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Replaceable Rent Levels 1801 FM 1765 15,025 SF Retail Building La Marque, TX 77568 $3,908,576 CAD ($260.14 CAD/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Under market rent with Walgreens paying $13.89 per square foot.
- The lease features 5% rental increases at each 5 year option period beginning in 2030.
- Close proximity to Interstate 45, which connects Galveston to Houston and then to Dallas, with over 60,000 vehicles per day.
- In 2019 Walgreens restructured and extended its lease. In 2025, Walgreens renewed its next 5 year option as scheduled.
- Located approximately 40 miles from Downtown Houston, the Houston MSA is the fifth-most populous metropolitan statistical area in the United States.
- 1.5 miles south of HCA Houston Healthcare Mainland, a 222-bed hospital.
EXECUTIVE SUMMARY
We are pleased to market for sale the Walgreens property located at 1801 Texas Ave, La Marque, TX 77568 ("The Property"). Walgreens has been operating at the site for 25 years and has 5 years of firm term remaining before the 6 (5-year) option periods.
The Walgreens lease features under market rent levels, with Walgreens paying $13.89 per square foot, allowing for an investor to have minimal risk in future rent replacement. Additionally, Walgreens has a history of lease renewals at this site. Operating at the location since 2000, Walgreens has either restructured or extended its lease in both 2019 and 2025.
La Marque is strategically positioned approximately 40 miles south of Downtown Houston, within the Houston MSA, the fifth-most populous metropolitan statistical area in the United States. Located 1.5 miles from the Property, HCA Houston Healthcare Mainland serves as a major healthcare anchor for the region. This 222-bed acute care facility features a Level III Trauma Center, driving daily pharmacy-related traffic to the Property.
The Property also benefits from its location within a robust industrial corridor, with over 7.83 million square feet of industrial space nearby, anchored by INEOS Styrolution, a leading global styrenics supplier. The INEOS facility alone encompasses 5.2 million square feet of chemical and oil refining operations, providing substantial employment and economic stability to the area.
Listed in conjunction with Brian Brockman, Bang Realty - Texas Inc., 513-898-1551, wg@bangrealty.com, TX DRE Lic. 701472.
The Walgreens lease features under market rent levels, with Walgreens paying $13.89 per square foot, allowing for an investor to have minimal risk in future rent replacement. Additionally, Walgreens has a history of lease renewals at this site. Operating at the location since 2000, Walgreens has either restructured or extended its lease in both 2019 and 2025.
La Marque is strategically positioned approximately 40 miles south of Downtown Houston, within the Houston MSA, the fifth-most populous metropolitan statistical area in the United States. Located 1.5 miles from the Property, HCA Houston Healthcare Mainland serves as a major healthcare anchor for the region. This 222-bed acute care facility features a Level III Trauma Center, driving daily pharmacy-related traffic to the Property.
The Property also benefits from its location within a robust industrial corridor, with over 7.83 million square feet of industrial space nearby, anchored by INEOS Styrolution, a leading global styrenics supplier. The INEOS facility alone encompasses 5.2 million square feet of chemical and oil refining operations, providing substantial employment and economic stability to the area.
Listed in conjunction with Brian Brockman, Bang Realty - Texas Inc., 513-898-1551, wg@bangrealty.com, TX DRE Lic. 701472.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
15,025 SF
Building Class
C
Year Built
2000
Price
$3,908,576 CAD
Price Per SF
$260.14 CAD
Cap Rate
7.50%
NOI
$293,143 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
2.09 AC
Opportunity Zone
Yes
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- -
- -
-
Lorem Ipsum
-
Jan 0000
Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | - | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 7354-0000-0001-000 | Improvements Assessment | $3,216,635 CAD |
| Land Assessment | $147,361 CAD | Total Assessment | $3,363,996 CAD |
PROPERTY TAXES
Parcel Number
7354-0000-0001-000
Land Assessment
$147,361 CAD
Improvements Assessment
$3,216,635 CAD
Total Assessment
$3,363,996 CAD
(619) 297-0055
x302
CONTACTS
-
Jason Pongsrikul -
Chris Barry -
Pharma Property Group- Drugstore Specialists
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Replaceable Rent Levels | 1801 FM 1765
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