2315 Washington StStephenville, TX 76401

Property Details for 2315 Washington St

Year built

2005

Lot size

1.89 AC

Property size (Sq ft)

14,729 SF

Property type

Commercial real estate

APN

R000030392

APU

R000030392

Description

This exceptional investment opportunity presents a single-tenant, net-leased Walgreens pharmacy located at 2315 W Washington St, Stephenville, TX 76401. The 14,729 square foot building, constructed in 2005, sits on a 1.89-acre lot and boasts a strong 8.00% cap rate, generating a net operating income (NOI) of $265,000. The current lease with Walgreens, a credit-rated tenant with a corporate guarantee, expires July 31, 2030, offering a remaining term of 5.7 years with a 10 x 5 year lease extension option available at a modest rent reduction. The property benefits from a low rent of $18 per square foot and is strategically positioned in a high-traffic retail corridor with over 19,000 vehicles per day on Highway 377. This prime location is further enhanced by its proximity to a signalized intersection and neighboring national retailers including Walmart, Chick-fil-A, McDonald's, Starbucks, CVS, Taco Bell, T.J. Maxx, Hobby Lobby, and Ross Dress for Less. The asking price is $3,315,000, representing a price per square foot of $225.07. This is a compelling investment opportunity in tax-free Texas, offering a stable income stream and significant long-term potential. The property is a single-story building.

Location Insight

City

Stephenville

County

Erath

State

Texas

Latitude

32.2079

Longitude

-98.2305

CBSA code

44500

CBSA name

STEPHENVILLE, TX MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].