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Walgreens

Gatesville, Texas

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NNN Pro Group is pleased to present the exclusive listing for a Walgreens located at 2735 S State Hwy, Gatesville, TX 76528. The site consists of roughly 14,750 rentable square feet of building space on estimated 1.82-acre parcel of land. This Walgreens is subject to a 15-year absolute triple-net (NNN) lease, which commenced February 23, 2023. The current annual rent is $222,300 and is scheduled to increase by 5% every 5 years throughout the base term and in each of the 12, 5-year renewal options.

✓ Long-Term, 15-Year Absolute Triple Net (NNN) Lease
✓ Approximately 14.2 Years Remaining
✓ Five Percent (5%) Rental Increases Occurring Every Five (5) Years
✓ Twelve (12), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 75 Years

Key Details

Price:
$3,705,000
Cap Rate:
6.00%
Annual Rent:
$222,300
Address:
2735 S State Hwy, Gatesville, Texas 76528
Property Type:
Retail - Drug Store
Lease Type:
Triple Net (NNN)

Original Lease Term:
15 Years
Lease Commencement:
February 23, 2023
Lease Expiration:
February 28, 2038
Lease Term Remaining:
14.20 Years
Rental Increases:
5% Every 5 Years
Lot Size:
1.82 Acres
Building Size:
14 SF
Year Built:
2007
Tenant:
Walgreens

Talk to the pros

Glen Kunofsky

License: 49KU1129178

James Westerberg

License: 10401304686

Walker Stevens

Broker of record

Brian Brockman

Bang Realty Inc.

License: 701472


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