Walgreens - Clute, TX
51 Dixie Dr Clute , TX 77531

Walgreens - Clute, TX - retail for sale

Download offering memorandum:

Overview



JLL is pleased to exclusively offer a premier investment opportunity to acquire the fee simple interest in a single-tenant property (the “Property” or the “Asset”) leased to Walgreen Co. (the “Tenant“) in Clute, TX. The Property is situated at the lighted intersection of Plantation Drive and Dixie Drive that sees over 30,000 VPD. The Property is located in a busy Clute location with immediate proximity to the Nolan Ryan Expressway, Brazoswood High School and numerous nationwide tenants. Walgreens, an investment grade tenant (BBB/Stable (S&P)); has occupied the property since 1973, with extension options available until 2067.


Investment highlights


  • Strong operating history from the tenant dating back to 1973
  • Proximate to the Nolan Ryan Expressway in dense retail hub
  • AHHI within a 5-mile radius is over $90,000 and expected to grow to over $100,000 over the next 5 years
  • Investment-grade tenancy (S&P: BBB/Stable)
General
Property type Retail
Tenure type Sale/Purchase
Property address 51 Dixie Dr, Clute, TX 77531-5147
Land in acres 1.4
Building size 13,950  ft2
Year built 1997
Financial
Price $2,781,000
Cap rate 6.00%
Current NOI $166,860.00
Lease
Tenant's name Walgreens Company
Lease type NN
Annual rent $166,860.00
Lease expiration date 05/31/2032
Remaining term 12.4Yrs

Walgreens - Clute, TX - retail for sale

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