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Walgreens (37,729 VPD) 3614 S 31st St 13,573 SF Retail Building Temple, TX 76502 $3,637,000 ($267.96/SF) 8.25% Cap Rate
Investment Highlights
- Recent Lease Extension | Tenant Exercised Second Option | 9.8 Years Remaining
- Positioned Within Retail Corridor Anchored by Walmart Supercenter and Temple Mall
- 640-Bed Baylor Scott & White Medical Center and 115-Bed McLane Children’s Hospital Within 1 Mile
- Large 1.77 Acre Parcel | Dual-Street Frontage on South 31st Street and Marlandwood Road (Combined 37,729 VPD)
- Direct Connectivity to H K Dodgen Loop (51,733 VPD) — Temple’s Primary Bypass Linking Regional Retail and Residential Growth
- 83,180 Residents & 99,051 Daytime Population Driven by Healthcare and Retail Employment (5-Mile Radius)
Executive Summary
Offered for sale is a double net lease Walgreens located in Temple, Texas. The tenant has exercised its second renewal option, extending the lease term and demonstrating continued commitment to the site, which operates as a corporate-guaranteed store. The 13,573-square-foot property sits on a 1.77-acre parcel with dual-street frontage along South 31st Street and Marlandwood Road (combined 37,729 VPD) and is positioned within a primary retail corridor anchored by Walmart Supercenter and Temple Mall. The site benefits from direct connectivity to H K Dodgen Loop and proximity to major healthcare facilities, including Baylor Scott & White Medical Center and McLane Children’s Medical Center, supporting consistent traffic from surrounding retail and medical demand.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,573 SF
Building Class
B
Year Built
1996
Price
$3,637,000
Price Per SF
$267.96
Cap Rate
8.25%
NOI
$300,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.77 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Walgreens Boots Alliance traces its roots to Walgreens, founded in Chicago in 1901, and later grew through the combination with Alliance Boots into a broader healthcare, pharmacy, and retail business. The company describes itself as an integrated healthcare, pharmacy, and retail leader serving millions of customers and patients every day. Its business spans retail pharmacy, prescription services, health and wellness products, and related healthcare offerings, reflecting a focus on community-based care and access to medicines and services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Moderately walkable
70/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 234030 | Improvements Assessment | $907,922 |
| Land Assessment | $266,299 | Total Assessment | $1,174,221 |
Property Taxes
Parcel Number
234030
Land Assessment
$266,299
Improvements Assessment
$907,922
Total Assessment
$1,174,221
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Walgreens (37,729 VPD) | 3614 S 31st St
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