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496 Highway 96 S 14,550 SF Retail Building Silsbee, TX 77656 $5,411,536 ($371.93/SF) 6.90% Cap Rate
Executive Summary
We are pleased to present for sale this Absolute Net Leased Walgreens located at 496 Highway 96 S in Silsbee, just North of Beaumont, Texas. The subject property consists of a 14,550 SF free-standing building with a drive-thru and is situated on a large 1.71-acre parcel of land.
Strategically located on the hard signalized intersection of 5th Street and W/E Avenue North, the property benefits from incredible visibility to traffic counts exceeding 25,460 per day. The Walgreens sits along a major thoroughfare and benefits from the proximity to Highway 96, which sees more than 16,925 vehicles per day and Silsbee’s Elementary and Highschool. The immediate trade area is also home to McDonald’s, Taco Bell, Subway, Jack in the Box, Exxon, KFC, Whataburger, Sonic, AutoZone, Walmart, and numerous other National and Regional Tenants.
Walgreens originally signed a 25-year Absolute NNN lease in 2010 and currently has over 10 years of initial term remaining with ten 5-year options to renew.
Walgreens is a publicly traded company that operates the secondlargest pharmacy store chain in the United States, behind CVS Health. It specializes in filling prescriptions, health and wellness products, and numerous other services with more than 8,200 locations across the U.S, District of Colombia, Puerto Rico, and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies.
Strategically located on the hard signalized intersection of 5th Street and W/E Avenue North, the property benefits from incredible visibility to traffic counts exceeding 25,460 per day. The Walgreens sits along a major thoroughfare and benefits from the proximity to Highway 96, which sees more than 16,925 vehicles per day and Silsbee’s Elementary and Highschool. The immediate trade area is also home to McDonald’s, Taco Bell, Subway, Jack in the Box, Exxon, KFC, Whataburger, Sonic, AutoZone, Walmart, and numerous other National and Regional Tenants.
Walgreens originally signed a 25-year Absolute NNN lease in 2010 and currently has over 10 years of initial term remaining with ten 5-year options to renew.
Walgreens is a publicly traded company that operates the secondlargest pharmacy store chain in the United States, behind CVS Health. It specializes in filling prescriptions, health and wellness products, and numerous other services with more than 8,200 locations across the U.S, District of Colombia, Puerto Rico, and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,550 SF
Building Class
C
Year Built
2010
Price
$5,411,536
Price Per SF
$371.93
Cap Rate
6.90%
NOI
$373,396
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.71 AC
Opportunity Zone
Yes
Zoning
C-2 - Commercial
Parking
70 Spaces (4.81 Spaces per 1,000 SF Leased)
Frontage
467’ on U.S. 96 Business
Amenities
- Pylon Sign
- Signage
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
CommunityBank of Texas
Property Taxes
| Parcel Number | 004100-003955 | Improvements Assessment | $2,130,322 |
| Land Assessment | $185,875 | Total Assessment | $2,316,197 |
Property Taxes
Parcel Number
004100-003955
Land Assessment
$185,875
Improvements Assessment
$2,130,322
Total Assessment
$2,316,197
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496 Highway 96 S
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