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Drug Store

Walgreens

3732 W Northwest Hwy, Dallas, TX 75220

Listing Price: $9,700,000

Cap Rate
4.18%
Tenant Name
Walgreens
Years Remaining On Lease
13.1
Guarantor
Corporate Guarantee
Rentable SF
16,200
Lease Type
Absolute Net
Rent Per Square Feet
$25.00

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Walgreens a single-tenant property located at 3732 West Northwest Highway, Dallas, Texas 75220. The subject property is comprised of 16,200 square feet, built-in 1996. The building sits on a large 1.77 acre lot located just off West Northwest Highway (±38,800 VPD). Walgreens operates on an absolute-net lease backed by a corporate guaranty with 13 years remaining. Every 5-years rent will increase 5% with the option to extend the term for twelve, 5-year options. Walgreens benefits from many national tenants surrounding this location as well as Dallas Love Field Airport to which the property backs up to. Walgreen Company or simply Walgreens is an American company that operates as the second-largest pharmacy store chain in the United States behind CVS Health. It specializes in filling prescriptions, health and wellness products, health information, and photo services. As of August 31, 2018, the company operated 9,560 stores in all 50 states, the District of Columbia and the US territories of Puerto Rico and the U.S. Virgin Islands. It was founded in Chicago, Illinois, in 1901. The Walgreens headquarters office is in the Chicago suburb of Deerfield, Illinois.

Investment Highlights

  • Absolute-Net Lease: 15 Year Lease Extension with 13 Years Remaining. Rare 5% Rental Increases Every 5 Years Including Each of the Twelve, 5-Year Options to Extend the Term.
  • Corporate Guaranty (NASDAQ: WBA): Walgreens, Founded in 1901, has ±9,560 Stores and ±258,500 Employees. Fiscal 2021 Sales Increased 8.6% Totaling $132.5 Billion in Revenue.
  • Just North of Dallas Love Field Airport: Dallas Love Field has Over ±170,162 Aircraft Operations and ±7,684,653 Passengers Annually.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Listing Price: $9,700,000

Cap Rate
4.18%
Tenant Name
Walgreens
Years Remaining On Lease
13.1
Guarantor
Corporate Guarantee
Rentable SF
16,200
Lease Type
Absolute Net
Rent Per Square Feet
$25.00

Investment Highlights

  • Absolute-Net Lease: 15 Year Lease Extension with 13 Years Remaining. Rare 5% Rental Increases Every 5 Years Including Each of the Twelve, 5-Year Options to Extend the Term.
  • Corporate Guaranty (NASDAQ: WBA): Walgreens, Founded in 1901, has ±9,560 Stores and ±258,500 Employees. Fiscal 2021 Sales Increased 8.6% Totaling $132.5 Billion in Revenue.
  • Just North of Dallas Love Field Airport: Dallas Love Field has Over ±170,162 Aircraft Operations and ±7,684,653 Passengers Annually.

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Walgreens a single-tenant property located at 3732 West Northwest Highway, Dallas, Texas 75220. The subject property is comprised of 16,200 square feet, built-in 1996. The building sits on a large 1.77 acre lot located just off West Northwest Highway (±38,800 VPD). Walgreens operates on an absolute-net lease backed by a corporate guaranty with 13 years remaining. Every 5-years rent will increase 5% with the option to extend the term for twelve, 5-year options. Walgreens benefits from many national tenants surrounding this location as well as Dallas Love Field Airport to which the property backs up to. Walgreen Company or simply Walgreens is an American company that operates as the second-largest pharmacy store chain in the United States behind CVS Health. It specializes in filling prescriptions, health and wellness products, health information, and photo services. As of August 31, 2018, the company operated 9,560 stores in all 50 states, the District of Columbia and the US territories of Puerto Rico and the U.S. Virgin Islands. It was founded in Chicago, Illinois, in 1901. The Walgreens headquarters office is in the Chicago suburb of Deerfield, Illinois.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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