas

Longitude

-96.734

Latitude

33.1163

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments