CVS Pharmacy - 9285 Culebra Road, San Antonio, Texas 78251 - PHILIP LEVY CHRIS GAINEY - 9285 Culebra Road, San Antonio, Texas ...
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PHILIP LEVY CHRIS GAINEY 972.755.5225 817.932.6122 PHILIP.LEVY@MARCUSMILLICHAP.COM CHRIS.GAINEY@MARCUSMILLICHAP.COM CVS Pharmacy - 9285 Culebra Road, San Antonio, Texas 78251
TABLE OF CONTENTS
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
Confidentiality & Disclaimer Contents
All materials and information received or derived from The Levy Retail Group its directors, PROPERTY INFORMATION 3
officers, agents, advisors, affiliates and/or any third party sources are provided without
representation or warranty as to completeness , veracity, or accuracy, condition of the property, Executive Summary 4
compliance or lack of compliance with applicable governmental requirements, developability or Property Description 5
suitability, financial performance of the property, projected financial performance of the property
Complete Highlights 6
for any party’s intended use or any and all other matters.
Additional Photo 7
Neither The Levy Retail Group its directors, officers, agents, advisors, or affiliates makes any
LOCATION INFORMATION 8
representation or warranty, express or implied, as to accuracy or completeness of the any
materials or information provided, derived, or received. Materials and information from any Regional Map 9
source, whether written or verbal, that may be furnished for review are not a substitute for a
Location Maps 10
party’s active conduct of its own due diligence to determine these and other matters of
significance to such party. The Levy Retail Group will not investigate or verify any such matters or Aerial Map 11
conduct due diligence for a party unless otherwise agreed in writing. 12
Retailer Map
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE FINANCIAL ANALYSIS 13
DILIGENCE.
Financial Summary 14
Any party contemplating or under contract or in escrow for a transaction is urged to verify all Income & Expenses 15
information and to conduct their own inspections and investigations including through 16
appropriate third party independent professionals selected by such party. All financial data
Tenant Profiles
should be verified by the party including by obtaining and reading applicable documents and DEMOGRAPHICS 17
reports and consulting appropriate independent professionals. The Levy Retail Group makes no
Demographics Report 18
warranties and/or representations regarding the veracity, completeness, or relevance of any
financial data or assumptions. The Levy Retail Group does not serve as a financial advisor to any Demographics Map 19
party regarding any proposed transaction. All data and assumptions regarding financial 20
performance, including that used for financial modeling purposes, may differ from actual data or
IABS
performance. Any estimates of market rents and/or projected rents that may be provided to a
party do not necessarily mean that rents can be established at or increased to that level. Parties
must evaluate any applicable contractual and governmental limitations as well as market
conditions,vacancy factors and other issues in order to determine rents from or for the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be
discussed by the party with a certified public accountant or tax attorney. Title questions should be
discussed by the party with a title officer or attorney. Questions regarding the condition of the
property and whether the property complies with applicable governmental requirements should
be discussed by the party with appropriate engineers, architects, contractors, other consultants
and governmental agencies. All properties and services are marketed by The Levy Retail Group in
compliance with all applicable fair housing and equal opportunity laws.
2
Section 1 PROPERTY INFORMATION
PROPERTY INFORMATION | EXECUTIVE SUMMARY
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
OFFERING SUMMARY PROPERTY OVERVIEW
Sale Price: $3,558,000 Marcus & Millichap is pleased to offer the opportunity to acquire a 10,862-square foot freestanding building
leased to CVS Pharmacy located in San Antonio, Texas.
Cap Rate: 7.25%
NOI: $257,976 DEMOGRAPHICS
1 MILE 3 MILES 5 MILES
Lot Size: 1.1 Acres
Total Households 4,844 39,028 96,888
Total Population 14,707 114,117 278,439
Year Built: 2000
Average HH Income $66,600 $66,285 $64,852
Building Size: 10,862
Price / SF: $327.56
4
PROPERTY INFORMATION | PROPERTY DESCRIPTION
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
PROPERTY OVERVIEW
Marcus & Millichap is pleased to offer the opportunity to acquire a 10,862-square foot freestanding building leased to CVS Pharmacy located in San Antonio, Texas. The absolute net lease
has no landlord responsibilities and has a corporate guarantee from a subsidiary of a publicly traded company (NASDAQ: CVS). More than three years remain on the primary term, and the
tenant has four five-year options for renewal with scheduled rent increases at the beginning of each renewal period. Constructed in 2000, the building is situated on 1.1 acres.
LOCATION OVERVIEW
The subject property is located at the signalized hard corner of Culebra Road and Grissom Road, with ingress and egress points from both roads. Cumulative traffic counts are
approximately 57,700 vehicles per day. Directly across from the property is an H-E-B grocery-anchored retail center with tenants that include Dollar Tree, Chase Bank, Great Clips,
MetroPCS, Cash Store, GNC, Cricket Wireless, Sun Loan Company, H&R Block, Allstate Insurance, First Choice Emergency Room, and AT&T Store. Walmart Supercenter is located to the
northwest of the property, and other national retailers in the surrounding area include Jersey Mike’s Subs, Discount Tire Store, Domino’s Pizza, Sonic Drive-In, O’Reilly Auto Parts,
McDonald’s, El Pollo Loco, KFC, AutoZone, and Wendy’s. The densely populated area has more than 278,400 residents within five miles, and the average household income is approximately
$65,000.
San Antonio is the seventh-most populous city in the United States and the second-most populous in Texas. The area has a strong military presence—it is home to Fort Sam Houston,
Lackland Air Force Base, Randolph Air Force Base, with Camp Bullis and Camp Stanley outside the city. San Antonio is home to six Fortune 500 companies and the South Texas Medical
Center, the only medical research and care provider in the South Texas region.
5
PROPERTY INFORMATION | COMPLETE HIGHLIGHTS
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
SALE HIGHLIGHTS
• 10,862-Square Foot Freestanding CVS Pharmacy in San Antonio, TX
• Absolute Net Lease | No Landlord Responsibilities
• Corporate Guarantee from CVS Pharmacy, Inc. (A Subsidiary of CVS
Health Corporation)
• Publicly Traded Company (NASDAQ: CVS)
• Over Three Years Remain on the Primary Term
• Tenant has Four Five-Year Options for Renewal
• Rent Bumps Scheduled at the Beginning of Each Option Period
• Tenant Reports Strong Store Sales
• Signalized, Hard Corner Location at Culebra Road and Grissom Road
• Cumulative Traffic Counts are Approximately 57,700 Vehicles per Day
• Directly Across From an H-E-B Grocery-Anchored Retail Development
• Walmart Supercenter is Northwest of the Property
• Densely Populated Area with Over 278,400 Residents Within Five Miles
6
PROPERTY INFORMATION | ADDITIONAL PHOTO
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
7
Section 2 LOCATION INFORMATION
LOCATION INFORMATION | REGIONAL MAP
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
CVS Pharmacy
9
LOCATION INFORMATION | LOCAL MAP
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
10LOCATION INFORMATION | AERIAL MAP
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
CVS Pharmacy
11LOCATION INFORMATION | RETAILER MAP
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
12Section 3 FINANCIAL ANALYSIS
FINANCIAL ANALYSIS | FINANCIAL SUMMARY
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
INVESTMENT OVERVIEW CURRENT
Price $3,558,000
Price per SF $327.56
CAP Rate 7.25%
Cash-on-Cash Return (yr 1) 7.25%
Total Return (yr 1) $257,976
OPERATING DATA CURRENT
Gross Income $257,976
Operating Expenses -
Net Operating Income $257,976
14FINANCIAL ANALYSIS | INCOME & EXPENSES
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
INCOME SUMMARY CURRENT PER SF
Current - 2/23/21 $257,975 $23.75
Option 1: 2/24/21 - 2/23/26 $263,429 $24.25
Option 2: 2/24/26 - 2/23/31 $268,883 $24.75
Option 3: 2/24/31 - 2/23/36 $274,337 $25.26
Option 4: 2/24/36 - 2/23/41 $279,791 $25.76
Net Operating Income $257,976 $23.75
15FINANCIAL ANALYSIS | TENANT PROFILES
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
Company: CVS Pharmacy CVS is the number one largest healthcare company with over 9,900 locations
Sales Volume: $177 Billion nationwide and the tenth largest Fortune 500 company overall. CVS is the
Credit Rating: BBB+ nation's largest retailer of prescription drugs.
Rating Agency: Standard & Poors
Stock Symbol: NASDAQ: CVS CVS Corporation operates one of the largest drug store chains in the U.S.,
Number Of Locations: 9,987 based on revenues, net income and store count. The company offers
Headquarters: Woonsocket, RI prescription drugs and a wide assortment of general merchandise, including
Rent Commencement Date: 2/24/2001 OTC drugs, beauty products and cosmetics, film and photo finishing services,
Lease Expiration Date: 2/23/2021 seasonal merchandise, greeting cards and convenience foods.
Original Lease Term: 20 Years
• Absolute Net Lease
• Tenant Responsible for Roof and Structure
• Four Five-Year Options for Renewal
• First Right of Refusal: None
• Tenant Highlight 6
16Section 4 DEMOGRAPHICS
DEMOGRAPHICS | DEMOGRAPHICS REPORT
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
1 MILE 3 MILES 5 MILES
Total population 14,707 114,117 278,439
Median age 32.5 31.6 31.7
Median age (male) 33.2 30.4 30.7
Median age (female) 32.2 32.9 32.7
Total households 4,844 39,028 96,888
Total persons per HH 3.0 2.9 2.9
Average HH income $66,600 $66,285 $64,852
Average house value $123,638 $122,214 $136,431
Total Population - White 11,002 82,755 202,297
% White 74.8% 72.5% 72.7%
Total Population - Black 1,357 9,625 21,759
% Black 9.2% 8.4% 7.8%
Total Population - Asian 264 2,667 7,886
% Asian 1.8% 2.3% 2.8%
Total Population - Hawaiian 20 312 510
% Hawaiian 0.1% 0.3% 0.2%
Total Population - American Indian 85 510 1,447
% American Indian 0.6% 0.4% 0.5%
Total Population - Other 1,669 14,967 36,083
% Other 11.3% 13.1% 13.0%
Total Population - Hispanic 8,911 67,184 162,954
% Hispanic 60.6% 58.9% 58.5%
* Demographic data derived from 2010 US Census
18DEMOGRAPHICS | DEMOGRAPHICS MAP
CVS Pharmacy
9285 Culebra Road, San Antonio, TX 78251
POPULATION 1 MILE 3 MILES 5 MILES
Total population 14,707 114,117 278,439
Median age 32.5 31.6 31.7
Median age (male) 33.2 30.4 30.7
Median age (Female) 32.2 32.9 32.7
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 4,844 39,028 96,888
# of persons per HH 3.0 2.9 2.9
Average HH income $66,600 $66,285 $64,852
Average house value $123,638 $122,214 $136,431
ETHNICITY (%) 1 MILE 3 MILES 5 MILES
Hispanic 60.6% 58.9% 58.5%
RACE (%)
White 74.8% 72.5% 72.7%
Black 9.2% 8.4% 7.8%
Asian 1.8% 2.3% 2.8%
Hawaiian 0.1% 0.3% 0.2%
American Indian 0.6% 0.4% 0.5%
Other 11.3% 13.1% 13.0%
* Demographic data derived from 2010 US Census
19INFORMATION ABOUT BROKERAGE SERVICES
Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords. 11-2-2015
TYPES OF REAL ESTATE LICENSE HOLDERS:
• A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.
• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):
• Put the interests of the client above all others, including the broker’s own interests;
• Inform the client of any material information about the property or transaction received by the broker;
• Answer the client’s questions and present any offer to or counter-offer from the client; and
• Treat all parties to a real estate transaction honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:
AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property
management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known
by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent
must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed
to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written
agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:
• Must treat all parties to the transaction impartially and fairly;
• May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to,
and carry out the instructions of each party to the transaction.
• Must not, unless specifically authorized in writing to do so by the party, disclose:
that the owner will accept a price less than the written asking price;
that the buyer/tenant will pay a price greater than the price submitted in a written offer; and
any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.
AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent
the buyer and must place the interests of the owner first.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:
• The broker’s duties and responsibilities to you, and your obligations under the representation agreement.
• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please
acknowledge receipt of this notice below and retain a copy for your records.
Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate License No. Email Phone
Sales Agent/Associate’s Name License No. Email Phone
Buyer/Tenant/Seller/Landlord Initials Date
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov
IABS 1-0PHILIP LEVY CHRIS GAINEY
Senior Managing Director Senior Associate
Dallas Office Fort Worth Office
972.755.5225 Office 817.932.6122 Office
817.380.1153 Fax 817.380.1153 Fax
philip.levy@marcusmillichap.com chris.gainey@marcusmillichap.com
LICENSE: TX 0522087 LICENSE: TX 0612970
5001 Spring Valley Road 300 Throckmorton Street
Y0060776
Dallas, TX 75244 Fort Worth, TX 76102You can also read
