Listed by Matthews
$5,572,469
Walgreens
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 13,227
Cap Rate 7.25%
NOI $404,004
Tenancy Single
Brand/Tenant Walgreens
Lease Type NNN
Lease Expiration 12/31/2028
Rent Bumps No
Lease Options Ten 5-Year Options
Price per SqFt $421
Class A
Year Built 2003
Acreage 2.070
Investment Type Net Lease
Lease Commencement 01/01/2004
Ground Lease No
Ownership Fee Simple
Retail | 7.25% CAP | 13,227 SqFt
Marketing description
Seri Bryant (In conjunction with Matthews™, a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code).
Investment highlights
- Austin Light Rail Expansion - Austin's planned Orange Line extension to Congress Avenue and William Cannon Drive will enhance connectivity between The University of Texas, Downtown Austin, and Southeast Austin. As one of the city's most significant transit investments, the project is expected to improve accessibility, support population growth, and drive increased commercial activity throughout the corridor.
- Limited Pharmacy Competition - The trade area benefits from limited pharmacy competition, with Walgreens serving as the only major national drugstore operator in the immediate market. This unique positioning provides a strong opportunity to capture local demand for pharmacy services, health and wellness products, and everyday convenience purchases.
- High Traffic Counts & Visibility – The property offers outstanding visibility and access along major transportation corridors, with combined traffic volumes exceeding 314,000 vehicles per day on I-35 (176,200 VPD) and Highway 31 (138,500 VPD), providing strong exposure to a large consumer base. It also benefits from a prime location at the signalized intersection of E. William Cannon Drive and South Congress Avenue, which sees approximately 64,100 vehicles per day, further enhancing visibility and accessibility for retailers and service providers.
- Massive scale: With thousands of locations, Walgreens remains a dominant U.S. pharmacy network.
- Footprint optimization: The store closure initiative signals a disciplined approach to refocusing operations on profitable assets.
- Adaptability: The company continues to invest in omnichannel capabilities and human-centered services even amid structural realignment.
- Sycamore Partners Acquisition: Walgreens' acquisition by Sycamore Partners supports its long-term transformation by providing private ownership and operational expertise to help drive strategic initiatives.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$404,004.00
$33,667.00/mo
Valuation Metrics
0
DSCR
7.25%
Cap Rate
7.25%
ROI
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