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New Walgreens - Plano, Texas

6324 Custer Road, Plano, TX 75023

$8,495,238

14,550 SF | Retail

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Retail Property For Sale - In Contract Get Financing

Price:
$8,495,238
Building Size:
14,550 SF
Price/SF:
$583.87
Property Type:
Retail
Property Sub-type:
Free Standing Bldg
Additional Sub-types:
Community Center
Neighborhood Center
Power Center
Property Use Type:
Net Lease Investment with
10+ years left on lease
Construction Status:
Under Construction/
Proposed
Commission Split:
1%
Cap Rate:
5.25%
No. Stories:
1
Tenancy:
Single
Year Built:
2014
Lot Size:
1.38 SF
Listing ID
18423767
Last Updated
55 days ago

Find Out More...

Highlights

  • New 20 Year Base Lease with 5 Year Options
  • 100% Fee Simple
  • Absolute NNN
  • 140,000 Population in 3 Miles
  • To Be Delivered March 2014

Description

The Woodmont Company is pleased to offer the opportunity to acquire a new Walgreens Pharmacy projected to be delivered to Walgreens on June 1st 2014. This under-construction Walgreens is the new prototype building design with a seventy-five year lease containing twenty years of base term and eleven five year renewal options. The lease is absolute NNN and 100% guaranteed by The Walgreen Company.

The property is strategically located in the northern portion of the Dallas/Fort Worth Metroplex and is within the City of Plano, Texas. Plano is the ninth most populous city in the State of Texas and is known for its world-class amenities, beautiful neighborhoods, high quality services, Blue Ribbon schools, superior transportation accessibility and a thriving economy.  In 2011, Plano was designated the best place to live in the Western United States by CNN Money magazine and was also selected as the safest city in America in 2011 by Forbes.

Walgreens is situated on an approximately 1.38 acre site at the hard corner of the intersection of West Spring Creek Parkway and Custer Road. This intersection is currently being reconfigured to improve traffic flow within the area and is planned for completion in early 2014. Current traffic counts at the intersection include 34,355 vehicles per day on West Spring Creek Parkway and an additional 29,371 vehicles per day on Custer Road. This location boasts a three mile population of over 140,000 and impressive average household incomes of $100,404. Nearby tenants include 7-Eleven, CVS Pharmacy, Walmart Supercenter, Dollar Tree, Kroger Grocery, 24 Hour Fitness, Sprouts Farmer' s Market, Tom Thumb Grocery, Hobby Lobby and Walmart Neighborhood Market.

Financial Summary

  • Actual
  • $446,000

Map of 6324 Custer Road, Plano, TX 75023 (Collin County)

Research for 6324 Custer Road, Plano, TX 75023 (Collin County)

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Presented by The Woodmont Company
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Brad's Other Listings

Asking Price Index Trends for Plano, TX Retail For Sale

  Mar 14 vs. 3 mo.
prior
Y-O-Y
-
State
$127+0.0%+6.0%
-
Metro
$147-1.5%+5.7%
-
County
$217+3.7%+14.6%

View Plano Market Trends for other property types for sale or lease. Learn more about the chart info.

Created 10/29/2013
New Walgreens - Plano, Texas
  • Retail
  • $8,495,238
  • 14,550 SF