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16211 Spring Cypress Rd
Cypress, TX 77429
Walgreens - Tax Free State · Retail Property For Sale

PROPERTY FACTS

Property Type
Retail
Property Subtype
Drug Store
Building Size
14,490 SF
Building Class
B
Year Built
2003
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
2.00 AC
Zoning
N/Ap, County
Parking
62 Spaces (4.28 Spaces per 1,000 SF Leased)

ABOUT 16211 SPRING CYPRESS RD , CYPRESS, TX 77429

The subject property is a 14,490 square foot Walgreens store located in Cypress, an affluent suburb of Houston, TX, part of the Harris county. Walgreens (NASDAQ: WBA) has an Investment Grade Credit Rating “BBB” by Standard & Poor’s. Walgreens signed a 75-year lease, with ten 5-year termination options that commence on December 1st, 2029. There are approximately 9.5 +/- years remaining on the initial term of the lease. Lease is an absolute NNN lease providing investors with carefree ownership. Store was built in 2003 to capture the residents going to and from work on Spring Cypress and Barker Cypress Roads, a corner which boasts a combined daily traffic and of Walgreens presence in the Eastern part of the city, along the South Sycamore Avenue. Tenant has been successfully operating at this address for 15 years, showing strong commitment to the location. Site is equipped with a double drive-thru pharmacy.

PROPERTY TAXES

  • Listing ID: 14370797

  • Date on Market: 11/13/2018

  • Last Updated:

  • Address: 16211 Spring Cypress Rd, Cypress, TX 77429