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Walgreens 2417 82nd St 15,053 SF Retail Building Lubbock, TX 79423 $3,768,800 ($250.37/SF) 8% Cap Rate

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INVESTMENT HIGHLIGHTS

Extended Net Lease with Renewal Options
Excellent Access & Visibility | Hard Corner Intersection of 82nd Street (20,851 VPD) & University Avenue (27,424 VPD)
Dense Retail & Commercial Corridor | 7.6 MSF Retail, 3.7 MSF Office, 6.3 MSF Industrial, 7,089 Multifamily Units & 2,015 Hotel Rooms within 3-Miles

Long-Term Operating History with Solid Reported Sales
Less Than 5 Miles to Texas Tech University (Enrollment: 41,000+)
Lubbock, TX MSA (Population: 362,839)

EXECUTIVE SUMMARY

CBRE is pleased to offer for sale the 15,053-square-foot Walgreens situated on 1.48 acres in Lubbock, Texas (MSA Population: 362,839). Originally set to expire in 2021, Walgreens’ net lease was previously extended through 2032 and currently features ±7.0 years of primary term remaining and eight, 5-year options to renew.

PROPERTY FACTS

Sale Type

Investment

Property Type

Retail

Property Subtype

Drug Store

Building Size

15,053 SF

Building Class

Year Built

2000

Price

$3,768,800

Price Per SF

$250.37

Cap Rate

NOI

$301,500

Tenancy

Single

Building Height

1 Story

Building FAR

0.23

Lot Size

1.48 AC

Parking

75 Spaces (4.98 Spaces per 1,000 SF Leased)

Frontage

244’ on 82nd St

Pylon Sign

Signage

Signalized Intersection

Drive Thru

Retailer
-
$9.99
Lorem Ipsum
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.