129 Shahan Prairie RdOak Point, TX 75068

Property Details for 129 Shahan Prairie Rd

Year built

2020

Lot size

2.48 AC

Property size (Sq ft)

14,698 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a 14,698 square foot freestanding CVS Pharmacy with a drive-thru, situated on a 2.48-acre lot at the hard corner of FM 720 and Shahan Prairie Road in Oak Point, Texas. Boasting an absolute NNN lease with over 21 years remaining until January 31, 2046, and no rent holidays, this property offers significant long-term stability. The lease includes six 5-year renewal options with a 10% rent increase at the start of each. The property benefits from a strong corporate guarantee from CVS Health Corporation, a Fortune 500 company. This prime location in a high-growth, affluent North Dallas suburb enjoys exceptional demographics, with average household incomes exceeding $134,000 and nearly 35,000 residents within a 3-mile radius. Nearby amenities include 7-Eleven, Starbucks, McDonald's, and PNC Bank, further enhancing the property's value. The strategic location provides easy access to US Highway 380, connecting to the larger Dallas/Fort Worth metroplex, and is conveniently located 30 minutes from DFW Airport and 40 minutes from downtown Dallas. The property features 55 parking spaces per unit and a substantial Net Operating Income (NOI) of $390,123, resulting in a 5.15% cap rate. Built in 2020, this asset represents a compelling investment opportunity with substantial upside potential. The asking price is $7,575,000.

Location Insight

City

Oak Point

County

Denton

State

Texas

Latitude

33.186

Longitude

-96.976

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].