1226 W MCDERMOTT DR Allen TX 75013-6304 APN: 2070922

Property History

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Property Type

Retail

Property Subtype

Convenience Store, Pharmacy/Drug, Storefront

Asking Details

Asking Price

$3,632,114

Asking Cap Rate

Asking NOI

$254,248

Price/Sq Ft

$261.21

Marketing Description

Hard Corner Location | 54,000+ VPD | Immediate US-75 Access

The Property occupies a hard corner at the signalized intersection of W McDermott Drive and S Alma Drive, two of west Allen's primary commuter routes, providing excellent visibility and access. The Property features direct ingress and egress to both corridors, allowing for easy access from all directions.
W McDermott Drive carries over 37,000 vehicles per day and S Alma Drive an additional 17,000, for a combined 54,000+ vehicles per day passing the intersection.
The Property sits less than a half mile from US-75 (Central Expressway), which carries over 174,900 vehicles per day and connects north to the Sam Rayburn Tollway and south toward downtown Dallas which is approximately 30 minutes away.

Healthcare-Anchored Trade Area | Proximity to Texas Health Presbyterian Hospital Allen

The Property benefits from a healthcare-rich trade area anchored by Texas Health Presbyterian Hospital Allen, an 88-bed acute-care hospital located within a mile of the Property, with over 500 physicians on staff across more than 25 specialties.
The surrounding corridor features a dense concentration of medical, dental, and outpatient offices, generating consistent daytime demand and supporting over $25 million in annual prescription-drug spending within 3 miles.

Strong Corporate Workforce | 12,000+ Daytime Employees in the Immediate Area

The Property is supported by a large workforce, with more than 12,000 daytime employees within 1 mile and over 106,000 within 3 miles, roughly 40% of whom hold professional and management occupations.
Major corporate employers including Experian, Frontier Communications, Jack Henry & Associates, and CVE Technology Group are clustered approximately 2 miles south of the Property along the US-75 / Central Expressway corridor.
Beyond Allen, the Property draws from major regional employment centers in Plano, Frisco, and the broader Dallas-Fort Worth Metroplex, the nation's fourth-largest metro and home to 18 Fortune 500 headquarters.

Abs. NNN Lease | 1st Option Period Exercised with No Rental Concessions | Below-Market Rent

The Property features a freestanding 14,000 SF building on a 2.20-acre corner parcel, providing strong intrinsic value and residual real estate within a built-out, high-barrier submarket.
The Property is subject to a long-term Absolute NNN lease directly with Walgreens providing corporate-level backing, limited landlord responsibilities, and a largely passive investment.
Walgreens recently exercised their first option period with no rental concessions, demonstrating their ongoing commitment to the location and the surrounding Allen market.
The in-place rent is low ($18 PSF) relative to current on-market Walgreens locations across Texas, offering an attractive rent basis and below-market in-place income.
Walgreens is one of the largest retail pharmacy operators in the United States, lending strong national brand recognition and consistent customer draw to the Property.

Affluent, Rapidly Growing Demographics | 16,000+ Residents | $174,000+ Avg HH Income

The Property is supported by a deep residential base of approximately 16,000 residents within 1 mile and 132,000 residents within 3 miles. Both regions are projected to grow another 14% by 2030.
Average household incomes are among the highest in the region, exceeding $174,000 within 1 mile and $149,000 within 3 miles.
Allen is one of the fastest-growing and most affluent suburbs in Collin County, one of Texas' wealthiest and fastest-growing counties, and was ranked among the top suburbs to live in America (Niche, 2025).
The Property benefits from numerous local schools located within 1 mile to create significant daily traffic in the area. Such schools include but are not limited to Green Elementary (750+ students), Norton Elementary (650+ students), Dr. E.T. Boon Elementary (775+ students) and Ereckson Middle School (1,200+ students).
Additionally, approximately 2 miles away is Allen High School (5,200+ students), the district's single comprehensive high school and the largest single-campus high school in Texas.

Dense Retail Corridor | Near Major Mixed-Use Developments

The Property is part of a retail node anchored by a Kroger grocery store and including national tenants such as Braum's, Sonic Drive-In, Regions Bank, and Firestone, among others.
The Property is situated within an established retail corridor featuring over 7.5M SF of retail space within 2 miles, anchored by national retailers including Walmart Supercenter, Target, Lowe's, Home Depot, Best Buy, Dick's Sporting Goods, and TJ Maxx & HomeGoods, among others.
Nearby regional draws include Allen Premium Outlets, the Village at Fairview / Fairview Town Center (anchored by Whole Foods, Dillard's, Macy's, and JCPenney), and the Village at Allen (home to Super Target, Best Buy, and Top Golf).
The area continues to attract significant new investment, including The Farm in Allen (135 acres with over 1.6M SF of office, retail, dining, and residential), The Avenue (80 acres with over 1.25M SF of office, retail, dining, and entertainment, plus residential and hospitality), and Sloan Corners (500-acre, $3B development), reinforcing long-term demand and underlying real estate value.

Investment Highlights

Hard Corner Location with Visibility to 54,000+ VPD
- Less than a half mile to US-75 – 175,000 VPD
Absolute NNN Lease | Below-Market Rent – $18 PSF
- First option period exercised with no rental concessions
Proximity to Major Area Hospital
- $25M+ in annual prescription-drug spending within 3 miles
Situated Amongst Rooftops in the Immediate area
- 16,000 residents with $174,000 average household incomes
Strong Daytime Employment Base
- 12,000 employees within 1 mile
Near Major Retailers and Mixed-Use Developments
- 7.5M SF of retail space in the immediate area

Property Type

Retail

Property Subtype

Convenience Store, Pharmacy/Drug

Marketing Description

SRS National Net Lease Group in collaboration with SRS Real Estate Partners-West, LLC (AZ) is pleased to present the rare opportunity to acquire a Walgreens Portfolio comprised of six (6) Walgreens investment properties located across five (5) states. The portfolio is comprised of 87,085 SF on 10.86 acres of land. Each property is guaranteed by Walgreen Co., a subsidiary of Walgreens Boots Alliance, Inc. (NASDAQ: WBA | S&P: BBB). All leases within this portfolio are absolute NNN with tenant responsible for all costs, including taxes, insurance, CAM, and all aspects of the building with zero landlord responsibilities. Each lease has 9 years remaining with 10 (5-Year) options to extend. All leases have identical commencement and expiration dates and all 6 properties are cross-collateralized by a single, high leverage, non-recourse assumable loan with a maturity date matching the lease expiration. The average rent per square foot is substantially lower than comparable retail pharmacy product on the market and every store is a consistently strong performer. All stores are located at prominent, signalized corners within densely populated, major MSA’s. The investment offers the rare opportunity to acquire a diverse portfolio of properties with a minimal equity requirement. In addition it provides an investor instant portfolio diversification and risk mitigation by acquiring properties in different markets throughout the country. This portfolio offers a viable alternative for an exchange buyer with equity looking for passive, above market returns as opposed to acquiring a traditional single up-leg asset and having to source new debt. Instead of putting all eggs in one basket this offering allows for the seamless acquisition of a diverse portfolio with attractive in place debt and the additional long term benefit of depreciating 6 assets.

Investment Highlights

Portfolio includes 6 Walgreens locations across Arizona, Illinois, New Mexico, Oklahoma and Texas
Each location has 9 yrs remaining on their abs NNN lease followed by 10 (5-yr) options | All leases have the same commencement and expiration dates
Average rent/SF is $19.49 - SIGNIFICANTLY LOWER THAN COMPARABLE RETAIL PHARMACY PROPERTIES
Properties are cross-collateralized by a single, high leverage, non-recourse loan
EQUITY REQUIREMENT $6,410,372 (24%)
All locations are consistently strong performing stores | Located at prominent, signalized corners within densely populated MSA's
Excellent upleg option for exchange buyer w/ equity looking for passive returns | Offers investor instant portfolio diversification & risk mitigation

Property Type

Retail

Asking Details

Asking Cap Rate

******

Marketing Description

Marcus & Millichap is pleased to present a portfolio of six Walgreens located across five states comprising of a total of 87,085 square feet of retail on 10.86 acres of land. Walgreen Co. backs all six absolute NNN Leases which require no landlord responsibilities. Each lease has seven years remaining on the base term with 10 (five-year) extensions to renew. All leases have the same expiration dates and are all cross collateralized by a single non-recourse loan with a mMarcus & Millichap is pleased to present a portfolio of six Walgreens located across five states comprising of a total of 87,085 square feet of retail on 10.86 acres of land. Walgreen Co. backs all six absolute NNN Leases which require no landlord responsibilities. Each lease has seven years remaining on the base term with 10 (five-year) extensions to renew. All leases have the same expiration dates and are all cross collateralized by a single non-recourse loan with a maturity date matching the expiration dates of the leases. An investor has the opportunity to purchase a NNN Portfolio of Walgreens backed credit properties with only 23 percent down payment. All six locations have very reasonable rents and are located at hard corner signalized intersections.

Walgreens, one of the nation’s largest drugstore chains, constitutes the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), the first global pharmacy-led, health, and wellbeing enterprise. More than 8 million customers interact with Walgreens each day in communities across America, using the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice. Walgreens operates 8,100 drugstores with a presence in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Walgreens digital business includes,,, and Walgreens also manages more than 400 Healthcare Clinics and provider practice locations around the country. Walgreens Boots Alliance reported sales of $118.21 Billion in fiscal year 2017 and their credit ranking by Standard and Poor’s is BBB. Walgreens Boots Alliance (Nasdaq: WBA) is the first global pharmacy led, health and wellbeing enterprise in the world. The company was created through the combination of Walgreens and Alliance Boots in December 2014, bringing together two leading companies with iconic brands, complementary geographic footprints, shared values and a heritage of trusted health care services through pharmaceutical wholesaling and community pharmacy care, dating back more than 100 years.aturity date matching the expiration dates of the leases. An investor has the opportunity to purchase a NNN Portfolio of Walgreens backed credit properties with only 21 percent down payment. All six locations have very reasonable rents and are located at hard corner signalized intersections.

Walgreens, one of the nation’s largest drugstore chains, constitutes the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), the first global pharmacy-led, health, and wellbeing enterprise. More than 8 million customers interact with Walgreens each day in communities across America, using the most convenient, multichannel access to consumer goods and services and trusted, cost-effective pharmacy, health and wellness services and advice. Walgreens operates 8,100 drugstores with a presence in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Walgreens digital business includes,,, and Walgreens also manages more than 400 Healthcare Clinics and provider practice locations around the country. Walgreens Boots Alliance reported sales of $118.21 Billion in fiscal year 2017 and their credit ranking by Standard and Poor’s is BBB. Walgreens Boots Alliance (Nasdaq: WBA) is the first global pharmacy led, health and wellbeing enterprise in the world. The company was created through the combination of Walgreens and Alliance Boots in December 2014, bringing together two leading companies with iconic brands, complementary geographic footprints, shared values and a heritage of trusted health care services through pharmaceutical wholesaling and community pharmacy care, dating back more than 100 years.

Investment Highlights

6 Walgreens locations with Absolute NNN Leases in Texas, Arizona, New Mexico, Arizona, and Illinois
Walgreens Corporate Guarantee (NYSE: WBA) – Investment Grade Tenant (S&P BBB)
Minimal Equity Requirement: Assumable Non Recourse Loan with 21% Equity Requirement (+/- $5.3 Million)
All 6 Walgreens have identical lease expiration dates which match the loan maturity date
Stores are located on hard corner signalized intersections
Fee Simple Assets allowing for Depreciation

Loan History

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Financial History

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Net Operating Income

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Reporting Date

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Tax History

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Contact Information

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