Listed by CBRE - Atlanta, CBRE Atlanta, CBRE - Midtown Manhattan
$6,929,500
Walgreens: San Antonio, TX
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,416
Cap Rate 8.5%
NOI $589,000
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 25
Lease Expiration 04/30/2031
Remaining Term 4.9
Rent Bumps No
Lease Options Ten, 5-Year Options
Price per SqFt $481
Year Built 2005
Acreage 1.580
Parking Spaces 69 spaces
Parking Per SqFt 4.79
Investment Type Net Lease
Lease Commencement 04/27/2006
Ground Lease No
Retail | 8.50% CAP | 14,416 SqFt
Marketing description
CBRE is pleased to offer for sale the 14,416-square-foot Walgreens situated on 1.48 acres in San Antonio, Texas (MSA Population: 2.73M+). Walgreens’ absolute NNN lease features ±5.0 years of primary term remaining with ten, 5-year options to renew.
Investment highlights
- Absolute NNN Lease with Renewal Options: Walgreens’ absolute NNN lease features ±5.0 years of primary term remaining with ten, 5-year options to renew.
- Top-Visited Location with Strong Sales: Very strong gross sales reports. By visits, this San Antonio store ranks among the top 2% of Walgreens locations nationwide, the top 1% in Texas, and the top 4% within a 15-mile radius according to Placer.ai.
- Excellent Access & Visibility | Outparcel to Military Market: Walgreens is positioned with excellent access and visibility at the corner of the intersection of South Zarzamora Street (18,251 VPD) and SW Military Drive (41,370 VPD), and is feet from the on-ramp to I-35 (71,108 VPD), which provides direct access to downtown San Antonio roughly 6 miles to the north. The site is an outparcel to the 83,850-square-foot Military Market shopping center that is further tenanted by TrueFit Athletic Club, Aaron’s, Raising Cane’s, Whataburger, Pizza Hut and Mattress Firm, among others.
- Across From the 783,978 SF South Park Mall: The property is strategically located across SW Military Drive from the 783,978-square-foot South Park Mall, which is anchored by Macy’s, JCPenney, Dick’s Sporting Goods and Fitness Connection, among others. Additional retailers include Old Navy, Ulta Beauty, Bath & Body Works, Finish Line, Foot Locker, Zumiez, Victoria’s Secret, GameStop, Lids, LensCrafters, and American Eagle, to name a few. South Park Mall has welcomed nearly 864,000 visitors across 5.4M visits over the past 12 months and ranks among the 4% of shopping centers nationwide, the top 5% of shopping centers in Texas and the top 7% of shopping centers within 15-miles by visits (Placer.ai).
Listing Contacts
Listed by CBRE - Atlanta, CBRE Atlanta, CBRE - Midtown Manhattan
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$589,000.00
$49,083.33/mo
Valuation Metrics
0
DSCR
8.5%
Cap Rate
8.5%
ROI
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