Walgreens Low Rent Infill Dallas Location
Retail | 6.64% CAP | 13,905 SqFt
Marketing description
Surmount is pleased to present for sale this Net Leased Walgreens located at 4202 S Carrier Parkway in Grand Prairie, Texas. The property is located within the Dallas-Fort Worth MSA, just 18 miles from Downtown Dallas and 25 miles from Downtown Ft. Worth. The subject property consists of a 13,905 SF free-standing building with a drive-thru and is situated on a large 1.86-acre parcel of land.
Strategically located in proximity to the entrance and exit ramps of the Lyndon B Johnson Freeway (I-20), which sees vehicle counts in excess of 190,112 per day, the property benefits from great visibility and tremendous vehicle traffic. Additionally, the property benefits from its location on the Hard-Signalized Intersection of S Carrier Parkway and Westchester Parkway with over 49,000 vehicles per day. The immediate trade area is home to Tom Thumb, Panera Bread, Chipotle, Brakes Plus, Chili’s, Denny’s, McDonald’s, Boston Market, IHOP, Cheddar’s Scratch Kitchen, The Home Depot, Chick-fil-A, and numerous other National and Regional Tenants.
Numerous apartment complexes surround this Walgreens including Prairie Gate Community Apartments, The Ellery at Westchester, Jefferson Vine Apartments, The Sutherland Apartments, Luxia Grand Prairie Apartments, and Winding Creek at the Preserve. There are also many brand new home developments nearby including Mira Lagos Crossing by First Texas Homes, Cedar Ridge Estates by Grand Homes, South Pointe by David Weekley Homes, and The Delaware by K. Hovnanian Homes.
Walgreens initially executed a 25-year lease in 2001 and currently has over two years remaining with six five-year options to extend.
Walgreens is a publicly traded company that operates the second-largest pharmacy store chain in the United States, behind CVS Health. It specializes in filling prescriptions, health and wellness products, and numerous other services with more than 8,200 locations across the U.S, District of Colombia, Puerto Rico, and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies.
Investment highlights
■ Walgreens Corporate Guarantee (NYSE: WBA)
■ Located within Dallas Fort Worth MSA
■ Drive-Thru Pharmacy
■ Average Household Income Exceeds $126,900 in a 1 Mile Radius
■ Store has Extended Hours from 8AM to Midnight Daily
■ Hard Signalized Corner with Great Visibility | Combined Traffic Counts Exceeding 49,000 Vehicles per Day
■ Located Right Off Interstate-20 Exits/Entrances | 190,112 Vehicles/Day
■ Major Employers in the Area Include Lockheed Martin, PolyAmerica, Inc., Bell Helicopter-Textron, Vought Aircraft Industries and Walmart
■ Numerous Apartment Complexes Surround this Walgreens including Prairie Gate Community Apartments, The Ellery at Westchester, Jefferson Vine Apartments, The Sutherland Apartments, Luxia Grand Prairie Apartments and Winding Creek at the Preserve
■ New Home Developments Nearby Include Mira Lagos Crossing by First Texas Homes, Cedar Ridge Estates by Grand Homes, South pointe by David Weekley Homes and The Delaware by K. Hovnanian Homes
■ Colleges and Universities Nearby Include Dallas International University, Lincoln College of Technology and Dallas Baptist University
■ Texas Is a No Income Tax State
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