CVS "Midnight Store"

1500 Padre Blvd, South Padre Island, TX 78597

  • For Sale $11,323,630
  • Property Type Retail - Freestanding
  • Property Size 12,989 SF
  • Lot Size 1.14 Acre
  • Property Tenancy Single Tenant
  • Year Built 2008
  • Date Updated Dec 25, 2023
South Padre Island is a tropical oasis located off the southern tip of Texas. This barrier island offers the unsurpassed beauty of the Laguna Madre Bay and the Gulf of Mexico and is the ideal year-round destination for visitors seeking a getaway from the daily grind. The moment you cross the Queen Isabella Causeway, you feel like you’ve left all your cares behind – you’re now on South Padre Island time and free to experience your own tropical getaway. With 34 miles of beautiful white sand and clear emerald water, South Padre Island is one of the world’s most exquisite barrier islands – and the only tropical Island in Texas. Calm weather and water and more than 300 days of sunshine make South Padre Island a great place to live and visit all year. If you’re visiting in the summertime, the cool breezes blowing in your hair will refresh you as you sip an icy drink; in the winter, the warm sun will melt away your cares as you stroll down the beach in shorts and sandals. You can close your eyes, breathe deeply, and let go of all the worries you left behind when your trip to South Padre began..

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Highlights

  • Absolute Net Bond Lease | Zero Landlord Responsibilities
  • This Location is a Midnight Store - Indicates a Strong Site Due to Extended Business Hours
  • The ONLY Retail Pharmacy on South Padre Island - Captive Trade Area
  • Lease is Corporately Guaranteed by CVS - The Largest Pharmacy Chain in the U.S. | S&P "BBB+" Investment Grade
  • Build to Suit for CVS with Approximately 12 Years Remaining on the Lease
  • Located in Texas - Income Tax Free State
  • Drive Thru Equipped Pharmacy Site
  • Pride of Ownership South Padre Island Location - One of Texas' Premier Vacation Destinations with Over 1 Million Visitors Annually
  • Surrounded by Numerous National Tenants as well as Hotels and Vacation Rentals

Contacts

broker

Deno Bistolarides

Encore Real Estate Investment Services

(248) 702-0288

Location

Getting Around

  • Walk Score ®

    61/100 Somewhat Walkable

  • Bike Score ®

    42/100 Somewhat Bikeable
Powered by Walk Score ®
  • City South Padre Island, TX
  • Neighborhood South Padre Island
  • Zip Code 78597
  • Market McAllen

Points of Interest

  • Valero

    3.12 miles

  • H-E-B Fuel

    4.09 miles

  • SpaceX MegaLift and Equipment Storage Yard

    7.17 miles

  • Denny's

    0.18 miles

  • Pizza Hut

    0.21 miles

  • Palm Street Pier

    0.23 miles

  • McDonald's

    0.32 miles

  • Gabriella’s

    0.40 miles

  • Wingstop

    0.46 miles

  • Louie's Backyard

    0.47 miles

  • Dairy Queen

    0.47 miles

  • The Meatball Cafe

    0.48 miles

  • D Pizza Restaurant

    0.49 miles

  • Blue Marlin Supermarket South Padre Island

    0.71 miles

  • Island Market

    2.07 miles

  • Mercado Faro

    2.90 miles

  • Circle Drive Inn

    3.32 miles

  • Walmart Supercenter

    4.02 miles

  • H-E-B

    4.20 miles

Frequently Asked Questions

What is the lease rate for CVS "Midnight Store"?

Rental asking rate at CVS "Midnight Store" is $5,661,815.00/YR.

What is the total square footage of CVS "Midnight Store"?

CVS "Midnight Store" totals 12,989 square feet.

When was this property built?

CVS "Midnight Store" was built in 2008.

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Contact Listing Broker

broker

Deno Bistolarides

Encore Real Estate Investment Services

(248) 702-0288