1810 W Tyler Ave
Harlingen, TX 78550
Walgreens | Strong Sales | NNN | 6.29 CAP · Retail Property For Sale

We are pleased to present for sale the opportunity to acquire the Walgreens property located in Harlingen, TX. This property is available for purchase and operates on an absolute net lease basis with ±12 years remaining on the lease term and fifty years in options to follow and no landlord responsibilities whatsoever. Income guaranteed by Walgreens corporation which has an investment grade credit rating of BBB (S&P) and is a top 20 Fortune 500 company with approximately 9,500 locations. This location is reporting strong sales well above the national average for Walgreens drugstores. Purchase is subject to buyer assuming the current interest only loan with a balance of $3,250,000 and a monthly debt service of $13,290. Cash required for down payment is $1,973,999 and annual cash flow after debt service is $167,019 for a cash on cash return of 8.46%. Loan is non-recourse and there is a 1 percent assumption fee paid by buyer. Loan due date is 1/25/2028. The subject property is located in the main retail corridor of Harlingen and is located a half mile from the Valley Vista Mall. There are ±2.9 Million square feet of retail space within a 1-mile radius. There are multiple ingress and egress access points to the subject property from the North off of West Harrison Avenue (±44,455 Vehicles Per Day) and from the South off of Tyler Avenue (±14,333 Vehicles Per Day). Harlingen is located in the Rio Grande Valley approximately 13 miles from the Mexican border and the Free Trade Bridge, which has a full U.S. Customs inspection facility and accommodates up to 75 commercial trucks simultaneously at this border crossing.