| Purchase Price | $6,450,000 |
|---|---|
| Annual Rental Income | $344,250 |
| Cap Rate | 5.34% |
| Lease Term | 17 Years |
| City | Rockwall |
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CVS Pharmacy – Rockwall, TX
This CVS Pharmacy property located in Rockwall, Texas is secured by a long-term absolute triple-net (NNN) lease with CVS Health, one of the largest and most creditworthy pharmacy retailers in the nation. This investment offers truly passive income backed by an essential-service tenant with a proven national footprint and consistent operational performance.
Tenant Overview
CVS Pharmacy, a subsidiary of CVS Health (NYSE: CVS), operates over 9,000 retail pharmacy locations across the country. As one of the most established healthcare retailers in the U.S., CVS provides a wide range of services including prescription fulfillment, over-the-counter medications, health screenings, immunizations, basic groceries, personal care products, and general retail goods. The company has maintained strong financials and has adapted its store model to include healthcare services and telehealth integration—positioning it as a long-term, essential tenant.
Lease Structure
The property is operated under an absolute NNN lease, meaning the tenant is responsible for all property expenses including taxes, insurance, maintenance, and capital improvements. This structure provides the investor with a passive, long-term income stream with zero management responsibility. CVS leases typically include a firm primary term and multiple renewal options, offering long-term stability and predictable cash flow.
Rockwall Market Overview
Rockwall is one of the fastest-growing suburban markets in the Dallas–Fort Worth Metroplex. Located just 25 miles northeast of downtown Dallas, the city benefits from rapid residential growth, high median household incomes, and a strong mix of retail, healthcare, and professional employers. With a population exceeding 50,000 and rising, Rockwall has become a premier destination for families, professionals, and retirees seeking proximity to Dallas with suburban quality of life.
Demographics & Consumer Demand
The city features a highly educated population with a median household income well above the national average. As growth continues throughout the DFW region, Rockwall has become a retail and healthcare services hub for surrounding suburban and exurban communities. CVS is well positioned to serve this expanding customer base with both prescription services and convenient retail offerings.
Retail Importance & Tenant Reliability
CVS plays a critical role in the Rockwall retail ecosystem by offering essential, high-frequency services. Its operations are largely unaffected by economic fluctuations, making it a recession-resistant tenant. The company has a strong balance sheet, investment-grade credit, and a long history of lease renewals and market performance. This location benefits from excellent visibility, strong traffic counts, and proximity to residential density and local amenities.
Investment Highlights