Silsbee Walgreens NNN Investment
496 Highway 96 S Silsbee, TX 77656
For Sale
Contact for pricing
Freestanding Walgreens with drive-thru on 1.71 acres.
Property Size14,550 SF
Lot Size1.71 Acres
Price / SF$371.93
Days on Market810
Property Features for 496 Highway 96 S
General Information
- Standard status
- Active
- Size
- 14,550 SF
- Lot size
- 1.71 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2010
Listing Agency:
SURMOUNT
(786) 522-7017
Listed By:
Gabriel Britti · License #FL SL3211804
Source:
Crexi
Added: May 6, 2024
Changed: Jul 6
Last Checked: Jul 24 at 3:49PM
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 SURMOUNT
Investment Insights
Based on property information with market context.
This property is an Absolute Net Leased Walgreens located at 496 Highway 96 S in Silsbee, Texas, north of Beaumont. The property features a 14,550 square foot free-standing building with a drive-thru, situated on a 1.71-acre parcel of land. The building benefits from high visibility at the signalized intersection of 5th Street and W/E Avenue North, with traffic counts exceeding 25,460 vehicles per day. The location along a major thoroughfare provides proximity to Highway 96, which sees more than 16,925 vehicles per day, as well as Silsbee’s Elementary and High School. The surrounding area includes McDonald’s, Taco Bell, Subway, Jack in the Box, Exxon, KFC, Whataburger, Sonic, AutoZone, and Walmart, among other national and regional tenants. Walgreens originally signed a 25-year Absolute NNN lease in 2010 and has over 10 years of the initial term remaining, with ten 5-year options to renew. Walgreens operates the second-largest pharmacy store chain in the United States, with over 8,200 locations across the U.S, District of Colombia, Puerto Rico, and Guam. The company specializes in filling prescriptions, health and wellness products, and other services, and also operates worksite health centers, home care facilities, and specialty and mail service pharmacies.
Key Highlights
- Absolute NNN lease with over 10 years remaining and ten 5‑year options.
- Located on a hard signalized intersection with high visibility and traffic counts exceeding 25,460 per day.
- Walgreens is a publicly traded company and the second‑largest pharmacy chain in the US.
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 | $270.6k | $18.60 |
| − Vacancy | −$20.3k | −$1.40 |
| EGI | $250.3k | $17.21 |
| − OpEx | −$62.6k | −$4.30 |
| NOI | $187.7k | $12.90 |
14,550 SF · lease $18.60/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,750 @ 7.0% cap · market cap 3.47%
Second Best
Retail
$2.32M
$2.03M – $2.70M
NOI $162,155 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,529 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
Walgreens
Pharmacy
Walgreens Pharmacy
Pharmacy
Cardtronics ATM
Atm
FedEx OnSite
Postal Service
Similar Off Market Nearby
- CVS — 685 Hwy 96 S, Silsbee, TX 77656
- CVS Pharmacy — 685 Hwy 96 S, Silsbee, TX 77656
- Walgreens Pharmacy — 496 Hwy 96 S, Silsbee, TX 77656
- Brookshire Brothers Pharmacy — 333 S 5th St, Silsbee, TX 77656
- COVID-19 Drive-Thru Testing at Walgreens — 496 U.S. 96 S, Silsbee, TX 77656
FAQs
What type of property is this?
Drug store - Freestanding Walgreens with drive-thru on 1.71 acres.
Where is this drug store located?
The property is located at 496 Highway 96 S Silsbee, TX.
What is the asking price?
The asking price for this property is $5,411,536.
What are key features of this property?
This property features: Absolute NNN lease with over 10 years remaining and ten 5‑year options.; Located on a hard signalized intersection with high visibility and traffic counts exceeding 25,460 per day.; Walgreens is a publicly traded company and the second‑largest pharmacy chain in the US.
