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Views: 87 DOM: 385 Updated: 05.04.24 Posted: 05.24.23 Status: Active

Summary

Price $4,341,000
Built/Renov 2005
Tenant Walgreens (Dark) | Popshelf (Sublease)
Cap Rate 8.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 73,311
Lease Start 07-14-2005
#Units 13,532
Price/SF $59.21
Expiration 07-31-2030
Tenant Type Pharmacy
NOI $369,000
R. Term 6.1
Ownership Fee Simple
Rent/SF $5.03
Increases 0.0%/0/yrs
Pop 5Mi 135,921
Lot/AC 1.68
Options 10/5yrs
AHHI 5Mi $173,539

Lease Highlights

  • PopShelf has subleased property from Walgreens (Dark)
  • Terms of PopShelf sublease are unknown
  • Walgreens has 7 years remaining in their current lease with 10 (5-year) options to extend
  • Lease features no rent increases
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Walgreens (NASDAQ: WBA)

Location Description

The subject property is located near the signalized, hard corner intersection pf Sienna Parkway and State Highway 6, which supports over 82,000 vehicles per day. Furthermore, the asset benefits from nearby access to Fort Bend Parkway Toll Road (24,200 VPD), making this an ideal, centralized location with easy commutes. The site is ideally positioned less than 4 miles southeast of Missouri City...

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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 : 13,615 80,591 209,954
2023 Total Population : 12,280 73,679 196,765
2023 Employed Civilian Pop : 6,358 36,777 96,337
2023 Total Businesses : 153 1,033 3,503
2023 Average Household Income : $ 141,441 $ 130,710 $ 124,605
2023 Total Consumer Spending : $ 486 M $ 2693 M $ 6678 M
2023 Median Age : 36 36 36
2023 Total Households : 4,108 24,340 63,121
2023 Pop Age 25+: Bachelor's Degree : 3,152 15,397 35,750
2023 Average Home Value : $ 330,669 $ 339,957 $ 333,208
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Lake Shore Harbour Dr 2007 419 0.18 mi
Palm Harbour Dr 2007 450 0.24 mi
Vicksburg Blvd Cumberland Dr 2009 1,422 0.35 mi
Vicksburg Blvd Truesdale Dr 2006 804 0.37 mi
Vicksburg Blvd Hillcroft Ave 2001 3,260 0.42 mi
Cumberland Dr Shiloh Dr 2006 1,626 0.50 mi
Lakeshore Harbor Blvd Vicksburg Blvd 2006 2,073 0.50 mi
Vicksburg Blvd Hillcroft Ave 2011 6,970 0.51 mi
Lakeshore Harbor Blvd Hwy 6 2011 4,010 0.60 mi
Lakeshore Harbor Boulevard Trammel Fresno Rd 2019 11,256 0.61 mi

Listing Broker

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