Current Use by Public Records
- Retail properties & Spaces
Property Details for 510 Alamo Rd
- Year built
- 2009
- Lot size
- 1.39 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 14,336 square foot Walgreens conveniently located at 510 N Alamo Rd, Alamo, TX 78516. Boasting a 100% occupancy rate with a corporate guarantee from Walgreens (NASDAQ: WBA), this single-tenant NNN lease offers significant long-term stability. The property features a 14-year remaining lease term with built-in rent increases, ensuring consistent cash flow. The property sits on a 1.39-acre lot and was constructed in 2009. With a Net Operating Income (NOI) of $298,275 and an attractive 5.85% cap rate, this asset represents a compelling addition to any portfolio. The property benefits from a prime location on a signalized corner with high visibility and traffic counts (22,468 vehicles per day directly accessible and visible to 90,943 VPD from I-2). The surrounding area features a robust retail environment with national brands such as HEB, Walmart, and Whataburger, further enhancing the property's value. Strong demographics, including a dense population of 170,025 within a 5-mile radius and proximity to a major travel corridor (McAllen and Brownsville MSA attracting over 16 million visitors annually), contribute to the property's exceptional potential. This is a tax-free state investment. The asking price is $5,100,000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Alamo
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.1216
- Latitude
- 26.1891
