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Walgreens 110 S SW Loop 323
14,820 SF Retail Building Tyler, TX 75702 $5,400,000 ($364/SF) 9.15% Cap Rate
Investment Highlights
- 10+ Years remaining in initial term
- Dominent Intersection with more than 300,000 SF of retail
- Walgreens Corporate Guarantee | Investment Grade Tenant
Executive Summary
Marcus & Millichap is pleased to exclusively offer a 15,180-squarefoot freestanding Walgreens situated on 1.93 acres in Tyler,
Texas. Located 95 miles east of Dallas on Interstate 20, Tyler is the largest community (MSA Population: 218,842) in East Texas. Built-in 2008, Walgreens signed a 25-year absolute NNN lease which has 10+ years of primary term remaining. The property is ideally positioned at the signalized hard corner intersection of S Southwest Loop 323 and Erwin Street (Combined Traffic Count: 45,370 VPD), which serve as two of the area’s preeminent thoroughfares immediately adjacent to a parcel occupied by Chase Bank and McDonald’s. All four corners of the immediate intersection are heavily developed, with more than 300,000 square feet of retail, including Walmart Supercenter across SSW Loop 323 and Super 1 Foods across Erwin Street. Other major retailers with a presence in the immediate area include Sherwin Williams, CATO, Payless ShoeSource, Aaron’s, CVS, AutoZone, Starbucks, Dollar Tree, Rainbow, Gamestop, McDonald’s, Whataburger, Sonic, Church’s Chicken, Subway, IHOP, Popeye’s, and Verizon among many others. Additionally,
the site is situated within one of the area’s preeminent retail and commercial corridors with more than 1.9 MSF of retail and 1.4 MSF of office, 1.1 MSF of industrial space, and 2,110 units within a 3-mile radius. Further, the site is within walking distance of the 120-bed Greenbriar Nursing & Rehabilitation Center and a Fresenius Medical Care dialysis facility providing Walgreens with a built-in customer base. The site is also proximate to some of the area’s main points of interest, such as John Tyler High School (Enrollment: 2,000+ students)—1.5 miles, Downtown Tyler—3.2miles, and the 404-bed Mother Frances Hospital—3.3 miles. Reach out to listing agent for Offering Memorandum.
Property Facts
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
-
- Retailer
- 14,820 SF
- -
- Triple Net
- Oct 2033
Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Retailer | 14,820 SF | - | Triple Net | Oct 2033 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 1-50000-1254-00-003080 | Improvements Assessment | $808,358 |
| Land Assessment | $1,201,200 | Total Assessment | $2,009,558 |
PROPERTY TAXES
Presented by
Walgreens | 110 S SW Loop 323
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