For Sale
$7,307,692

26482 Us-281San Antonio, TX 78258

San Antonio, TX - Net Lease Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a fee-simple ownership of a Walgreens Pharmacy (#13940) in San Antonio, Texas. Located at 26482 US-281, Bexar County, this single-tenant, 13,650 square foot building sits on a 1.58-acre lot. Built in 2012, the property boasts a 25.1-year absolute net lease with Walgreens Boots Alliance (WBA), a credit-rated tenant with a corporate guarantee. The lease commenced June 10, 2012, and has a remaining term of 12.6 years, with 50 one-year options to terminate. The property generates a substantial net operating income (NOI) of $475,000, resulting in a compelling 6.50% cap rate at an asking price of $7,307,692 ($535.36/sq ft). The property enjoys 100% occupancy and benefits from a strong location within a rapidly growing area, exhibiting a 34% population increase within a three-mile radius since its construction. The high average household income of approximately $140,000 further underscores the property's investment potential. This is a rare opportunity to acquire a well-performing, long-term net lease asset backed by a highly reputable national tenant. The property's strong financials, coupled with its prime location and favorable lease terms, make it an attractive addition to any investment portfolio. The reported sales for the store in 2022 were $2.78 million, with an estimated gross sales of $8.67 million. The property is located in a state with income tax-free status and within the 3rd fastest-growing major metro area in the USA. An estimated 150,000 store visits per year further highlight the property's strong performance.

Highlights

  • Fee-simple ownership of a Walgreens Pharmacy (Store #13940) in San Antonio, TX.
  • 13,650 SF building on a 1.58-acre lot, built in 2012. 25.1-year absolute net lease with Walgreens Boots Alliance (WBA), corporate guarantee.
  • Over 13 years remaining lease term; 50 one-year renewal options. $475,000 annual NOI, 6.50% cap rate at $7,307,692 asking price ($535.36/SF).
  • 100% occupancy; strong location with 34% population growth within a three-mile radius since construction. Average household income of ~$140,000.
  • 2022 reported sales of $2.78 million; estimated gross sales of $8.67 million. Located in a state with no income tax, within the 3rd fastest-growing major metro area in the USA. Estimated 150,000 annual store visits.

Property Details for 26482 Us-281

Property type
Retail properties, Drug stores
Square Feet
13,650 SF
Year Built
2012
Buildings
1
Stories
1
Lot Size (sq. ft)
68,825 SF
Units
1

Location Insight

City
San Antonio
County
Bexar
State
Texas
Latitude
29.69243209
Longitude
-98.45179399
26482 Us-281, San Antonio, Texas

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26482 Us-281
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