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2326 61st St
Galveston, TX 77551
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease – Zero landlord responsibilities, offering a fully passive, management-free investment
- Long-Term Security – Over 16 years remaining on the initial lease term, providing stable and predictable cash flow
- Prototypical Design – Drive-thru equipped positioned on a hardcorner, signalized intersection with five points of ingress/egress
- Tax-Free Income State – Texas has no state income tax, allowing investors to maximize after-tax return
- High-Performing Location – Ranked in the 72nd percentile in Texas and 66th percentile nationally by Placer
- Investment-Grade Credit – Backed by a corporate tenant with an S&P “BBB+” rating
EXECUTIVE SUMMARY
Absolute NNN Lease – Zero landlord responsibilities, offering a fully passive, management-free investment
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,813 SF
Building Class
B
Year Built
2004
Price
$9,764,461 CAD
Price Per SF
$706.90 CAD
Cap Rate
6.15%
NOI
$600,246 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.36 AC
Zoning
R
Parking
68 Spaces (4.92 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
- Wheelchair Accessible
- Accent Lighting
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 6741-0001-0001-000 | Improvements Assessment | $4,441,398 CAD |
| Land Assessment | $1,748,985 CAD | Total Assessment | $6,190,383 CAD |
PROPERTY TAXES
Parcel Number
6741-0001-0001-000
Land Assessment
$1,748,985 CAD
Improvements Assessment
$4,441,398 CAD
Total Assessment
$6,190,383 CAD
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