3435 Lakeview Pky - Drug Store FOR SALE


Rowlett, TX 75088
$4,767,000 USD
954-296-6955
3435 Lakeview Pky, Rowlett, TX for Sale
$4,767,000 USD
Drug Store - FOR SALE
1/10
null | 7.5% Cap Rate

3435 Lakeview Pky
Rowlett, TX 75088


HIGHLIGHTS

  • Established Location — Walgreens has Successfully Occupied this Location for over 21 Years
  • Excellent Assumable Debt - 25 year term, 25 year amortization, Fixed at 5.99% — callable any time after 10 years (after July 31, 2033)
  • Absolute NNN Corporate Walgreens Lease — There are ZERO Landlord Responsibilities
  • Preferred 5-year Option Structure — 10 x 5 Year Renewal Options
  • A+ Hard Signalized Corner – Intersection of Rowlett Rd & Hwy 66 with Traffic Counts of 60,000± VPD
  • Solid Demographics – Total Population of 73,988 within 3-miles with an Avg Household Income of $130,931

OVERVIEW

Solid Investments is pleased to offer for sale the opportunity to acquire a well-established, single tenant absolute NNN Walgreens drugstore with drive-thru pharmacy, located in Rowlett (Dallas), TX. There are zero Landlord responsibilities. Walgreens has successfully occupied this location for over 21 years and there are 4± years remaining on the base term. The lease includes preferred renewal options of 10 x 5 year terms, and is corporately guaranteed by Walgreen Co - one of the largest drugstore chains in the US. Excellent Assumable Debt - 25 year term, 25 year amortization, Fixed at 5.99% — callable any time after 10 years (after July 31, 2033). Current loan balance of $3,050,000 (contact broker for details) This Walgreens is situated on 1.68± acres at the very busy, signalized corner of Lakeview Pkwy/Hwy 66 & Rowlett Rd, with almost 60,000± VPD. It benefits from nearby access to the President George Bush Turnpike, which sees 26,000± VPD. The site is in a high-traffic retail corridor with national tenants like Sprouts, Walmart, Home Depot, Target, and more, driving consumer traffic. Proximity to Rowlett High School and Coyle Middle School adds to local foot traffic. The 5-mile area serves a robust local population, with over 224,000 residents, and an affluent average household income of $130,931 within a 3-mile radius.

FOR SALE DETAILS

PRICE

$4,767,000 USD

PRICE/SF

$386 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1.68 AC

LAND SF

73,181 SF

ZONING

Z92

APN/PARCEL ID

440083000A0040000

ASK ABOUT THIS PROPERTY

Derrick SchroederSolid InvestmentsMore Info
954-296-6955

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Derrick SchroederSolid InvestmentsMore Info
954-296-6955

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