Listed by Cromwell Commercial Group
$2,692,307
1408 N 16th St
Details
Property Type Retail
Sub Type Storefront
Square Footage 13,000
Cap Rate 6.50%
Occupancy 100%
Lease Type NNN
Year Renovated 2024
Retail | 6.50% CAP | 13,000 SqFt
Marketing description
Cromwell Commercial Group is pleased to present this freestanding 13,000+/- SF
retail asset located at a signalized corner in the primary retail corridor of Orange, TX.
The property is 100% occupied by investment-grade tenant, Walgreens, providing
strong credit tenancy and stability. As part of its ongoing store-optimization strategy,
Walgreens initially evaluated this location in 2023, and following further review,
chose to reinstate and extend the store in mid-2024 - one of the clearest indicators
of long-term store viability and market strength in today’s market.
Investment highlights
- 6.5% cap rate
- Firm term through October 31, 2026
- Rare percentage-rent upside
- NNN lease
- 15+ years of optimal term remaining
- Located in strong Southeast Texas/Louisiana industrial market (port, refineries, LNG boom)
Listing Contacts
Listed by Cromwell Commercial Group
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