Asking Price
Sq. Footage 13,950
NOI Net Operating Income
Cap Rate 6.00%

Attributes

Year Built 1997
Lease Type NN
Current / Passing Rent
Lease Expiration 2032-05-31
Remaining Term 12 years, 4 months
Tenant Walgreens Company
Lot Size 1.4 ACRES

Property Description

JLL is pleased to exclusively offer a premier investment opportunity to acquire the fee simple interest in a single-tenant property (the “Property” or the “Asset”) leased to Walgreen Co. (the “Tenant“) in Clute, TX. The Property is situated at the lighted intersection of Plantation Drive and Dixie Drive that sees over 30,000 VPD. The Property is located in a busy Clute location with immediate proximity to the Nolan Ryan Expressway, Brazoswood High School and numerous nationwide tenants. Walgreens, an investment grade tenant (BBB/Stable (S&P)); has occupied the property since 1973, with extension options available until 2067.


Investment Highlights

  • Strong operating history from the tenant dating back to 1973
  • Proximate to the Nolan Ryan Expressway in dense retail hub
  • AHHI within a 5-mile radius is over $90,000 and expected to grow to over $100,000 over the next 5 years
  • Investment-grade tenancy (S&P: BBB/Stable)
Alex Sharrin
Alex Sharrin
SVP, Capital Markets
Licensed in
IL - 475.170243
Ryan West
Senior Managing Director

JLL  financing

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