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DOM: 5 Updated: 06.25.25 Posted: 06.25.25 Status: Active     06.25.25

Summary

Price $3,140,000
Built/Renov 2009
Tenant Walgreens
Cap Rate 9.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,587
Lease Start 09-26-2023
#Units 12,500
Price/SF $215.26
Expiration 09-30-2038
Tenant Type Pharmacy
NOI $298,275
R. Term 13.3
Ownership Fee Simple
Rent/SF $20.45
Increases 5.0%/5/yrs
Pop 5Mi 164,215
Lot/AC 1.39
Options 12/5yrs/5%
AHHI 5Mi $64,698

Highlights

  • Walgreens has 13+ years remaining on lease — tenant continues paying rent despite the store being dark.

  • Lease features 5% rental increases every 5 years throughout the initial term, ensuring steady growth and inflation protection.

  • Absolute NNN lease with zero landlord responsibilities

  • Lease is corporate guaranteed and signed by Walgreens Co.

Location Description

Walgreens is strategically located on North Alamo Road along high-traffic Interstate 2, which sees 95,400 vehicles per day, within a major retail corridor surrounded by national retailers such as Walmart Supercenter, Dollar General, Planet Fitness, and H-E-B Plus. The site is minutes from local schools, residential communities, McAllen Medical Center, and major apartment complexes, and is...

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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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Listing Broker

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