Walgreens - FM 1960 Road - Houston, TX
4530 FM 1960 Rd W Houston , TX 77069

Walgreens - FM 1960 Road - Houston, TX - retail for sale

Download offering memorandum:

Overview



JLL is pleased to exclusively offer a premier ground lease opportunity to acquire a single-tenant property leased to Walgreen Drugs (the “Property“ or the “Asset”) in Houston, TX. The Property is situated on a 1.54-acre corner parcel between Stuebner Airline Dr. and FM 1960 RD W, a four-way, signalized intersection. One of the busiest intersections in Northwest Houston, the property is adjacent to local demand drivers - Ross, Starbucks, Hobby Lobby, and Petco. Walgreen, an investment grade tenant (BBB/Stable (S&P)); has occupied the property since 2014, with 14.9 years remaining on the primary term of the lease.


Investment highlights


  • Rare Walgreens ground lease with zero landlord responsibilities
  • 10% increases within renewal periods
  • Preeminent Houston location with over 80,000 VPD
  • Exceptional retail submarket fundamentals
  • Affluent demographic profile with growth trends
General
Property type Retail
Tenure type Sale/Purchase
Property address 4530 FM 1960 Rd W, Houston, TX 77069-4602
Market Houston
Land in acres 1.54
Building size 14,950  ft2
Financial
Price $4,571,000
Cap rate 5.25%
Current NOI $240,000.00
Lease
Tenant's name Walgreens Company
Lease type NNN
Annual rent $240,000.00
Lease expiration date 08/14/2034
Remaining term 14.7Yrs

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