2717 Farm To Market 1960 Rd Houston, TX 77073
- Retail properties
- 14,611 SF
Current Use by Public Records
- Retail properties
Property Details for 2717 Farm To Market 1960 Rd
- Property size
- 14,611 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a net-leased Walgreens pharmacy located at 2717 Farm to Market 1960 Rd E, Houston, TX 77073. The property boasts 14,611 square feet and is situated on a hard corner with high visibility, experiencing over 22,357 vehicles per day. The lease, with a corporate guarantee from Walgreens (NASDAQ:WBA), has a remaining term of 5.3 years and includes ten, 5-year renewal options, extending to February 27, 2030. The property's strong financial performance is reflected in a net operating income (NOI) of $299,500, resulting in a 6.75% cap rate. The asking price is $4,437,037, translating to $303.68 per square foot. This prime retail location benefits from its proximity to major thoroughfares, including less than one mile from the Hardy Toll Road, and is surrounded by a variety of complementary businesses such as Circle K, T-Mobile, Dollar Tree, Starbucks, Papa Johns Pizza, McDonald's, KFC, and Popeyes. The seller is offering attractive financing options, including 50% LTV financing. This investment offers a compelling combination of strong tenant credit, long-term lease stability, and a desirable location within a densely populated area of Houston, Texas. The property's reported sales totaled $2,791,529. This is a rare opportunity to acquire a well-established, high-performing Walgreens in a thriving commercial corridor.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Houston
- County
- Harris
- State
- Texas
- Longitude
- -95.3863
- Latitude
- 30.0222
