510 Alamo RdAlamo, TX 78516

Property Details for 510 Alamo Rd

Year built

2009

Lot size

1.39 AC

Property size (Sq ft)

14,336 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a 14,336 square foot Walgreens conveniently located at 510 N Alamo Rd, Alamo, TX 78516. Boasting a 100% occupancy rate with a corporate guarantee from Walgreens (NASDAQ: WBA), this single-tenant NNN lease offers significant long-term stability. The property features a 14-year remaining lease term with built-in rent increases, ensuring consistent cash flow. The property sits on a 1.39-acre lot and was constructed in 2009. With a Net Operating Income (NOI) of $298,275 and an attractive 5.85% cap rate, this asset represents a compelling addition to any portfolio. The property benefits from a prime location on a signalized corner with high visibility and traffic counts (22,468 vehicles per day directly accessible and visible to 90,943 VPD from I-2). The surrounding area features a robust retail environment with national brands such as HEB, Walmart, and Whataburger, further enhancing the property's value. Strong demographics, including a dense population of 170,025 within a 5-mile radius and proximity to a major travel corridor (McAllen and Brownsville MSA attracting over 16 million visitors annually), contribute to the property's exceptional potential. This is a tax-free state investment. The asking price is $5,100,000.

Location Insight

City

Alamo

County

Hidalgo

State

Texas

Latitude

26.1891

Longitude

-98.1216

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