3018 7Th StBay City, TX 77414

Property Details for 3018 7Th St

Year built

2005

Lot size

1.59 AC

Property size (Sq ft)

14,388 SF

Property type

Commercial real estate

APN

43692

APU

43692

Description

This exceptional investment opportunity presents a 14,550 square foot Walgreens located at 3018 7th St, Bay City, TX 77414. The property boasts a 13-year absolute triple-net (NNN) lease with Walgreens, commencing September 1, 2022, and expiring August 31, 2035, leaving 10.8 years remaining. The lease includes twelve, 5-year renewal options, ensuring long-term stability. The current asking price is $3,805,385, translating to a price per square foot of $261.54 and a compelling 6.50% cap rate, with a current NOI of $247,350. The lease features scheduled rental increases every five years, providing consistent income growth. This fee-simple interest property sits on a 1.66-acre lot at a signalized intersection, offering excellent visibility and accessibility. The location benefits from its position in a dense residential area and proximity to other major retailers such as H-E-B, Starbucks, and Family Dollar. The property is situated in a major retail trade area and enjoys a highly trafficked location. This is a rare opportunity to acquire a low-maintenance, high-return investment in a strong, income-tax-free state. The property offers zero landlord obligations, providing a passive income stream with built-in growth potential.

• Alternative Use

  Use

  Valuation

  Residential

  $4,055,478

  Hospitality

  $3,714,796

  Educational

  $3,090,666

  Medical

  $3,196,959

  Retail

  $4,807,703

Location Insight

City

Bay City

County

Matagorda

State

Texas

Latitude

28.9828

Longitude

-95.9538

CBSA code

13060

CBSA name

BAY CITY, TX MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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