5297 State Hwy 121 The Colony, TX 75056-2614

This exceptional investment opportunity presents a 13,650-square-foot Walgreens located in The Colony, Texas, within the high-growth Dallas-Fort Worth metroplex. The property sits on a 1.8-acre lot with 75 parking spaces and boasts a prominent location at the signalized intersection of Paige Road and State Highway 121, benefiting from high traffic volume. The Walgreens operates under a triple-net (NNN) lease with a credit-rated tenant, providing a secure and predictable income stream. The lease commenced in November 2023 and has approximately 14 years remaining, with built-in 5% rent increases every five years and twelve 5-year renewal options. The property's strong financial performance is reflected in its 5.85% cap rate and a substantial net operating income (NOI) of $354,900. Built in 2002, this single-tenant property benefits from its proximity to major roadways, including the Sam Rayburn Tollway, and is surrounded by a thriving commercial area, including numerous hotels, restaurants, and retail establishments, such as Home Depot and Wendy's. The property is also conveniently located near the expansive Grandscape retail and entertainment development. This presents a compelling investment opportunity with significant long-term growth potential within a dynamic and rapidly expanding market. The asking price is $6,066,667, translating to $444.44 per square foot. The property's location within the Dallas-Fort Worth MSA, a major economic hub with a large and educated workforce, further enhances its investment appeal.