16211 Spring Cypress Rd
Cypress, TX 77429
Walgreens - Tax Free State · Retail Property For Sale
PROPERTY FACTS
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
| Parcel Number | 1225640010082 | Improvements Assessment | $1,479,871 |
| Land Assessment | $977,844 | Total Assessment | $2,457,715 |
