Walgreens: The Colony, TX | 5297 State Highway 121
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Walgreens: The Colony, TX 5297 State Highway 121
13,650 SF Retail Building The Colony, TX 75056 $6,066,667 ($444/SF) 5.85% Cap Rate
Investment Highlights
- Walgreens’ NNN lease recently commenced in November 2023 and features ±14.0 years of term remaining.
- Located at the signalized intersection of Paige Road (18,271 VPD) and TX-121 (22,946 VPD), which runs alongside the Sam Rayburn Tollway (120,950 VPD).
- 8.2 MSF of retail, 12.9 MSF of office, 5.9 MSF of industrial, and 15,640 multifamily units within a 3-mile radius.
- 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.
- Adjacent to 5 hospitality properties totaling over 750 rooms.
- Within 2 miles of the 433-acre Grandscape retail and entertainment development.
Executive Summary
CBRE is pleased to offer for sale the 13,650-square-foot Walgreens situated on 1.80 acres in The Colony, TX - a component of the Dallas-Fort Worth-Arlington, TX MSA (Population: 8.0M). Walgreens’ NNN lease recently commenced in November 2023 and features ±14.0
years of term remaining with 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.
years of term remaining with 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,650 SF
Building Class
C
Year Built
2002
Price
$6,066,667
Price Per SF
$444
Cap Rate
5.85%
NOI
$354,900
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.80 AC
Parking
75 Spaces (5.49 Spaces per 1,000 SF Leased)
Frontage
489 FT on Paige Road
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R194868 | Improvements Assessment | $1,400,349 |
| Land Assessment | $2,197,776 | Total Assessment | $3,598,125 |
PROPERTY TAXES
Parcel Number
R194868
Land Assessment
$2,197,776
Improvements Assessment
$1,400,349
Total Assessment
$3,598,125
1 of 5
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Walgreens: The Colony, TX | 5297 State Highway 121
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.