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Property profile & analytics
OFF-MARKET
Estimated value
$2,710,000
Drug stores
1515 Alexander Dr Baytown, TX 77520-5321
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US82-6112683
Property summary
AI-generated overview
This exceptional investment opportunity presents a 14,550 square foot Walgreens, built in 2014, situated on a 1.61-acre lot at 1515 N Alexander Dr, Baytown, TX 77520. The property features a drive-thru and benefits from a 20-year net lease (NNN) with approximately 8.2 years remaining, plus 50 one-year renewal options. The lease commenced February 1, 2013, and expires February 1, 2033, providing long-term stability. The property boasts a 7.64% cap rate and a strong NOI of $351,500, with rent bumps included. Located at a signalized intersection in the heart of Baytown, within the Houston MSA, this Walgreens enjoys high visibility and benefits from a dense retail environment. Nearby national tenants include CVS, Chase Bank, Kroger, and many more. The asking price is $4,600,000, translating to $316.15 per square foot. This is a credit-rated, single-tenant property offering minimal landlord responsibilities and significant long-term income potential. The property is 100% occupied.
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2013
Construction
STEEL & CONCRETE
Total area
16,007 SF
Lot
1.61 ac (69,936 SF)
APN
1335030010001
UPID
US82-6112683
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy Pharmacy
-
Walgreens Pharmacy
-
MGA Crisis Intervention Medical Clinic
-
Dr. Denis Feldman, PHD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.93M
Comparable Approach
Comparable
$2.50M
Blend (final)
Blend
$2.71M
Owner & transaction history
Ds Houston Tx Landlord LLC · 6 yrs held
Ds Houston Tx Landlord LLC
since 2020
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.7M
+57.3%
Industrial (general)
$2.0M
+16.3%
Auto repair, garage
$1.7M
+0.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Baytown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Baytown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,170,000
6.5%
$2,925,000
7%
$2,715,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,685,000
Current use
COMMERCIAL (GENERAL)
$2,650,000
Change: +57% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,960,000
Change: +16% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,685,000
Change: +0% · Conversion: Difficult
RESTAURANT
$1,670,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$2.71M
Range $2.44M – $2.98M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$169 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$11,470
Tax year 2022
Assessed value
$2,243,797
Assessed 2024
Previous assessed
$2,143,590
+4.7% YoY
Effective rate
0.51%
On assessed value
Assessed land
$524,520
Assessed improvement
$1,719,277
Land market value
$524,520
Improvement market value
$1,719,277
Total market value
$2,243,797
Applied tax rate
16.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2013
Construction
STEEL & CONCRETE
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
1
Total area
16,007 SF
Lot
1.61 ac (69,936 SF)
APN
1335030010001
UPID
US82-6112683
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$2.7M
INDUSTRIAL (GENERAL)
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.7M
RESTAURANT
Est. value
$1.7M
RETAIL STORES Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2013
Construction
STEEL & CONCRETE
Heating
FORCED AIR
Cooling
Yes
Buildings
1
Lot
1.61 ac
Current owner
From public records · entity-resolved
Ds Houston Tx Landlord LLC
Entity
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2026
—
Stellar Vista Ventures LLC
—
Deed
related
$1,815,375 · Capital Bank
May 4, 2020
—
Ds Houston Tx Landlord LLC
Walgreen Co
Grant Deed
related
—
Apr 4, 2014
—
Labelle Baytown LLC
Mt 146 Dev LLC
Grant Deed
$4,000,000 · William P Labelle
—
—
Labelle Baytown LLC
—
Deed Of Trust
related
$4,000,000 · Everbank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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