This exceptional investment opportunity presents a 13,650-square-foot Walgreens located in The Colony, Texas, within the high-growth Dallas-Fort Worth metroplex. The property sits on a 1.8-acre lot with 75 parking spaces and boasts a prominent location at the signalized intersection of Paige Road and State Highway 121, benefiting from high traffic volume. The Walgreens operates under a triple-net (NNN) lease with a credit-rated tenant, providing a secure and predictable income stream. The lease commenced in November 2023 and has approximately 14 years remaining, with built-in 5% rent increases every five years and twelve 5-year renewal options. The property's strong financial performance is reflected in its 5.85% cap rate and a substantial net operating income (NOI) of $354,900. Built in 2002, this single-tenant property benefits from its proximity to major roadways, including the Sam Rayburn Tollway, and is surrounded by a thriving commercial area, including numerous hotels, restaurants, and retail establishments, such as Home Depot and Wendy's. The property is also conveniently located near the expansive Grandscape retail and entertainment development. This presents a compelling investment opportunity with significant long-term growth potential within a dynamic and rapidly expanding market. The asking price is $6,066,667, translating to $444.44 per square foot. The property's location within the Dallas-Fort Worth MSA, a major economic hub with a large and educated workforce, further enhances its investment appeal.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$2,859,300
6.5%
$2,639,360
7%
$2,450,830
Comparable approach
Method
Valuation
Relative Method
$1,663,780
Geo Method
$1,658,970
Alternative Use
Use
Valuation
Industrial / Distribution
$5,235,240
Retail / Commercial
$2,676,980
Mixed-Use / Specialty
$2,661,430
Hospitality / Lodging
$1,944,780
Office
$2,639,360
Institutional / Educational
$2,764,660
Residential Income
$3,234,660
Multifamily
$3,912,790
Automotive / Energy
$2,369,710
Parking / Income-Based Land
$823,696
Restaurant / Food Service
$1,371,400
Healthcare / Senior Housing
$2,735,410
Location Insight
City
The Colony
County
Denton
State
Texas
Latitude
33.0727
Longitude
-96.8771
CBSA code
19100
CBSA name
DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
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State Highway 121 The Colony, TX 75056
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State Highway 121 The Colony, TX 75056
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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