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WALGREENS WITH STRONG SALES 107 W Rankin Rd 14,820 SF Retail Building Houston, TX 77090 $7,631,972 CAD ($514.98 CAD/SF) 7.05% Cap Rate
Investment Highlights
- Absolute NNN trophy Walgreens with zero landlord responsibilities, with a long term lease (1st termination option in 12 years, as of 11/1/2025)
- Superior annual visit count with nearly 618,700 visits in 2025 (Placer AI) and excellent reported sales ranging between $4M and $4.5M per year
- Houston is the 4 largest city in the U.S and the largest city in Texas, a no income tax state
- Ranked in the 98th percentile (top 2%) among all Walgreens stores nationwide and top 2% in the State of Texas (Placer AI)
- Dense retail area in the immediate vicinity, including numerous high-end auto dealerships, retail centers and residential neighborhoods
- The Houston MSA is one of the fastest growing metropolitan regions in the U.S with a population estimates around 7.8 Million people
Executive Summary
We are pleased to present this trophy Walgreens property located in Houston,
Texas. With approx.12 years (as of 11/1/2025) remaining until the first possible
termination option, this asset provides long-term stable cash flow with an
absolute NNN lease and no landlord responsibilities. Located in the tax-free
state of Texas with a population of 29.5 million people, the property is a
coveted asset within the thriving city of Houston, the largest in Texas and the
4th largest in the US. The greater Houston metro area counts a population in
excess of 7.8 million people with projected continued population growth.
Texas. With approx.12 years (as of 11/1/2025) remaining until the first possible
termination option, this asset provides long-term stable cash flow with an
absolute NNN lease and no landlord responsibilities. Located in the tax-free
state of Texas with a population of 29.5 million people, the property is a
coveted asset within the thriving city of Houston, the largest in Texas and the
4th largest in the US. The greater Houston metro area counts a population in
excess of 7.8 million people with projected continued population growth.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
14,820 SF
Building Class
A
Year Built
2012
Price
$7,631,972 CAD
Price Per SF
$514.98 CAD
Cap Rate
7.05%
NOI
$538,054 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.69 AC
Zoning
C
Frontage
Nearby Major Retailers
Property Taxes
| Parcel Number | 1189010010005 | Improvements Assessment | $2,639,319 CAD |
| Land Assessment | $1,199,986 CAD | Total Assessment | $3,839,305 CAD |
Property Taxes
Parcel Number
1189010010005
Land Assessment
$1,199,986 CAD
Improvements Assessment
$2,639,319 CAD
Total Assessment
$3,839,305 CAD
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WALGREENS WITH STRONG SALES | 107 W Rankin Rd
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