Drug Store
Walgreens Portfolio
500 Maxey Rd, Houston, TX 77013
Listing Price: $5,340,000
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire the fee-simple interest in three single-tenant, corporate guaranteed, Walgreens locations in Houston Texas, White Bear Lake, Minnesota, and Cicero New York. All properties are leased to and guaranteed by Walgreens Boots Alliance, an “essential-use” and recession-resilient tenant. Walgreens is considered “investment grade” credit and is publicly traded on the New York Stock Exchange (NYSE: WAG) Moodys Baa2 / S&P BBB. The portfolio has an average lease term of eight years plus remaining on an absolute NNN fee simple basis with zero landlord responsibilities, providing consistent and reliable long-term cash-flow. This portfolio also provides investors with the unique opportunity to assume an existing loan with 6.5+ years remaining until the maturity date, with a fixed interest rate of 4.70 percent, which is well below the current market-average borrowing rate. With the attractive rate and terms on the assumable loan, investors can maximize cashflow without the need for loan origination, making this an ideal opportunity for 1031-exchange buyers with limited closing timelines. The three Walgreens locations have excellent real estate fundamentals, situated on high-traffic arterial roads with proximity to housing, employment, education, and other attractions. All three Walgreens locations feature FedEx Onsite and drive-through pharmacy windows. The Houston location features Village Medical clinic, offering a suite of additional medical services to the local community.
Investment Highlights
- Over 5.5 Year Remaining on Absolute NNN Lease with Zero Landlord Responsibilities
- Corporate Guarantee with Ten Five-Year Options for Maximum Term Through 2078
- Essential Use – Pandemic and Recession Resilient Tenant with Drive Thru, FedEx Onsite and Village Medical Location
- Located on Major Arterial Road and Benefits from 38,265 Vehicles Per Day just North of Interstate-10 with 154,870 Vehicles Per Day
- Strong Area Demographics - 193,447 Population Within Five-Mile Radius with Household Income of $60,301 Annually
- The Site Benefits from being Approximately 2.1 Miles from the Houston Community College with 48,329 Students and 1.5 Miles from East Houston Hospital (120 Beds)
- Nearby Tenants include McDonalds, USPS, DDs Discounts, Bank of America, Popeyes, Pizza Hut, KFC, Taco Bell, Family Dollar, Subway, Kroger, Domino's
Exclusively Listed By
Broker of Record
Financing By
Listing Price: $5,340,000
Investment Highlights
- Over 5.5 Year Remaining on Absolute NNN Lease with Zero Landlord Responsibilities
- Corporate Guarantee with Ten Five-Year Options for Maximum Term Through 2078
- Essential Use – Pandemic and Recession Resilient Tenant with Drive Thru, FedEx Onsite and Village Medical Location
- Located on Major Arterial Road and Benefits from 38,265 Vehicles Per Day just North of Interstate-10 with 154,870 Vehicles Per Day
- Strong Area Demographics - 193,447 Population Within Five-Mile Radius with Household Income of $60,301 Annually
- The Site Benefits from being Approximately 2.1 Miles from the Houston Community College with 48,329 Students and 1.5 Miles from East Houston Hospital (120 Beds)
- Nearby Tenants include McDonalds, USPS, DDs Discounts, Bank of America, Popeyes, Pizza Hut, KFC, Taco Bell, Family Dollar, Subway, Kroger, Domino's
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire the fee-simple interest in three single-tenant, corporate guaranteed, Walgreens locations in Houston Texas, White Bear Lake, Minnesota, and Cicero New York. All properties are leased to and guaranteed by Walgreens Boots Alliance, an “essential-use” and recession-resilient tenant. Walgreens is considered “investment grade” credit and is publicly traded on the New York Stock Exchange (NYSE: WAG) Moodys Baa2 / S&P BBB. The portfolio has an average lease term of eight years plus remaining on an absolute NNN fee simple basis with zero landlord responsibilities, providing consistent and reliable long-term cash-flow. This portfolio also provides investors with the unique opportunity to assume an existing loan with 6.5+ years remaining until the maturity date, with a fixed interest rate of 4.70 percent, which is well below the current market-average borrowing rate. With the attractive rate and terms on the assumable loan, investors can maximize cashflow without the need for loan origination, making this an ideal opportunity for 1031-exchange buyers with limited closing timelines. The three Walgreens locations have excellent real estate fundamentals, situated on high-traffic arterial roads with proximity to housing, employment, education, and other attractions. All three Walgreens locations feature FedEx Onsite and drive-through pharmacy windows. The Houston location features Village Medical clinic, offering a suite of additional medical services to the local community.
Exclusively Listed By
Broker of Record
Financing By

