731 W Belt Line Rd, DeSoto, TX 75115 For Sale

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-thru pharmacy equipped, freestanding, Walgreens investment property located in DeSoto, Texas (Dallas-Fort Worth MSA). Walgreens has 8+ years remaining on the initial term of the lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Headquartered in Deerfield, IL, Walgreens operates over 9,200 stores across all 50 states and was recently included in FORTUNE’s 2020 list of the World’s Most Admired Companies for the 27th consecutive year.

Walgreens is strategically located at the signalized, hard corner intersection of W Belt Line Road and N Westmoreland Road, averaging a combined 29,300 vehicles passing by daily. The building is equipped with a drive-thru pharmacy, providing ease and convenience for customers. The site is ideally situated adjacent to Walmart Supercenter, a premium big-box tenant that significantly increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. W Belt Line Road is a major retail corridor traveling through DeSoto, featuring a variety of other national/credit tenants including The Home Depot, Target, Kohl’s, Ross Dress for Less, Dillard’s, Hobby Lobby, Marshalls, and more, further increasing consumer traffic to the immediate trade area. In addition, the asset is within close proximity to The Beacon at Westmoreland (194 units), a brand new luxury apartment complex that provides a direct residential consumer base from which to draw. The 5-mile trade area is supported by more than 184,000 residents and 54,500 daytime employees. Residents with 1 mile of the subject property feature a healthy average household income of $91,000.