Matthews Logo

Navigation Menu

20675 FM 1093 Rd, Richmond, TX, 77407

WALGREENS
yes

Photos

Highlights

INVESTMENT HIGHLIGHTS

  • Strategic Positioning – Situated on a hard signalized corner of S Mason Rd which sees 12,000 VPD and the entrance to the Westpark Tollway which sees over 40,000 VPD.
  • Healthy Population Statistics– The surrounding 5 mile radius has over 249,215 people.
  • Positive Population Growth – The population has grown over 5% in the past 5 years and shows no sign of slowing down.
  • Sizeable Plot – The building is situated on a ±2.91 AC lot giving future possibilities for development.
  • Long Term Lease – Walgreens has a lengthy 12 years left on the base term of the lease giving an investor a over a decade of tenant stability.
  • Strong Guarantee – Backed by Walgreens corporate which has over 8000 stores over the United States and has a market cap of 40B (NASDAQ: WBA)
  • New Village Medical – The tenant has recently added a Village Medical, which is an in store clinic that offers full service primary care to its customers. Walgreens has paid for all renovations, and additions to add the clinic.
  • Absolute NNN Structure – Under this (NNN) lease arrangement, the tenant assumes full responsibility responsible for CAM, Insurance, Utilities Taxes and Structure. This allows for completely passive ownership.
  • Tax Shield – Subject property is located in Texas, which offers no state tax. Additionally this investment is offered fee simple which can be used for bonus depreciation (Speak to a licensed accountant.)

    Josh Longoria & Simon Assaf (In conjunction with Matthews Real Estate Investment Services, Inc., a cooperating foreign broker for this listing pursuant to Section 535.4(b) of the Texas Administrative Code)

Location

Agents

Broker of Record

Kyle Matthews

License # License No. 9005919 (TX)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203

Key Information

Cap Rate
6%
Term Remaining
±12.75
Type
Retail
NOI
$382,984