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1408 N 16th St
Orange, TX 77630
Walgreens · Retail Property For Sale
Investment Highlights
- • 6.5% cap rate
- • Rare percentage-rent upside
- • 15+ years of optimal term remaining
- • Firm term through October 31, 2026
- • NNN lease
- • Located in strong Southeast Texas/Louisiana industrial market (port, refineries, LNG boom)
Executive Summary
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.
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.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,000 SF
Building Class
C
Year Built
1993
Price
$3,717,268 CAD
Price Per SF
$285.94 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.34 AC
Opportunity Zone
Yes
Frontage
156’ on 16TH ST
Property Taxes
| Parcel Number | 000635-000170 | Improvements Assessment | $1,213,832 CAD |
| Land Assessment | $188,232 CAD | Total Assessment | $1,402,064 CAD |
Property Taxes
Parcel Number
000635-000170
Land Assessment
$188,232 CAD
Improvements Assessment
$1,213,832 CAD
Total Assessment
$1,402,064 CAD
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