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Walgreens: San Antonio, TX 2710 Nogalitos St 14,218 SF Retail Building San Antonio, TX 78225 $4,600,000 ($323.53/SF) 6% Cap Rate

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Investment Highlights

Brand New 15-Year Lease | Corporate Guaranteed
Strong Operator | 139+ Billion Revenue In 2023
Strong Demographics In 5-Mile Trade Area

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
2nd Largest City In Texas | 1.4+ Million Residents

Executive Summary

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate guaranteed (NASDAQ: WBA), Walgreens investment property located in San Antonio, Texas. The tenant, Walgreen Co., recently signed a brand new 15 year lease with 12 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. Founded in 1901, and representing one of the largest pharmacies in America with over 9,000 retail locations, Walgreens is a pharmaceutical and health destination serving nearly 10 million customers each day. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

14,218 SF

Building Class

Year Built/Renovated

1993/2010

Price

$4,600,000

Price Per SF

$323.53

Cap Rate

NOI

$275,968

Tenancy

Single

Building Height

1 Story

Building FAR

0.22

Lot Size

1.49 AC

Zoning

C-3R - Commercial

Parking

63 Spaces (4.43 Spaces per 1,000 SF Leased)

Frontage

302’ on W Theo

Bus Line
Corner Lot

Pylon Sign
Signage

Signalized Intersection

Drive Thru

Retailer
99,999 SF
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Walgreens is a major U.S. pharmacy and retail chain founded in 1901 in Chicago, Illinois. The company operates thousands of locations across the United States, providing prescription medications, over-the-counter drugs, health and wellness products, and convenience items. Walgreens also offers services such as immunizations, health screenings, and photo processing. The company has expanded its healthcare offerings through partnerships and in-store clinics, aiming to integrate pharmacy services with broader health solutions. Walgreens is part of Walgreens Boots Alliance, a global pharmacy-led health and wellbeing enterprise.