Drug Store Ground
1801 Texas Ave La Marque, TX 77568
1801 Texas Ave, La Marque, TX, 77568
Contact for pricing
For Sale
Contact for pricing
Walgreens has operated at the site for 25 years with 4.5 years of firm term remaining under its lease.
Property Size15,025 SF
Price / SF$174.71
Days on Market129
Property Features for 1801 Texas Ave
General Information
- Standard status
- Active
- Size
- 15,025 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2000
Listing agency
Pharma Property Group
(619) 297-0055
Listed by
Jason Pongsrikul · License #CA 01918332
Source
Crexi
Added: Mar 17 Updated: Jul 22 at 1:23PM Checked: Jul 22 at 1:23PM
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 Walgreens property for sale is currently operating as a drug store, with Walgreens at the site for 25 years. The lease includes 4.5 years of firm term remaining before the 6 (5-year) option periods. The lease rent is described as under market levels, with Walgreens paying $13.89 per square foot, and the operator has a history of renewals and lease restructuring at the location, including in 2019 and 2025.
The property is located in La Marque within the Houston MSA, approximately 40 miles south of Downtown Houston. HCA Houston Healthcare Mainland is 1.5 miles away and is described as a 222-bed acute care facility with a Level III Trauma Center, supporting consistent pharmacy-related demand. The area is also described as an industrial corridor with nearby industrial space anchored by INEOS Styrolution.
The offering is presented as a Walgreens long-term operating lease situation, with documented renewal activity and remaining firm term before the stated option periods.
The property is located in La Marque within the Houston MSA, approximately 40 miles south of Downtown Houston. HCA Houston Healthcare Mainland is 1.5 miles away and is described as a 222-bed acute care facility with a Level III Trauma Center, supporting consistent pharmacy-related demand. The area is also described as an industrial corridor with nearby industrial space anchored by INEOS Styrolution.
The offering is presented as a Walgreens long-term operating lease situation, with documented renewal activity and remaining firm term before the stated option periods.
Key Highlights
- Walgreens property at 1801 Texas Ave, La Marque, TX 77568
- Walgreens has operated at the site for 25 years; 4.5 years of firm term remaining before six (5‑year) option periods
- Lease rent is at $13.89 per SF and described as under market rent levels
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 | $308.3k | $20.52 |
| − Vacancy | −$17.6k | −$1.17 |
| EGI | $290.7k | $19.35 |
| − OpEx | −$72.7k | −$4.84 |
| NOI | $218.1k | $14.51 |
15,025 SF · lease $20.52/SF/yr · vacancy 5.70% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.12M
$2.73M – $3.63M
NOI $218,054 @ 7.0% cap · market cap 8.31%
Second Best
Retail
$2.89M
$2.53M – $3.37M
NOI $202,327 @ 7.0% cap · market cap 7.71%
Theoretical Best
Multifamily LT 5
$168.45M
$147.40M – $196.53M
NOI $11,791,674 @ 7.0% cap · market cap 449.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Cassandra Arceneaux Bradberry, ...
Pediatrician
Walgreens Printing Center
(Bike/Boat/Book/etc) Store
Dr. Cassandra Arceneaux
Pediatrician
Brittaney Shaw
Physician
Village Medical at Walgreens
Medical Clinic
Similar For Sale Nearby
Similar Off Market Nearby
- Walgreens Pharmacy — 1801 Texas Ave, La Marque, TX 77568
- Fullers Pharmacy — La Marque, TX 77568
- Marie King-Bonner — 202 State Hwy 3, La Marque, TX 775685928
FAQs
What type of property is this?
Drug store - Walgreens has operated at the site for 25 years with 4.5 years of firm term remaining under its lease.
Where is this drug store located?
The property is located at 1801 Texas Ave La Marque, TX.
What is the asking price?
The asking price for this property is $2,625,000.
What are key features of this property?
This property features: Walgreens property at 1801 Texas Ave, La Marque, TX 77568; Walgreens has operated at the site for 25 years; 4.5 years of firm term remaining before six (5‑year) option periods; Lease rent is at $13.89 per SF and described as under market rent levels
