5297 State Highway 121 | The Colony, TX 75056
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5297 State Highway 121
The Colony, TX 75056
Walgreens: The Colony, TX · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Walgreens’ NNN lease recently commenced in November 2023 and features ±13.0 years of term remaining.
- Located at the signalized intersection of Paige Road (18,271 VPD) and TX-121 (22,946 VPD), which runs alongside the Sam Rayburn Tollway (120,950 VPD).
- 8.2 MSF of retail, 12.9 MSF of office, 5.9 MSF of industrial, and 15,640 multifamily units within a 3-mile radius.
- 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.
- Adjacent to 5 hospitality properties totaling over 750 rooms.
- Within 2 miles of the 433-acre Grandscape retail and entertainment development.
PROPERTY FACTS
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,650 SF
Building Class
C
Year Built
2002
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.80 AC
Parking
75 Spaces (5.49 Spaces per 1,000 SF Leased)
Frontage
489’ on Paige Road
PROPERTY TAXES
| Parcel Number | R194868 | Improvements Assessment | $2,025,767 |
| Land Assessment | $3,027,942 | Total Assessment | $5,053,709 |
PROPERTY TAXES
Parcel Number
R194868
Land Assessment
$3,027,942
Improvements Assessment
$2,025,767
Total Assessment
$5,053,709
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