Walgreens: The Colony, TX 5297 State Highway 121 13,650 SF Retail Building The Colony, TX 75056 $8,397,056 CAD ($615.17 CAD/SF) 5.85% Cap Rate
INVESTMENT HIGHLIGHTS
- Walgreens’ NNN lease recently commenced in November 2023 and features ±13.8 years of term remaining.
- Located at the signalized intersection of Paige Road (18,271 VPD) and TX-121 (22,946 VPD), which runs alongside the Sam Rayburn Tollway (120,950 VPD).
- 8.2 MSF of retail, 12.9 MSF of office, 5.9 MSF of industrial, and 15,640 multifamily units within a 3-mile radius.
- 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.
- Adjacent to 5 hospitality properties totaling over 750 rooms.
- Within 2 miles of the 433-acre Grandscape retail and entertainment development.
EXECUTIVE SUMMARY
CBRE is pleased to offer for sale the 13,650-square-foot Walgreens situated on 1.80 acres in The Colony, TX - a component of the Dallas-Fort Worth-Arlington, TX MSA (Population: 8.0M). Walgreens’ NNN lease recently commenced in November 2023 and features ±13.8
years of term remaining with 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.
years of term remaining with 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,650 SF
Building Class
C
Year Built
2002
Price
$8,397,056 CAD
Price Per SF
$615.17 CAD
Cap Rate
5.85%
NOI
$491,228 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.80 AC
Parking
75 Spaces (5.49 Spaces per 1,000 SF Leased)
Frontage
489’ on Paige Road
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R194868 | Improvements Assessment | $2,005,776 CAD |
| Land Assessment | $3,147,963 CAD | Total Assessment | $5,153,738 CAD |
