Freestanding Drug
For Sale
Contact for pricing
11403 East Northwest Highway, Dallas, TX 75218
Walgreens occupies the property under an absolute NNN lease with multiple extension options and no landlord obligations.
Property Size14,418 SF
Price / SF$305.17
Days on Market72
Property Features for 11403 East Northwest Highway
General Information
Standard status
Active
Size
14,418 SF
Property subtype
Retail
Lease Type
Absolute Net
Net Operating Income
$330,000
Additional Details
Traffic Count
35,000 vehicles/day
Building Details
Year Built
2002
Tenancy
Single
Listing Agency:
Pharma Property Group
Listed By:
Jason Pongsrikul · License #CA 01918332
(619) 297-0055
Source:
Crexi
Added: Aug 6
Changed: Oct 15
Last Checked: Oct 16 at 6:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pharma Property Group
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Investment Insights
Based on property information with market context.
The 14,418-square-foot drug store was built in 2002 and is occupied by Walgreens. The tenancy is structured as an absolute NNN lease, with no landlord obligations identified in the property information. Walgreens has operated at the site for 24 years, and the lease includes 9 five-year extension options. An option was exercised early in 2021, extending the firm term to the next cancellation option in 2032.
The property fronts East Northwest Highway, which carries 35,000 vehicles per day, and is less than a mile from I-635, where traffic reaches 165,000 vehicles per day. Downtown Dallas is less than 8 miles away. More than 116,000 residents live within a 3-mile radius, while surrounding households average over $108,000 in annual income. The site is also within 3 miles of more than 36 million square feet of industrial space, including Miller Business Park and the Shiloh Industrial Area.
The property fronts East Northwest Highway, which carries 35,000 vehicles per day, and is less than a mile from I-635, where traffic reaches 165,000 vehicles per day. Downtown Dallas is less than 8 miles away. More than 116,000 residents live within a 3-mile radius, while surrounding households average over $108,000 in annual income. The site is also within 3 miles of more than 36 million square feet of industrial space, including Miller Business Park and the Shiloh Industrial Area.
Key Highlights
- 14,418‑square‑foot drug store built in 2002
- Walgreens has operated at the property for 24 years
- Absolute NNN lease with zero landlord obligations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$248,302
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,966,040
$5.0M
Cap Rate 7%
$3,547,171
$3.5M
Cap Rate 9%
$2,758,911
$2.8M
Market Conditions
NOI Build-Up for 14,418 SF
Gross rent
$347.8K $24.12/SF
− Vacancy
−$16.7K −$1.16/SF
EGI
$331.1K $22.96/SF
− OpEx
−$82.8K −$5.74/SF
NOI
$248.3K $17.22/SF
Area
Dallas, TX
Vacancy
4.80%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,966,040
Cap Rate 7%
$3,547,171
Cap Rate 9%
$2,758,911
Alternative Uses
Best Use
Specialty Retail
$3.55M
$3.10M – $4.14M
NOI $248,302 @ 7.0% cap · market cap 5.64%
Second Best
Retail
$3.31M
$2.90M – $3.87M
NOI $231,992 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$17.30M
$15.14M – $20.18M
NOI $1,211,029 @ 7.0% cap · market cap 27.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
35,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
280k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 36%
Dining 33%
Shops & Services 19%
Home Improvements & Furnishings 9%
Sam's Club
Superstores
100,191 visits/mo
0.4 miles
Chick-fil-A
Dining
32,960 visits/mo
0.2 miles
Lowe's
Home Improvements & Furnishings
26,248 visits/mo
0.2 miles
Sam's Club Gas Station
Shops & Services
18,836 visits/mo
0.3 miles
Whataburger
Dining
16,280 visits/mo
0.2 miles
Demographics for 75218, TX
23,136
Population
10,443
Households
2.2
Avg Household Size
41
Median Age
61%
College-Educated
92%
High-School Grad
6.9 sq mi
ZIP Area
3,353
Density / Sq Mi
$109,677
Median Household Income
$66,216
Median Earnings
$1,651
Median Rent
$476,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Drug store - Walgreens occupies the property under an absolute NNN lease with multiple extension options and no landlord obligations.
Where is this drug store located?
The property is located at 11403 East Northwest Highway Dallas, TX.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 14,418‑square‑foot drug store built in 2002; Walgreens has operated at the property for 24 years; Absolute NNN lease with zero landlord obligations
