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Drug Store

Walgreens

1600 S Western St, Amarillo, TX 79106

Listing Price: $4,517,000

Cap Rate
6.00%
Tenant Name
Walgreens
Years Remaining On Lease
3.1
Gross SF
15,036
Guarantor
Corporate Guarantee
Rentable SF
15,036
Price/Gross SF
$300.41
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.02

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple-net lease Walgreens in Amarillo, Texas. The property consists of a 15,036-square-foot, freestanding building that sits on approximately 1.87 acres of land. There are approximately three years remaining on the current lease term. Walgreens has operated at this location since 2000 and exercised their first option in 2020. The lease is guaranteed by Walgreens Co., which currently has a Standard & Poor’s rating of BBB and is a Fortune 500 company. The property is located at the signalized hard corner of Western Street and Plains Boulevard, where combined traffic counts exceed 27,058 vehicles per day. The area is extremely dense with more than 157,567 residents within a five-mile radius. Surrounding retailers in the immediate area include McDonald’s, Wendy’s, IHOP, Olive Garden, Waffle House, Rudy’s Country Bar-BQ, Braum’s Ice Cream and many more.

Investment Highlights

  • Walgreens Exercised Their First Option and has Operated at This Location Since 2000
  • Signalized Hard Corner Location on Western Street and Plains Boulevard; Combined Traffic Counts Exceed 27,058 Vehicles per Day
  • Dense Infill Location - More than 157,567 Residents Within a Five-Mile
  • Across from the $6.5 Million Sunset Center Renovation Project that will Include the New Amarillo Arts Facility
  • Near Amarillo's Medical District, Which Includes the BSA Hospital, Northwest Texas Healthcare System, the Amarillo VA, and Amarillo College West Campus
  • Ease of Access to Interstate 40, the City's Main Thoroughfare
  • Large 1.87 Parcel with Ample Parking and Multiple Access Points

Exclusively Listed By

Financing By

Listing Price: $4,517,000

Cap Rate
6.00%
Tenant Name
Walgreens
Years Remaining On Lease
3.1
Gross SF
15,036
Guarantor
Corporate Guarantee
Rentable SF
15,036
Price/Gross SF
$300.41
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.02

Investment Highlights

  • Walgreens Exercised Their First Option and has Operated at This Location Since 2000
  • Signalized Hard Corner Location on Western Street and Plains Boulevard; Combined Traffic Counts Exceed 27,058 Vehicles per Day
  • Dense Infill Location - More than 157,567 Residents Within a Five-Mile
  • Across from the $6.5 Million Sunset Center Renovation Project that will Include the New Amarillo Arts Facility
  • Near Amarillo's Medical District, Which Includes the BSA Hospital, Northwest Texas Healthcare System, the Amarillo VA, and Amarillo College West Campus
  • Ease of Access to Interstate 40, the City's Main Thoroughfare
  • Large 1.87 Parcel with Ample Parking and Multiple Access Points

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple-net lease Walgreens in Amarillo, Texas. The property consists of a 15,036-square-foot, freestanding building that sits on approximately 1.87 acres of land. There are approximately three years remaining on the current lease term. Walgreens has operated at this location since 2000 and exercised their first option in 2020. The lease is guaranteed by Walgreens Co., which currently has a Standard & Poor’s rating of BBB and is a Fortune 500 company. The property is located at the signalized hard corner of Western Street and Plains Boulevard, where combined traffic counts exceed 27,058 vehicles per day. The area is extremely dense with more than 157,567 residents within a five-mile radius. Surrounding retailers in the immediate area include McDonald’s, Wendy’s, IHOP, Olive Garden, Waffle House, Rudy’s Country Bar-BQ, Braum’s Ice Cream and many more.

Exclusively Listed By

Financing By

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