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29495255
29494685

4849 TX-146, Baytown, TX 77520

CB
TX 794055
Matthews
JL
TX 825925
Matthews
Listed by Matthews
$2,974,771
128 days on market
Updated 76 days ago

Walgreens - Houston, TX MSA | 10.00% Cap | Sub-$3M Price

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,820
Cap Rate 10.00%
NOI $297,477
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Expiration 07/31/2031
Remaining Term 6
Lease Options Ten, 5-year
Price per SqFt $201
Year Built 2006
Buildings 1
Stories 1
Acreage 1.810
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ownership Fee Simple

Houston, TX MSA | 10.00% Cap | Sub-$3M Price | 21% Below Market | $2.79M Reported Sales

Investment highlights

  • Houston, TX MSA – Located in Baytown, TX—a key industrial and residential suburb within the Houston MSA—this Walgreens benefits from access to one of the nation’s most economically diverse metros, home to approximately 7.8million residents.

  • High-Growth Trade Area – Population and household growth within the 3-miletrade area is projected to increase by approximately 9.30% over the next fiveyears, positioning the property within a growing suburban market andsupporting sustained consumer demand and long-term foot traffic for theWalgreens location.

  • 21% Below Market Cost – At list price, this Walgreens is offeredat $200.73/SF, compared to an average of $256/SF for 10,000–20,000 SF retailproperties in this Baytown submarket per CoStar, positioning the assetat approximately 21.61% below prevailing market pricing.

  • Affluent Community – This Walgreens serves the Baytown market, east ofHouston, with the 1-mile average household income exceeding $106,000.

  • High-Visibility Location – Strategically situated at a signalized intersection with exposure to over 46,000 vehicles per day, this Walgreens benefits from exceptional visibility and consistent drive-by traffic.

Listing Contacts

CB
TX 794055
Matthews
JL
TX 825925
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$297,477.00
$24,789.75/mo

Valuation Metrics

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DSCR
10%
Cap Rate
10%
ROI

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Additional Information

Name
Patrick Graham
License
528005, 9005919 (TX)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
2699 Howell St., Suite 400, Dallas, TX 75204
Name
Christian Becker
License
794055
Name
Joshua Longoria
License
825925
Brokerage
Matthews Real Estate
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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