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Replaceable Rent Levels 1801 FM 1765 15,025 SF Retail Building La Marque, TX 77568 $2,800,000 ($186.36/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Under market rent with Walgreens paying $13.89 per square foot.
- The lease features 5% rental increases at each 5 year option period beginning in 2030.
- Close proximity to Interstate 45, which connects Galveston to Houston and then to Dallas, with over 60,000 vehicles per day.
- In 2019 Walgreens restructured and extended its lease. In 2025, Walgreens renewed its next 5 year option as scheduled.
- Located approximately 40 miles from Downtown Houston, the Houston MSA is the fifth-most populous metropolitan statistical area in the United States.
- 1.5 miles south of HCA Houston Healthcare Mainland, a 222-bed hospital.
EXECUTIVE SUMMARY
The Walgreens lease features under market rent levels, with Walgreens paying $13.89 per square foot, allowing for an investor to have minimal risk in future rent replacement. Additionally, Walgreens has a history of lease renewals at this site. Operating at the location since 2000, Walgreens has either restructured or extended its lease in both 2019 and 2025.
La Marque is strategically positioned approximately 40 miles south of Downtown Houston, within the Houston MSA, the fifth-most populous metropolitan statistical area in the United States. Located 1.5 miles from the Property, HCA Houston Healthcare Mainland serves as a major healthcare anchor for the region. This 222-bed acute care facility features a Level III Trauma Center, driving daily pharmacy-related traffic to the Property.
The Property also benefits from its location within a robust industrial corridor, with over 7.83 million square feet of industrial space nearby, anchored by INEOS Styrolution, a leading global styrenics supplier. The INEOS facility alone encompasses 5.2 million square feet of chemical and oil refining operations, providing substantial employment and economic stability to the area.
Listed in conjunction with Brian Brockman, Bang Realty - Texas Inc., 513-898-1551, wg@bangrealty.com, TX DRE Lic. 701472.
PROPERTY FACTS
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
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- Retailer
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Lorem Ipsum
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Jan 0000
Walgreens, founded by Charles Rudolph Walgreen in 1901 in Chicago, is a major U.S. pharmacy and retail chain operating under the publicly traded parent, Walgreens Boots Alliance (NASDAQ: WBA). Headquartered in Deerfield, Illinois, it provides prescription services, health and wellness products, photo services, and expanded healthcare offerings including immunizations and diagnostic screenings. As of late 2025, the company operated thousands of retail locations across the United States and Puerto Rico, serving roughly 78% of Americans within five miles of a store. Walgreens maintains omnichannel operations—blending in-store, online, drive-thru, and home delivery services—and has strategic healthcare partnerships, notably with VillageMD. Under the direction of new CEO Mike Motz, following the August 2025 purchase by Sycamore Partners, Walgreens continues to emphasize core pharmacy execution, digital innovation, and integrated care solutions.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
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Retailer | - | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 7354-0000-0001-000 | Improvements Assessment | $2,288,915 |
| Land Assessment | $104,860 | Total Assessment | $2,393,775 |
PROPERTY TAXES
CONTACTS
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Jason Pongsrikul -
Chris Barry -
Pharma Property Group- Drugstore Specialists
Presented by
Replaceable Rent Levels | 1801 FM 1765
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