12025 Huffmeister Rd
Cypress, TX 77429
Walgreens $3.4M l Houston MSA l 6.5% CAP · Retail Property For Sale

Pharma Property Group has been exclusively retained by ownership to present for sale the opportunity to acquire the Walgreens property located in Cypress, Texas. The lease has approximately 5 years and 11 months remaining before the Six (5-year) options to follow and operates on a double net lease basis with landlord responsible for roof and structure. Walgreens recently exercised their option to extend at current rents showing commitment to this location. There is a CVS directly across the street from this Walgreens making this a critical location for market share. Adjacent and across the street from the subject property are a total of 354 residential units. One complex containing 146 units is a senior living housing development completed in 2013. There are two hospitals near the subject property. Encompass Health Rehabilitation Hospital (3.2 miles southeast) is a 60-room medical rehabilitation facility for patients needing long term inpatient care. HCA Houston Healthcare North Cypress Medical (1.7 miles southwest) is a 139-bed, general acute care hospital with emergency services. The subject property is located at the signalized northwest corner of Huffmeister Road and Cypress North Houston Road with a combined average daily traffic count of 36,920 vehicles per day. The average household income in a one-mile radius is $80,104, in a three-mile radius it is $102,200, and it is $105,097 in a five mile radius. Total one-mile population count is 12,262, there are 93,321 residents in a three-mile radius and 294,683 in a five-mile radius.The subject property is located in a suburb approximately 24 miles northwest of downtown Houston, Texas. The Houston MSA is the 5th- most populous metropolitan area in the United States and has approximately 6.5 million residents.