12550 Louetta Rd

LONG-TERM OPERATING HISTORY CVS Pharmacy is operating under a long-term lease with 12.5+ years of term remaining, which expires in October 2038. Additionally, this is an established location for CVS, having occupied this site since 2002 and extended the lease for 20 years in 2018, demonstrating their commitment to this property.

CORPORATE GUARANTEE FROM INVESTMENT GRADE TENANT The lease is corporately guaranteed by CVS Health, the largest retail pharmacy chain in the United States. CVS operates over 9,000 locations and boasts an impressive “BBB” investment grade credit rating from S&P.

LOCATED IN HOUSTON MSA Houston is the 5th largest MSA in the country, with a population exceeding 7 million people. In 2023, the Houston MSA’s GDP was an impressive 697 billion. Once rural farm land, Cypress is now one of Houston’s largest suburbs. with a thriving economy.

Overview

ABSOLUTE TRIPLE NET (NNN) LEASE

The property is subject to an Absolute Triple Net (NNN) lease with CVS Pharmacy,

resulting in zero landlord management responsibilities. The tenant is responsible

property taxes, insurance, all repairs & maintenance, and the roof & structure.

Location Description

LOCATED ON HARD, SIGNALIZED CORNER

The subject property benefits from its location on the hard, signalized corner of Louetta Rd and N Eldridge Pkwy. The combined traffic counts at this intersection are 36,639 vehicles per day.