701 W Houston St - Drug Store FOR SALE


Broken Arrow, OK 74012
$2,127,163 USD
786-522-7013
701 W Houston St, Broken Arrow, OK for Sale
$2,127,163 USD
Drug Store - FOR SALE
1/3
null | 8% Cap Rate

701 W Houston St
Broken Arrow, OK 74012


HIGHLIGHTS

  • Walgreens Corporate Guarantee (NYSE: WBA)
  • Less than 15 Miles from Downtown Tulsa
  • Recently Negotiated Early Lease Extension Demonstrating Strong Site Commitment
  • Hard Signalized Corner with Great Visibility | Visible to over 25,300 Vehicles/Day
  • Outparcel to Service Oriented Center | Retailers include Restaurants, Nail and Hair Salons, Fitness, and numerous others
  • Low Rent | Strong Unit Level Economics

OVERVIEW

Marcus & Millichap is pleased to present for sale this Net Leased Walgreens located at 701 W Houston Street in Broken Arrow, Oklahoma, just a quick 20-minute drive from Downtown Tulsa. The subject property consists of a 12,934 SF free-standing building with a drive-thru and is situated on a large 1.14-acre parcel of land. Strategically located on the hard signalized intersection of W Houston Street and S Elm Place the property benefits from great visibility to more than 25,300 vehicles per day. The Walgreens sits as an outparcel to the “Central Park” Shopping Center which is home to numerous service-oriented retailers such as restaurants, hair and nail salons, a fitness center, and several others. The property also benefits from a very low rent thus creating favorable and sustainable unit level economics for the site. The city of Broken Arrow is the largest suburb of Tulsa with a population of 113,540 residents and the 4th most populous city in the state. Its economy is very diverse and has the third-largest concentration of manufacturers in the state. Notable employers in Broken Arrow include FlightSafety International, FedEx Ground, Blue Bell Creameries and Windstream Communications. The area is also encompassed by several colleges and universities including Tulsa Community College with 14,428 enrolled students, Tulsa Tech with 1,000 enrolled students, and Northeastern State University with 3,500 enrolled students. The immediate trade area is also home to O’Reilly Auto Parts, AutoZone, Big Lots, Walmart Neighborhood Market, Aldi, and numerous other National and Regional Tenants. Walgreen’s initial term runs through October 31, 2028, however, given their commitment to the site have agreed to an early extension which will be executed upon close of escrow. Walgreens (www.walgreens.com) is included in the U.S. Retail Pharmacy and U.S. Healthcare segments of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), an integrated healthcare, pharmacy and retail leader with a 170-year heritage of caring for communities. WBA’s purpose is to create more joyful lives through better health. Operating nearly 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving nearly 10 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services, including those that drive equitable access to care for the nation’s underserved populations. To best meet the needs of customers and patients, Walgreens offers a true omnichannel experience, with fully integrated physical and digital platforms supported by the latest technology to deliver high-quality products and services in communities nationwide.

FOR SALE DETAILS

PRICE

$2,127,163 USD

PRICE/SF

$164 USD /SF

CAP RATE

8%

% 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

1993

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.14 AC

LAND SF

49,658 SF

ZONING

CG

APN/PARCEL ID

78725-84-15-65674

ASK ABOUT THIS PROPERTY

Ronnie IssenbergMarcus & MillichapMore Info
786-522-7013

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Ronnie IssenbergMarcus & MillichapMore Info
786-522-7013

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