Walgreens 12959 Aldine Westfield Rd
14,800 SF Retail Building Houston, TX 77039 $3,866,688 CAD ($261.26 CAD/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute Net Lease with 5.1 Years Remaining
- More than 267,436 Residents Within a Five-Mile Radius
- Tenant Paid for the VillageMD Renovation at Their Own Expense
- Signalized Hard Corner Location on Aldine Westfield Road and Aldine Mail Route Road; Combined Traffic Counts Exceed 27,110 Vehicles per Day
- Large 1.39 Acre Parcel with Ample Parking and Multiple Access Points
- One Mile to Hardy Toll Road (60,500 VPD)
EXECUTIVE SUMMARY
Offered for sale is the opportunity to acquire an absolute net lease Walgreens in Houston, Texas. The property consists of a 14,800-square-foot, freestanding building that sits on 1.39 acres of land. There are 4.3 years remaining on the current lease term and ten, 5-year options remaining.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,800 SF
Building Class
B
Year Built
2004
Price
$3,866,688 CAD
Price Per SF
$261.26 CAD
Cap Rate
8%
NOI
$309,278 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.39 AC
Parking
45 Spaces (3.04 Spaces per 1,000 SF Leased)
Frontage
185’ on Aldine Westfield Rd
AMENITIES
- Pylon Sign
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 1218780010005 | Improvements Assessment | $2,702,668 CAD |
| Land Assessment | $868,804 CAD | Total Assessment | $3,571,472 CAD |
