Drug Store

Walgreens

8430 Broadway Street, Pearland, TX 77584

Listing Price: $5,655,000

Cap Rate
5.75%
Tenant Name
Walgreens
Years Remaining On Lease
56.30
Guarantor
Corporate Guarantee
Rentable SF
14,636
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.21

Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase the fee simple interest in a stand-alone drive-thru NNN leased Walgreens located at 8430 Broadway Street, Pearland, Texas. The property was constructed in 2002 and consists of a 14,636 square foot building situated on a 99,689 (2.289 acre) parcel. Walgreens has a primary lease term through 2027 with options through December 31, 2076. Walgreens is an investment grade Fortune 100 Company and the lease is guaranteed by corporate.

Investment Highlights

  • 2024 – Pearland is One of the Fastest Growing Cities in Texas
  • Located in a Dense Retail Quarter
  • Absolute Triple-Net (NNN) Lease with Corporate Guaranty
  • 7 Years Remaining on Lease Term
  • Walgreens is an Investment Grade Company with a Credit Rating of BBB
  • Walgreens is a Fortune 100 Company – Ranked #19
  • Located on Pearland's Main traffic Corridor and a Signalized Intersection

Exclusively Listed By

Listing Price: $5,655,000

Cap Rate
5.75%
Tenant Name
Walgreens
Years Remaining On Lease
56.30
Guarantor
Corporate Guarantee
Rentable SF
14,636
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$22.21

Investment Highlights

  • 2024 – Pearland is One of the Fastest Growing Cities in Texas
  • Located in a Dense Retail Quarter
  • Absolute Triple-Net (NNN) Lease with Corporate Guaranty
  • 7 Years Remaining on Lease Term
  • Walgreens is an Investment Grade Company with a Credit Rating of BBB
  • Walgreens is a Fortune 100 Company – Ranked #19
  • Located on Pearland's Main traffic Corridor and a Signalized Intersection

Investment Overview

Marcus & Millichap is pleased to present an opportunity to purchase the fee simple interest in a stand-alone drive-thru NNN leased Walgreens located at 8430 Broadway Street, Pearland, Texas. The property was constructed in 2002 and consists of a 14,636 square foot building situated on a 99,689 (2.289 acre) parcel. Walgreens has a primary lease term through 2027 with options through December 31, 2076. Walgreens is an investment grade Fortune 100 Company and the lease is guaranteed by corporate.

Exclusively Listed By

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