Drug Store

Walgreens

4501 Ayers St, Corpus Christi, TX 78415

Listing Price: $3,467,000

Cap Rate
7.50%
Tenant Name
Walgreens
Years Remaining On Lease
2.2
Guarantor
Corporate Guarantee
Rentable SF
13,905
Lease Type
Double Net
Rent Per Square Feet
$18.70

Investment Overview

Marcus & Millichap is pleased to offer for sale the 100 percent fee simple interest in 4501 Ayers Street, Corpus Christi, TX (The Property), a 13,905 square foot building that is currently leased by Walgreen Co. (Moody’s Rating: ‘Baa2’) with 2.5 years of term. The Property located in Corpus Christi, TX has been occupied by Walgreens since 1998. The Property sits at the hard corner and signalized intersection of Ayers street and Gollihar road, providing maximum visibility and exposure to the over 42,000 vehicles passing this intersection daily. The store location is two blocks off one of the main entrance roads to the major tourist attraction of South Padre island which sees 4.3 million visitors annually and is one of the highest rated attractions in the state. This offering presents the opportunity to acquire a corporately guaranteed Walgreens property with 2.5 years remaining on their lease, and 6 (5-Year) options to extend.

Investment Highlights

  • Income Tax Free State
  • Strong Recent Jump in Store Sales
  • Heavy Traffic Counts of Over 42,000 VPD Two Blocks Off Major Expressway

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    License(s): TX: 9002994

    Texas

Listing Price: $3,467,000

Cap Rate
7.50%
Tenant Name
Walgreens
Years Remaining On Lease
2.2
Guarantor
Corporate Guarantee
Rentable SF
13,905
Lease Type
Double Net
Rent Per Square Feet
$18.70

Investment Highlights

  • Income Tax Free State
  • Strong Recent Jump in Store Sales
  • Heavy Traffic Counts of Over 42,000 VPD Two Blocks Off Major Expressway

Investment Overview

Marcus & Millichap is pleased to offer for sale the 100 percent fee simple interest in 4501 Ayers Street, Corpus Christi, TX (The Property), a 13,905 square foot building that is currently leased by Walgreen Co. (Moody’s Rating: ‘Baa2’) with 2.5 years of term. The Property located in Corpus Christi, TX has been occupied by Walgreens since 1998. The Property sits at the hard corner and signalized intersection of Ayers street and Gollihar road, providing maximum visibility and exposure to the over 42,000 vehicles passing this intersection daily. The store location is two blocks off one of the main entrance roads to the major tourist attraction of South Padre island which sees 4.3 million visitors annually and is one of the highest rated attractions in the state. This offering presents the opportunity to acquire a corporately guaranteed Walgreens property with 2.5 years remaining on their lease, and 6 (5-Year) options to extend.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    License(s): TX: 9002994

    Texas

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