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Walgreens: Lubbock, TX 2417 82nd St 15,053 SF Retail Building Lubbock, TX 79423 $5,196,949 CAD ($345.24 CAD/SF) 8% Cap Rate

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Investment Highlights

Extended Net Lease with Renewal Options
Excellent Access & Visibility | Hard Corner Intersection of 82nd Street (20,851 VPD) & University Avenue (27,424 VPD)
Dense Retail & Commercial Corridor | 7.6 MSF Retail, 3.7 MSF Office, 6.3 MSF Industrial, 7,089 Multifamily Units & 2,015 Hotel Rooms within 3-Miles

Long-Term Operating History with Solid Reported Sales
Less Than 5 Miles to Texas Tech University (Enrollment: 41,000+)
Lubbock, TX MSA (Population: 362,839)

Executive Summary

CBRE is pleased to offer for sale the 15,053-square-foot Walgreens situated on 1.48 acres in Lubbock, Texas (MSA Population: 362,839). Originally set to expire in 2021, Walgreens’ net lease was previously extended through 2032 and currently features ±6.3 years of primary term remaining and eight, 5-year options to renew.

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Drug Store

Building Size

15,053 SF

Building Class

Year Built

2000

Price

$5,196,949 CAD

Price Per SF

$345.24 CAD

Cap Rate

NOI

$415,750 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.23

Lot Size

1.48 AC

Parking

75 Spaces (4.98 Spaces per 1,000 SF Leased)

Frontage

244’ on 82nd St

Pylon Sign

Signage

Signalized Intersection

Drive Thru

Retailer
-
$9.99
Lorem Ipsum
Jan 0000

Walgreens began in 1901 on Chicago's South Side, when pharmacist Charles R. Walgreen Sr. opened a neighborhood drugstore that grew into a national chain. Walgreens later combined with Alliance Boots to form Walgreens Boots Alliance, bringing together retail pharmacy, pharmaceutical wholesaling, and healthcare services under one business. Walgreens Boots Alliance operates an integrated healthcare, pharmacy, and retail model spanning U.S. and international operations, with businesses centered on prescription filling, consumer health products, beauty items, and related services.