Walgreens

510 North Alamo Road, Alamo, TX 78516

$3,140,000

Cap Rate 9.50%

DOM: 63 Updated: 07.30.25 Posted: 07.30.25 Status: Active 07.30.25

Summary

Price $3,140,000	Built/Renov 2009/2009	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 13.0	Ownership Fee Simple
Rent/SF $20.45	Increases 5.0%/5/yrs	Pop 5Mi 164,215
Lot/AC 1.39	Options 2/10yrs/5%	AHHI 5Mi $64,698

Highlights

Walgreens has 13+ years remaining on the current lease with 10 (5-year) options to extend
The lease features 5% rental increases
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at 510 N Alamo Rd, a signalized hard‑corner site just south of Interstate 2/U.S. 83, which carries approximately 95,400 vehicles per day. The N Alamo Road carries approximately 24,000 vehicles per day. The property sits at the center of a major retail corridor with strong national co‑tenancy nearby, including Walmart Supercenter, Dollar General, Planet...

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Key Features

In location for years
Highway location
Hospital close
Strong tenant synergy
Highway close
Strong demographics
Income tax free state
Absolute NNN
Long 10+ yr lease
Traded and rated company

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Links

Walgreens Wikipedia Walgreens Wikipedia Alamo, Texas Zip Code 78516

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walgreens
Guarantor:Corp T and Rated
Company:Walgreens Boots Alliance
# Units:12,500
Tenant S&P: BB-
Moody’s: Ba3
Stock: NASDAQ: WBA

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
2030 Total Population :	10,008	72,723	169,365
2025 Total Population :	9,656	70,266	164,007
2025 Employed Civilian Pop :	3,550	27,212	63,427
2025 Total Businesses :	367	1,175	3,154
2025 Average Household Income :	$ 59,108	$ 67,839	$ 66,775
2025 Total Consumer Spending :	$ 182 M	$ 1301 M	$ 2971 M
2025 Median Age :	36	34	32
2025 Total Households :	3,417	21,480	49,866
2025 Pop Age 25+: Bachelor's Degree :	554	4,826	11,330
2025 Average Home Value :	$ 140,695	$ 151,339	$ 156,055

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North Alamo Road	W Expy 83	2019	22,447	0.08 mi
North Alamo Road	W Expy 83	2022	23,995	0.08 mi
North Alamo Road	W Hackberry Ave	2019	13,143	0.19 mi
North Alamo Road	W Hackberry Ave	2022	23,395	0.19 mi
W Hackberry Ave	N Alamo Rd	2014	402	0.23 mi
North Alamo Road	Railroad Ave	2022	13,387	0.36 mi
	N 8th St	2022	9,679	0.36 mi
I 2;US 83	N 8th St	2021	96,836	0.37 mi
I 2;US 83	N 8th St	2022	90,043	0.37 mi
N 9th Pl	Hwy 83 Bus	2014	326	0.37 mi

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

394 Listings
114444 Views
181 Sold

Patrick Luther

SRS National Net Lease Group

Contact

446 Listings
125970 Views
214 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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