Walgreens Absolute NNN Lease | Village Medical Location

11525 S Texas 6, Sugar Land, TX 77498, USA
$8,133,333

Description

Marcus & Millichap is pleased to present for sale this Absolute Net Leased Walgreens located at 11525 Highway-6 in Sugar Land, Texas within the greater Houston MSA. The subject property consists of a free-standing building comprised of 14,490 square feet of retail space which includes a Village Medical clinic and is situated on a large 1.87- acre parcel of land.
Strategically located on the Hard-Signalized Intersection of W Airport Boulevard and Highway-6, a major North-South thoroughfare, the property is highly visible to more than 55,650 vehicles per day. This infill location benefits from superb demographics including over 331,000 full time residents in the immediate area with an average household income exceeding $117,104 in the 1-mile radius. The immediate trade area is also home to a number of National and Regional retailers including but not limited to AutoZone, The Home Depot, Whataburger, CVS, Bank of America, Kroger, Taco Bell, Chase Bank, Burger King, Walmart, and Sam’s Club.
Walgreens originally executed a 25 Year Absolute Net-Lease when originally built in 2002. Walgreens recently exercised an early option extending their initial term out until December of 2032 while also adding a Village Medical Clinic to the site, showing a tremendous commitment to the location. They currently have over 11 years of initial term remaining on the lease.
Walgreens (NYSE: WBA) is a publicly traded company with an S&P Credit Rating of BBB and is ranked #17 in the Fortune 500 (2019). Some financial highlights include 2018 Revenues of $131.537 billion and 2018 Net Profits of $5.024 billion. Walgreen Co. operates over 8,200 stores in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies

  • Walgreens Corporate Guarantee (NYSE: WBA)
  • Investment Grade Tenant (S&P BBB)
  • Hard Signalized Corner with Great Visibility | Visible to over 55,650 vehicles/day
  • Excellent Demographics | 331,000+ Full Time Residents in Immediate Trade Area
  • Affluent Market | Average Household Income exceeds $117,000 in 1-Mile
  • Village Medical Location | Offers Full-Service Physician-Led Clinic
  • Strong Sales
  • Houston, Texas MSA
  • Long Term Lease | Zero Landlord Responsibility
  • Fee Simple Allowing for Depreciation
  • Drive-Thru Pharmacy

Property Documents

  • Walgreens-Sugar-Land-TX-om-ib
  • City: Sugar Land
  • State/county: Texas
  • Zip/Postal Code: 77498
  • Country: United States

Detail

  • Price: $8,133,333
  • Year Built: 2002

Additional details

  • CAP RATE: 4.50%
  • NOI: $366,000

Features