20500 FM 529 - Drug Store FOR SALE


Cypress, TX 77433
$4,135,338 USD
510-388-4438
20500 FM 529, Cypress, TX for Sale
$4,135,338 USD
Drug Store - FOR SALE
1/5
null | 6.65% Cap Rate

20500 FM 529
Cypress, TX 77433


HIGHLIGHTS

  • Absolute NNN Lease with Zero Landlord Responsibilities
  • Scheduled Rental Increases Every 5 Years
  • Income Tax Free State
  • Corporate Guarantee – Backed By Walgreens Boots Alliance (NASDAQ: WBA)
  • Long-Term Tenant Commitment – Walgreens Operating Since 2004
  • Prime Signalized Corner With ±85,000 Combined Vehicles per Day

OVERVIEW

The Kase Group is pleased to present the opportunity to acquire a Walgreens located in Cypress, Texas. The ±14,560 square foot building is situated on a ±1.62-acre parcel and is secured by an Absolute NNN lease with zero landlord responsibilities. The lease is backed by Walgreens Boots Alliance (NASDAQ: WBA) and expires in 2040. The lease includes twelve 5-year renewal options, each with 5% rental increases. Strategically located at a signalized intersection, the property benefits from excellent visibility with traffic counts exceeding 85,000 vehicles per day. The surrounding trade area includes high-performing national tenants such as H-E-B, Kroger, CVS, Chick-fil-A, Dollar Tree, Sherwin-Williams, AutoZone, Whataburger, Jack in the Box, and Sonic. Cypress is a booming suburban community in Harris County, approximately 25 miles northwest of Downtown Houston. The area is anchored by top-rated schools, expansive master-planned communities such as Bridgeland, and sustained commercial growth. With a population of nearly 300,000 within a 5-mile radius and an average household income above $110,000, Cypress represents one of the most desirable and rapidly developing submarkets in Greater Houston.

FOR SALE DETAILS

PRICE

$4,135,338 USD

PRICE/SF

$284 USD /SF

CAP RATE

6.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

79

LAND DETAILS

LAND ACRES

1.62 AC

LAND SF

70,567 SF

ZONING

None

APN/PARCEL ID

1256840010002

ASK ABOUT THIS PROPERTY

Jeff BraccoThe Kase GroupMore Info
510-388-4438

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Jeff BraccoThe Kase GroupMore Info
510-388-4438

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