1211 Hwy Marble Falls, TX 78654
- Retail properties
- 14,820 SF
- 2.23 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1211 Hwy
- Year built
- 2005
- Lot size
- 2.23 lot acres
- Property size
- 14,820 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a fee-simple, Class A, 14,820 square-foot Walgreens located at 1211 N U.S. Hwy 281, Marble Falls, TX 78654 (Burnet County), within the Austin MSA. The property boasts a strong 7.33% cap rate and a substantial net operating income (NOI) of $350,000. Built in 2005 on a 2.23-acre lot, this single-tenant, absolute NNN leased property features a drive-thru and benefits from a corporate guarantee. The lease, originally signed September 1, 2005, has a remaining term of 5.8 years with ten (10) five-year options, providing long-term stability. The asking price is $4,775,000, translating to $322.20 per square foot. The property enjoys a prime corner location with high visibility and traffic counts exceeding 31,500 vehicles daily on Highway 281. This is a 100% occupied asset offering significant tax advantages due to its location in a tax-free income state. The property is ideal for a 1031 exchange. Zero landlord responsibilities are required.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marble Falls
- County
- Burnet
- State
- Texas
- Longitude
- -98.273
- Latitude
- 30.5818
