7151 Boulevard 26North Richland Hills, TX 76180

Property Details for 7151 Boulevard 26

Year built

1997

Lot size

1.86 AC

Property size (Sq ft)

14,080 SF

Property type

Drug stores

APN

30170-4-8

APU

3017048

Description

This exceptional investment opportunity presents a fee-simple, single-tenant Walgreens located in North Richland Hills, Texas, within the Dallas-Fort Worth MSA. The property features a 14,080 square foot building on a 2.15-acre lot, offering significant redevelopment potential. The Walgreens lease, a double net (NN) agreement, has a remaining term of 2.5 years, expiring May 30, 2027, with eight 5-year lease options. The property boasts a 9.25% cap rate and a strong net operating income (NOI) of $281,576 annually. Built in 1999, this Class A retail property enjoys 100% occupancy since its commencement date of May 14, 2002. The site includes 68 parking spaces and benefits from a high-traffic location at a three-way intersection with over 31,000 vehicles passing daily. Surrounding national retailers include Kroger, CVS, Dollar General, and more. The property's strategic location within 13 miles of DFW International Airport and a dense population area with high average household incomes makes this a compelling investment. The 2.15-acre parcel provides flexibility for future development. This is a passive income opportunity with limited landlord responsibilities. The property is situated at 7151 Blvd 26, North Richland Hills, TX 76180.

• CAP approach

  CAP return

  Valuation

  6%

  $3,103,869

  6.5%

  $2,865,110

  7%

  $2,660,459

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,960,582

  Geo Method

  $10,622,836

• Alternative Use

  Use

  Valuation

  Residential

  $2,416,828

  Hospitality

  $2,213,801

  Educational

  $1,841,856

  Medical

  $1,905,201

  Retail

  $2,865,110

Location Insight

City

North Richland Hills

County

Tarrant

State

Texas

Latitude

32.8244

Longitude

-97.2284

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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