2300 Pecan Blvd
McAllen, TX 78501
Walgreens · Retail Property For Sale

Capital Commercial & The Porter Group are pleased to present this 12,928 sqft Walgreens at a Negotiable Cap Rate. Walgreens is strategically located at the signalized, high traffic count intersection of Pecan Boulevard (Highway495) and 23rd Street. Being one mile from McAllen International Airport and directly across from thriving retail, the double net property (NN) is in the middle of the central business district of McAllen, Texas. The turn-key property has 17 years left on the initial lease with an additional 5 (five year) options. McAllen is Hidalgo County' s fastest growing and largest city. It made a name for itself in the 1990's and 2000's due to its massive population boom. Since then McAllen along with Edinburg and Mission are one of the fastest growing metropolitan areas in the United States. Walgreens has been a staple at this location since it was built in 1992. Due to the extraordinary population growth and vibrant local economy Walgreens in 2014 decided to exercise early their options and commit to the location by offering a brand new lease for a guaranteed 20 years plus another 25 years in options. With the strong population growth, corporate backed guaranteed lease through 2032 and booming local economy, Walgreens will be a long term tenant at this site for many years to come. The property generates $166,000 of guaranteed income every year. The property enhances its location with a drive thru pharmacy. Walgreens is the largest pharmaceutical company in the United States operating 8,177 stores nationwide. Walgreens carries a BBB- credit rating and had $103.44 billion is revenue for 2015.