Absolute NNN Walgreens at
11970 Spring Cypress Rd Tomball, TX 77377
11970 Spring Cypress Rd, Tomball, TX, 77377
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For Sale
Contact for pricing
Absolute NNN Walgreens on a signalized hard corner with long-term tenant lease extending 10 years from 2022.
Property Size13,650 SF
Price / SF$361.07
Days on Market113
Property Features for 11970 Spring Cypress Rd
General Information
- Standard status
- Active
- Size
- 13,650 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2003
Listing Agency
Pharma Property Group
(619) 297-0055
Listed by
Jason Pongsrikul · License #CA 01918332
Source
Crexi
Added: Mar 31 Updated: Jul 20 at 6:29 pm Checked: Jul 20 at 6:29 pm
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
Investment Insights
Based on property information with market context.
This absolute NNN Walgreens property is offered for sale at 11970 Spring Cypress Rd, Tomball, TX 77377. Walgreens has operated at the location for 23 years, and in 2022 the tenant extended its lease for an additional 10 years, supporting long-term occupancy. The property is described as an absolute NNN lease with zero landlord obligations whatsoever. The building size is 13,650 square feet, and Walgreens is currently paying $25.27 per square foot.
The site is positioned on the signalized hard corner of Spring Cypress Rd and N Eldridge Pkwy and is reported to be visible to a combined 47,000 VPD. The property is also located less than a mile from the ingress/egress for Tomball Parkway (TX-249), with over 101,000 VPD.
The offering is presented as part of a dense retail corridor with continued local development, and the surrounding retail area is described as having retail vacancy below 4% within a 2-mile radius.
The site is positioned on the signalized hard corner of Spring Cypress Rd and N Eldridge Pkwy and is reported to be visible to a combined 47,000 VPD. The property is also located less than a mile from the ingress/egress for Tomball Parkway (TX-249), with over 101,000 VPD.
The offering is presented as part of a dense retail corridor with continued local development, and the surrounding retail area is described as having retail vacancy below 4% within a 2-mile radius.
Key Highlights
- Walgreens property built in 2003 at 11970 Spring Cypress Rd, Tomball, TX 77377
- Absolute NNN lease with zero landlord obligations
- Tenant has operated at the location for 23 years; lease was extended in 2022 for an additional 10 years
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $280.1k | $20.52 |
| − Vacancy | −$16.0k | −$1.17 |
| EGI | $264.1k | $19.35 |
| − OpEx | −$66.0k | −$4.84 |
| NOI | $198.1k | $14.51 |
13,650 SF · lease $20.52/SF/yr · vacancy 5.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.83M
$2.48M – $3.30M
NOI $198,099 @ 7.0% cap · market cap 4.02%
Second Best
Retail
$2.32M
$2.03M – $2.70M
NOI $162,187 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$3.73M
$3.26M – $4.35M
NOI $260,901 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
Walgreens
Pharmacy
Walgreens Pharmacy
Pharmacy
COVID-19 Drive-Thru Testing ...
Pharmacy
Walgreens Healthcare Clinic
Medical Clinic
Similar For Sale Nearby
Similar Off Market Nearby
- Walgreens Pharmacy — 11970 Spring Cypress Rd, Tomball, TX 77377
- COVID-19 Drive-Thru Testing at Walgreens — 11970 Spring Cypress Rd, Tomball, TX 77377
- Superfast Pharmacy And Medical Supplies,Llc — 11690 Spring Cypress Rd, Tomball, TX 77377
- Gary Oleson — 11970 Spring Cypress Rd, Tomball, TX 773778086
- Emily Schopf — 11970 Spring Cypress Rd, Tomball, TX 773778086
FAQs
What type of property is this?
Drug store - Absolute NNN Walgreens on a signalized hard corner with long-term tenant lease extending 10 years from 2022.
Where is this drug store located?
The property is located at 11970 Spring Cypress Rd Tomball, TX.
What is the asking price?
The asking price for this property is $4,928,571.
What are key features of this property?
This property features: Walgreens property built in 2003 at 11970 Spring Cypress Rd, Tomball, TX 77377; Absolute NNN lease with zero landlord obligations; Tenant has operated at the location for 23 years; lease was extended in 2022 for an additional 10 years
