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Walgreens 2735 S State Hwy 14,820 SF Retail Building Gatesville, TX 76528 $3,556,800 ($240/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease with Rental Growth
- Prime Retail Corridor with High-Traffic Neighboring Anchors
- Strong Corporate Guarantee
- Strong Demographics with Growing Consumer Base
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a Walgreens located at 2735 S State Hwy, Gatesville, TX 76528. The site consists of roughly 14,820 rentable square feet of building space on an estimated 1.36-acre parcel of land. This Walgreens is subject to a 15-year Triple Net (NNN) lease, which commenced 2/23/2023. The current annual rent is $222,300 and has scheduled increases of 5.00% every 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
C
Year Built
2016
Price
$3,556,800
Price Per SF
$240
Cap Rate
6.25%
NOI
$222,300
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
1.36 AC
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 145799 | Improvements Assessment | $556,320 |
| Land Assessment | $344,190 | Total Assessment | $900,510 |
PROPERTY TAXES
Parcel Number
145799
Land Assessment
$344,190
Improvements Assessment
$556,320
Total Assessment
$900,510
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Walgreens | 2735 S State Hwy
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