2710 Nogalitos St San Antonio, TX 78225
- Retail properties
- 14,218 SF
- 149.00 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2710 Nogalitos St
- Year built
- 1993
- Lot size
- 149.00 lot acres
- Property size
- 14,218 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a fee-simple ownership of a 14,218 square foot Walgreens pharmacy in San Antonio, Texas. The property boasts a brand-new 15-year absolute NNN lease with a corporate guarantee from Walgreens (NASDAQ: WBA), commencing November 21, 2023, and expiring November 30, 2038. The lease includes twelve 5-year renewal options, ensuring long-term stability. Rent increases of 5% every five years provide inflation protection and consistent NOI growth. The property, built in 1993 and renovated in 2010, sits on a 1.49-acre lot with 63 parking spaces and is zoned Commercial (C-3R). Located at the hard corner of Nogalitos Street and West Theo Avenue, it benefits from high traffic counts (32,500 vehicles daily) and proximity to major interstates I-35, I-10, and I-37. The strong demographics of the 5-mile trade area, encompassing over 310,000 residents and 171,000 employees, with an average household income of $58,735, further enhance the investment's appeal. The asking price is $4,600,000, representing a 6.00% cap rate and a price per square foot of $323.53. The current NOI is $275,968, with 100% occupancy. This is a truly passive investment opportunity with zero landlord responsibilities. The property's APN is 03460-017-1230.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- San Antonio
- County
- Bexar
- State
- Texas
- Longitude
- -98.5217
- Latitude
- 29.3883
