4101 Fairmont Pkwy Pasadena, TX 77504-3301

Property Details for 4101 Fairmont Pkwy

Year built

2005

Construction

FRAME

Lot size

2.08 lot acres

Property size

14,352 SF

Property type

Drug stores

APN

1265880010001

APU

1265880010001

Description

This exceptional investment opportunity presents the fee simple ownership of a 14,352 square foot CVS Pharmacy in Pasadena, Texas. The property, built in 2005, sits on a 2.08-acre lot with 81 parking spaces and boasts a strong 7.25% cap rate based on a Net Operating Income (NOI) of $320,855. The absolute NNN lease with CVS, a corporate guaranteed tenant, features approximately 6.2 years remaining with ten 5-year renewal options, ensuring long-term stability. Located at the signalized intersection of Burke Road and Fairmont Parkway, this high-traffic location sees over 50,000 vehicles daily, further enhanced by proximity to the Sam Houston Tollway (85,000 VPD). The property benefits from a dense retail corridor, including nearby national tenants like Target, Kohl's, Walmart, and Home Depot, and is strategically positioned near major medical facilities such as HCA Houston Healthcare Southeast. The strong demographics of the 5-mile trade area, with over 298,000 residents and 113,000 daytime employees, and an average household income exceeding $81,000, contribute to the property's exceptional performance, ranking in the top 15% of all CVS stores nationally. The property is zoned for General Commercial use and has an APN of 1265880010001. This is a truly management-free investment opportunity in a state with no income tax. The asking price is $4,426,000, representing a price per square foot of $308.39.

Location Insight

City

Pasadena

County

Harris

State

Texas

Longitude

-95.1832

Latitude

29.6516

CBSA code

26420

CBSA name

HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments