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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

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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

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

Retailer
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Walgreens Boots Alliance began with Walgreens, which was founded in 1901 and grew from a neighborhood drugstore into a large pharmacy and retail business. The company was formed later through the combination of Walgreens and Alliance Boots, creating a business with a broad presence in pharmacy retail and health-focused services. Its operations include retail pharmacy, healthcare services, and pharmaceutical wholesale, with digital and in-store offerings that support prescription access, consultations, immunizations, and wellness products. Walgreens Boots Alliance has remained centered on pharmacy-led care while serving customers through a mix of community locations and online channels.