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Walgreens: Lubbock, TX 2417 82nd St 15,053 SF Retail Building Lubbock, TX 79423 $3,768,800 ($250.37/SF) 8% Cap Rate
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 ±6.3 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
B
Year Built
2000
Price
$3,768,800
Price Per SF
$250.37
Cap Rate
8%
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
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Walgreens began in 1901 on Chicago's South Side, when pharmacist Charles R. Walgreen Sr. opened a neighborhood drugstore that grew into a national chain. Walgreens later combined with Alliance Boots to form Walgreens Boots Alliance, bringing together retail pharmacy, pharmaceutical wholesaling, and healthcare services under one business. Walgreens Boots Alliance operates an integrated healthcare, pharmacy, and retail model spanning U.S. and international operations, with businesses centered on prescription filling, consumer health products, beauty items, and related services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R34365 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,819,899 |
Property Taxes
Parcel Number
R34365
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,819,899
Contacts
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Ty Grenier -
Chris Cozby -
Leah Lindell -
Abby Kelly -
CBRE, Inc.
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