Sale of Zero Cash Flow CVS Pharmacy in Texas Date May 5, 2026
The Boulder Group, a net leased investment brokerage firm, completed the sale of a single tenant net leased CVS pharmacy located at 6750 Reading Road in Rosenberg, Texas for $4,175,000. The 14,000-square-foot CVS property is situated within the Houston–The Woodlands–Sugar Land MSA, the fifth-most populous metropolitan area in the United States with approximately 7.82 million residents.
The CVS pharmacy at 6750 Reading Road in Rosenberg, Texas is positioned at a signalized intersection along Reading Road near Spacek Road. Reading Road carries approximately 21,000 vehicles per day. Interstate 69 is located just off the property and carries approximately 69,000 vehicles per day, providing strong regional connectivity throughout the Houston MSA. The CVS property sits directly across from Brazos Town Center, a dominant regional shopping destination anchored by Target, The Home Depot, Kroger, Kohl’s, JCPenney, Academy Sports, Hobby Lobby, and Ross. Additional nearby national retailers include H-E-B, ALDI, Cinemark, Burlington, Old Navy, Petco, Dollar Tree, Marshalls, Goodwill, and Honda. B.F. Terry High School, which enrolls approximately 1,500 students, is located just two miles southeast of the property. The population within one mile of the CVS in Rosenberg, Texas is projected to grow by more than 23% through 2029. Approximately 133,000 residents live within a five-mile radius of the property. The average household income within five miles exceeds $114,000. Rosenberg is located in Fort Bend County, approximately 28 miles southwest of downtown Houston, and has experienced rapid suburban expansion in recent years.
Randy Blankstein, Jimmy Goodman and John Feeney of The Boulder Group represented the seller in the transaction. The seller was a west-coast based investor. The buyer was an investor based in the southeast.
The CVS lease is structured as an absolute triple net lease, requiring zero landlord responsibilities. The lease expires on January 31, 2042, leaving approximately 15 years of remaining term. CVS has operated from this Rosenberg, Texas location since the building was constructed in 2016. The lease includes ten 5-year renewal options. Rent during the first two renewal options adjusts to $263,477 annually. Renewal options three through ten reset to fair market value as determined by an appraiser. A rent holiday applies from November 2038 through January 2042. The property benefits from its location in Texas, which has no state income tax.
CVS Health Corporation is headquartered in Woonsocket, Rhode Island and was founded in 1963. The company operates more than 9,000 retail pharmacy locations across the United States. CVS Health employs approximately 300,000 people and serves more than 100 million individuals annually. Its major business lines include retail pharmacy operations, the MinuteClinic walk-in medical clinic network with over 1,100 locations, the CVS Caremark pharmacy benefits management platform, Aetna health insurance plans, and specialty pharmacy services. CVS Health carries an investment-grade credit rating.
“Zero cash flow CVS properties continue to attract investor interest due to the combination of long-term lease commitments from an investment-grade tenant and the potential for significant depreciation benefits,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner of The Boulder Group, added, “This CVS pharmacy in Rosenberg, Texas benefits from exceptional positioning directly across from Brazos Town Center and along a high-traffic corridor carrying over 21,000 vehicles per day, which generated strong buyer interest throughout the marketing process.” John Feeney, Senior Vice President of The Boulder Group, noted, “The buyer was attracted to the absolute triple net lease structure with zero landlord responsibilities, and the location within a no-income-tax state experiencing over 23% projected population growth within one mile.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high net worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $11 billion of single tenant net lease real estate transactions. From 2013–2025, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both CoStar and MSCI Real Capital Analytics. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
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