12959 Aldine Westfield RdHouston, TX 77039

For Sale
$2,688,000

High-yield Walgreens investment, strong tenant.

Overview

Added:
Feb 11
Days on market:
32
This exceptional investment opportunity presents a 14,800-square-foot Walgreens, situated on a 1.39-acre lot in Houston, Texas, at 12959 Aldine Westfield Rd, 77039. The property boasts a prominent location on a signalized hard corner with combined daily traffic exceeding 27,110 vehicles. This absolute NNN net lease features a corporate guarantee from Walgreens, providing exceptional security. The current lease, commencing June 1, 2004, and expiring May 31, 2029, has 4.3 years remaining, with ten 5-year renewal options. The property generates a substantial NOI of $215,000, representing an attractive 8.00% cap rate and a price per square foot of $181.62. Built in 2004, this single-tenant building benefits from ample parking and multiple access points. The property's strategic location is further enhanced by its proximity to major roadways, including the Hardy Toll Road (60,500 VPD), and a dense population base of over 267,436 residents within a five-mile radius. The tenant recently completed renovations at their own expense, demonstrating their commitment to the location. This offering provides a compelling combination of strong tenant credit, long-term lease stability, and a high-yield return on investment. The property is ideally suited for investors seeking a secure, passive income stream in a thriving Houston market.

Highlights

  • $2,688,000 asking price for a 14,800 square foot Walgreens.
  • Absolute NNN net lease with corporate guarantee.
  • 4.3 years remaining on a 25-year lease with ten, 5-year options.
  • 8.00% cap rate with a $215,000 NOI.
  • Located on a signalized hard corner with high traffic counts.
  • Situated on a 1.39-acre lot with ample parking.

Property Details for 12959 Aldine Westfield Rd

Property type
Other retail properties, Individual retail properties
Square Feet
14,800 SF
Year Built
2004
Lot Size (sq. ft)
60,548 SF
Units
1

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.902115417664
Longitude
-95.355450455213
12959 Aldine Westfield Rd, Houston, Texas

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12959 Aldine Westfield Rd
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