2601 Houghton RdTucson, AZ 85730

Property Details for 2601 Houghton Rd

Year built

2004

Construction

FRAME

Lot size

1.85 AC

Property size (Sq ft)

14,375 SF

Property type

Drug stores

APN

136-10-0940

APU

136100940

Description

This exceptional investment opportunity presents a fee-simple ownership of a 14,375-square-foot CVS Pharmacy located at 2601 S Houghton Rd, Tucson, AZ 85730. The property sits on a 1.85-acre lot and boasts a 7.00% cap rate with a strong NOI of $440,078. The absolute NNN lease with CVS Pharmacy has a remaining term of seven years, expiring January 31, 2031, and includes two five-year renewal options at a fixed monthly rate of $32,313.98. This translates to an annual rent of $387,767.76 during the renewal periods, extending the lease to January 31, 2041. Following this, eight additional five-year renewal options are available at market rent, extending the potential lease term to 2081. The property is strategically located near major retailers including Walmart, Target, Kohl's, and Home Depot, benefiting from high traffic counts on E Golf Links Rd (27,799 CPD) and S Houghton Rd (21,043 CPD). Furthermore, its proximity to the University of Arizona and two major hospitals enhances its desirability and long-term stability. Built in 2005, this single-story building is zoned C and represents a top-performing CVS location, ranking within the top 88% of CVS units in Arizona and the top 83% nationally. This is a rare opportunity to acquire a high-performing, long-term net lease investment with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,093,769

  6.5%

  $1,932,710

  7%

  $1,794,659

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,027,840

  Geo Method

  $6,027,840

• Alternative Use

  Use

  Valuation

  Residential

  $1,630,313

  Hospitality

  $1,493,358

  Educational

  $1,242,456

  Medical

  $1,285,186

  Retail

  $1,932,710

Location Insight

City

Tucson

County

Pima

State

Arizona

Latitude

32.1912

Longitude

-110.772

CBSA code

46060

CBSA name

TUCSON, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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