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Views: 52 DOM: 90 Updated: 06.24.24 Posted: 04.13.24 Status: Active

Summary

Price $4,469,335
Built/Renov 1996
Tenant Walgreens
Cap Rate 6.20%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,780
Lease Start 11-21-2023
#Units 13,532
Price/SF $324.33
Expiration 11-30-2038
Tenant Type Pharmacy
NOI $277,100
R. Term 14.4
Ownership Fee Simple
Rent/SF $20.11
Increases 5.0%/5/yrs
Pop 5Mi 100,314
Lot/AC 1.44
Options 12/5yrs/5%
AHHI 5Mi $87,388

Lease Highlights

  • Walgreens has 14+ year lease remaining on the current lease term with 12 (5-year) options to extend
  • The lease features 5% rental escalations at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Calder Avenue and Dowlen Road, with access to a combined daily traffic count of 28,137 vehicles. The property is conveniently situated less than 3 miles from Interstate 10 (113,794 VPD), and less than 5 miles from downtown Beaumont. Additionally, it is immediately adjacent to Waffle House and across Dowlen Road...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,118 47,553 100,361
2023 Total Population : 9,110 47,525 100,314
2023 Employed Civilian Pop : 4,331 21,701 42,770
2023 Total Businesses : 482 2,634 5,129
2023 Average Household Income : $ 96,510 $ 110,466 $ 87,388
2023 Total Consumer Spending : $ 318 M $ 1801 M $ 3075 M
2023 Median Age : 42 42 38
2023 Total Households : 3,824 18,977 40,392
2023 Pop Age 25+: Bachelor's Degree : 1,514 9,119 13,649
2023 Average Home Value : $ 205,971 $ 241,777 $ 199,730
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Dowlen Rd Prutzman Rd 2011 17,060 0.13 mi
Calder Avenue Long Rd 2022 6,973 0.13 mi
Calder Ave Marceline Blvd 2011 6,270 0.15 mi
Phelan Blvd Prutzman Rd 2011 16,090 0.19 mi
Dowlen Road S Dowlen Rd 2022 16,430 0.27 mi
Dowlen Rd Lexington Dr 2001 22,410 0.30 mi
Pinchback Rd Wall St 2011 900 0.33 mi
Calder Avenue Plz Dr 2022 6,339 0.35 mi
Phelan Boulevard Shakespeare Dr 2022 10,260 0.36 mi
Phelan Blvd Plz Dr 2001 19,810 0.39 mi

Listing Broker

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