2204 Southmore Ave
Pasadena, TX 77502
Walgreens · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Scheduled rent increases of 5% every 5 years provide steady rent growth over the initial term and option periods.
- Walgreens is rated BBB by S&P providing long term security.
- Signalized hard corner location with exposure to over 28,000 VPD at the intersection.
- Walgreens reports $3.7 mm in sales at this location indicating their profitability at this location.
- Texas is an income tax free state and fee simple ownership allows an investor to depreciate the building.
PROPERTY FACTS
Property Type
Retail
Property Subtype
Drug Store
Building Size
15,044 SF
Building Class
B
Year Built
2000
Tenancy
Single
Building Height
1 Story
Building FAR
0.29
Lot Size
1.21 AC
Parking
60 Spaces (3.99 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,468,823 | |
| Land Assessment | $413,454 | Total Assessment | $1,882,277 |
