Walgreens Pharmacy with
32320 State Highway 249, Pinehurst, TX 77362
For Sale
Contact for pricing
An absolute NNN lease assigns no landlord responsibilities during the lease term or option periods.
Property Size14,820 SF
Lot Size2.20 Acres
Price / SF$377.53
Days on Market28
Property Features for 32320 State Highway 249
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Corner Location
Drive-Thru
Highway Access
Road Access
Tenancy & Operations
Currently Operating
Tenant in Place
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Sd Realty Partners
Listed By:
Ron Jacobson · License TX #00935054
Source:
Crexi
Added: Oct 13
Changed: Nov 8
Last Checked: Nov 8 at 5:34PM
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 Sd Realty Partners
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Walgreens pharmacy occupies a 14,820-square-foot building on approximately 2.2 acres. Constructed in 2006, the property is offered as a fee-simple interest and carries a full guaranty from Walgreen Co. Its absolute NNN lease provides for no landlord responsibilities during the term or option periods. The 25-year base term expires September 30, 2031, with approximately five years remaining as of October 2026.
The site is at the signalized intersection of State Highway 249 and Hardin Store Road. Direct access to the drive-through is available from State Highway 249. Pinehurst is part of the Houston metropolitan area and is approximately 35 miles northwest of Houston.
The site is at the signalized intersection of State Highway 249 and Hardin Store Road. Direct access to the drive-through is available from State Highway 249. Pinehurst is part of the Houston metropolitan area and is approximately 35 miles northwest of Houston.
Key Highlights
- 14,820‑square‑foot pharmacy building on approximately 2.2 acres
- Built in 2006; offered as a fee‑simple interest
- Full guaranty from Walgreen Co.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$261,894
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,237,880
$5.2M
Cap Rate 7%
$3,741,343
$3.7M
Cap Rate 9%
$2,909,933
$2.9M
Market Conditions
NOI Build-Up for 14,820 SF
Gross rent
$369.9K $24.96/SF
− Vacancy
−$20.7K −$1.40/SF
EGI
$349.2K $23.56/SF
− OpEx
−$87.3K −$5.89/SF
NOI
$261.9K $17.67/SF
Area
Montgomery County, TX
Vacancy
5.60%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,237,880
Cap Rate 7%
$3,741,343
Cap Rate 9%
$2,909,933
Alternative Uses
Best Use
Specialty Retail
$3.74M
$3.27M – $4.36M
NOI $261,894 @ 7.0% cap · market cap 4.68%
Second Best
Retail
$2.87M
$2.51M – $3.35M
NOI $200,954 @ 7.0% cap · market cap 3.59%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
80k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Shops & Services 35%
McDonald's
Dining
27,226 visits/mo
0.1 miles
Chevron
Shops & Services
14,364 visits/mo
0.2 miles
SONIC Drive In
Dining
12,407 visits/mo
0.1 miles
Exxon
Shops & Services
9,588 visits/mo
0.0 miles
Popeyes Louisiana Kitchen
Dining
7,550 visits/mo
0.1 miles
Demographics for 77362, TX
7,007
Population
2,664
Households
2.6
Avg Household Size
38
Median Age
33%
College-Educated
93%
High-School Grad
10.7 sq mi
ZIP Area
655
Density / Sq Mi
$80,982
Median Household Income
$44,457
Median Earnings
$1,058
Median Rent
$271,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Angie's Gardens - Curbside Only! — 32064 S Wiggins St, Magnolia, TX 77355
- Walgreens Pharmacy — 32320 TX-249, Pinehurst, TX 77362
- Kalyani Potluri — 32320 TX-249, Pinehurst, TX 773623892
- COVID-19 Drive-Thru Testing at Walgreens — 32320 TX-249, Pinehurst, TX 77362
- Jaffar M. Syed, PharmD — Pinehurst, TX 77362
Frequently Asked Questions
What type of property is this?
Drug store - An absolute NNN lease assigns no landlord responsibilities during the lease term or option periods.
Where is this drug store located?
The property is located at 32320 State Highway 249 Pinehurst, TX.
What is the asking price?
The asking price for this property is $5,595,000.
What are key features of this property?
This property features: 14,820‑square‑foot pharmacy building on approximately 2.2 acres; Built in 2006; offered as a fee‑simple interest; Full guaranty from Walgreen Co.
