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Walgreens 731 W Belt Line Rd 14,820 SF Retail Building DeSoto, TX 75115 $5,444,088 CAD ($367.35 CAD/SF) 7.18% Cap Rate
INVESTMENT HIGHLIGHTS
- 8+ Years Remaining | Scheduled Rental Increases | Leading Pharmacy Store Chain
- Signalized, Hard Corner Intersection | Drive-Thru Pharmacy | Excellent Visibility & Access
- Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Adjacent to Walmart Supercenter | Strong Retail Corridor | Nearby National/Credit Tenants
EXECUTIVE SUMMARY
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-thru pharmacy equipped, freestanding, Walgreens investment property located in DeSoto, Texas (Dallas-Fort Worth MSA). Walgreens has 8+ years remaining on the initial term of the lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Headquartered in Deerfield, IL, Walgreens operates over 9,200 stores across all 50 states and was recently included in FORTUNE’s 2020 list of the World’s Most Admired Companies for the 27th consecutive year.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,820 SF
Building Class
B
Year Built
2006
Price
$5,444,088 CAD
Price Per SF
$367.35 CAD
Cap Rate
7.18%
NOI
$390,994 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
2.01 AC
Zoning
PD - Planned Development
Parking
74 Spaces (4.99 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Signage
- Signalized Intersection
- Drive Thru
- Monument Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 200705000A01A0000 | Improvements Assessment | $7,128,643 CAD |
| Land Assessment | $1,463,720 CAD | Total Assessment | $8,592,362 CAD |
PROPERTY TAXES
Parcel Number
200705000A01A0000
Land Assessment
$1,463,720 CAD
Improvements Assessment
$7,128,643 CAD
Total Assessment
$8,592,362 CAD
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Walgreens | 731 W Belt Line Rd
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