2420 Wheatland RdDallas, TX 75237

For Sale
$8,523,000

High-yield CVS, 10+ years remaining.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fee-simple interest (land and building) in a 13,420-square-foot CVS Pharmacy in Dallas, Texas. The property boasts a strong 5.25% cap rate and a substantial net operating income (NOI) of $447,455. The absolute NNN lease with CVS Pharmacy, Inc., features a corporate guarantee from CVS Caremark Corporation, eliminating landlord responsibilities. With approximately 10.2 years remaining on the initial lease term and ten 5-year renewal options, this investment offers long-term stability and predictable cash flow. The property, built in 2009, sits on a 1.78-acre lot with 69 parking spaces and is zoned PD - Planned Development. Its prime location at 2420 W Wheatland Rd, Dallas, TX 75237, benefits from high traffic counts (32,200 vehicles daily) at a signalized intersection, proximity to major roadways (Interstate 20), and strong tenant synergy with nearby national retailers like Target, Ross, and Home Depot. The area also boasts a significant population density, including nearby universities, schools, and residential complexes, creating a robust customer base. This property is an ideal, management-free investment in a state with no state income tax.

Highlights

  • 12 Years Remaining on Lease with Extension Options.
  • Investment-Grade Tenant (S&P: BBB) with Corporate Guarantee in a Strong Retail Corridor at Wheatland Towne Crossing (258,000 SF Power Center).
  • High-Visibility Location on a Signalized Hard Corner Intersection with I-20 (174,400 VPD) Access, near Schools, Universities, and Methodist Charlton Medical Center (300 beds).
  • Absolute NNN Lease, Fee Simple Ownership, in a State with No Income Tax, offering Zero Landlord Responsibilities.
  • Strong Demographics and a Large Residential Consumer Base within a 5-Mile Radius, supported by nearby Apartment Complexes.

Property Details for 2420 Wheatland Rd

Property type
Other retail properties, Individual retail properties
Square Feet
13,420 SF
Year Built
2009
Lot Size (sq. ft)
77,537 SF

Location Insight

City
Dallas
County
Dallas
State
Texas
Latitude
32.6471542
Longitude
-96.8582707
2420 Wheatland Rd, Dallas, Texas

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2420 Wheatland Rd
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