1801 FM 1765 - Drug Store FOR SALE


La Marque, TX 77568
$2,800,000 USD
619-297-0055
1801 FM 1765, La Marque, TX for Sale
$2,800,000 USD
Drug Store - FOR SALE
1/2
null | 7.5% Cap Rate

1801 FM 1765
La Marque, TX 77568


HIGHLIGHTS

  • Under market rent with Walgreens paying $13.89 per square foot.
  • In 2019 Walgreens restructured and extended its lease. In 2025, Walgreens renewed its next 5 year option as scheduled.
  • The lease features 5% rental increases at each 5 year option period beginning in 2030.
  • Located approximately 40 miles from Downtown Houston, the Houston MSA is the fifth-most populous metropolitan statistical area in the United States.
  • Close proximity to Interstate 45, which connects Galveston to Houston and then to Dallas, with over 60,000 vehicles per day.
  • 1.5 miles south of HCA Houston Healthcare Mainland, a 222-bed hospital.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$185 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Replaceable Rent Levels

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.09 AC

LAND SF

91,040 SF

ZONING

-

APN/PARCEL ID

7354-0000-0001-000

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.