118 Harrison AveHarlingen, TX 78550

For Sale
$5,459,607
High-yield CVS, absolute NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional investment opportunity presents a 13,892 square foot CVS Pharmacy building in Harlingen, Texas. The property boasts a strong absolute NNN lease with approximately 10.2 years remaining until January 31, 2035, offering zero landlord responsibilities. The tenant, CVS Pharmacy, is a credit-rated, publicly traded corporation with a BBB rating from Standard & Poor's and over $322 billion in annual revenue. The lease structure includes ten 5-year renewal options. Situated on a two-acre lot at 118 E Harrison Ave, Harlingen, TX 78550, this property enjoys a prime location near major hospitals (within three miles of Valley Baptist Medical Center and Harlingen Medical Center), and is surrounded by over 5.4 million square feet of retail space within a two-mile radius, including Valle Vista Mall. The property sits on a major intersection with combined daily traffic exceeding 26,600 vehicles. The asking price is $5,459,607, representing a 9.88% cap rate and a NOI of $539,163. Built in 2009, this single-tenant property offers a secure, long-term investment with significant upside potential. The densely populated area boasts over 61,000 residents within a three-mile radius and over 91,300 within five miles. This is a rare opportunity to acquire a high-quality, net-leased property anchored by a blue-chip tenant in a thriving retail market. The property is currently vacant, but the lease remains in effect.

Highlights

  • 13,892 SF CVS building in Harlingen, TX, with ~11.5 years remaining on a 25-year absolute NNN lease.
  • Absolute NNN lease; zero landlord responsibilities.
  • Investment-grade tenant (CVS) with a BBB S&P credit rating and over $322 billion in annual revenue.
  • Excellent location near Valley Baptist and Harlingen Medical Centers (under 3 miles).
  • Strong retail location with over 5.4 million SF of retail within 2 miles, including Valle Vista Mall, Walmart, and Target.
  • High-traffic location on a major intersection with over 26,600 vehicles daily.

Property Details for 118 Harrison Ave

Property type
Retail properties, Drug stores
Square Feet
13,892 SF
Year Built
2009
Lot Size (sq. ft)
87,120 SF

Location Insight

City
Harlingen
County
Cameron
State
Texas
Latitude
26.18959394854
Longitude
-97.694578247276
118 Harrison Ave, Harlingen, Texas

FAQs

What type of property is this?
Retail property - High-yield CVS, absolute NNN lease.
Where is the retail property located?
The property is located at 118 Harrison Ave Harlingen, TX.
What is the asking price?
The asking price for this property is $5,459,607.
What are key features of this property?
This property features: 13,892 SF CVS building in Harlingen, TX, with ~11.5 years remaining on a 25-year absolute NNN lease.; Absolute NNN lease; zero landlord responsibilities.; Investment-grade tenant (CVS) with a BBB S&P credit rating and over $322 billion in annual revenue.
How can I contact the broker?
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118 Harrison Ave
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