5297 State Highway 121 - Drug Store FOR SALE
The Colony, TX 75056 |
$5,678,400 USD
404-504-7900
5297 State Highway 121
The Colony, TX 75056
HIGHLIGHTS
- Walgreens’ NNN lease recently commenced in November 2023 and features ±13.6 years of term remaining.
- 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.
- 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).
- Adjacent to 5 hospitality properties totaling over 750 rooms.
- 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.
- Within 2 miles of the 433-acre Grandscape retail and entertainment development.
OVERVIEW
CBRE is pleased to offer for sale the 13,650-square-foot Walgreens situated on 1.80 acres in The Colony, TX - a component of the Dallas-Fort Worth-Arlington, TX MSA (Population: 8.0M). Walgreens’ NNN lease recently commenced in November 2023 and features ±13.6 years of term remaining with 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.
FOR SALE DETAILS
PRICE
$5,678,400 USD
PRICE/SF
$416 USD /SF
CAP RATE
6.25%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Walgreens: The Colony, TX
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2002
SPRINKLERS
-
PARKING SPACES
75
LAND DETAILS
LAND ACRES
1.8 AC
LAND SF
78,491 SF
ZONING
-
APN/PARCEL ID
R194868
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404-504-7900
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404-504-7900
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