1210 Business Interstate HwyNew Braunfels, TX 78130

For Sale
$5,475,000

Texas Retail Property: Strong ROI

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 14,820-square-foot Walgreens located at 1210 N Business Interstate Hwy 35, New Braunfels, TX 78130. The property sits on a 1.97-acre lot in a high-traffic area, boasting over 40,000 vehicles per day on N Business Interstate Highway 35 and over 112,339 vehicles daily on nearby Interstate 35. This prime location benefits from its proximity to major retailers such as The Home Depot, Taco Bell, Olive Garden, and more, ensuring consistent customer traffic. The Walgreens is also less than three miles from Resolute Baptist Hospital and near Comal Independent School District, serving over 4,000 students. A new 15.1-year absolute NNN lease commenced September 1, 2024, and expires September 30, 2039, with twelve 5-year renewal options. The lease includes a corporate guarantee from Walgreens (NASDAQ:WBA) and features 5% rent increases every five years in the initial term and options. The current asking price is $5,475,000, yielding a 6.50% cap rate and a net operating income (NOI) of $355,860. The tenant is currently undertaking over $400,000 in improvements, including a new roof, exterior repainting, parking lot restripes, landscaping refresh, LED lighting upgrades, and sign panel replacement. This property offers a secure, passive income stream in a rapidly growing area with a projected 16% population increase within five years. The below-market rent of $24 per square foot further enhances the investment potential. This is a rare opportunity to acquire a high-performing, well-located Walgreens with a long-term lease and significant upside potential.

Highlights

  • 14,820 SF Walgreens on a 1.97-acre lot with a new 15-year absolute NNN lease.
  • Tenant (Walgreens, NASDAQ:WBA) is investing over $400,000 in improvements including roof replacement, exterior painting, parking lot restripes, landscaping, LED lighting, and sign panel replacement.
  • Below-market rent of $24 per square foot.
  • Corporate guarantee from Walgreens (NASDAQ:WBA).
  • Strong demographics with a projected 16% population increase in five years.
  • High-traffic location with over 40,000 vehicles per day on N Business I-35 and over 112,339 VPD on nearby I-35.

Property Details for 1210 Business Interstate Hwy

Property type
Other retail properties, Individual retail properties
Square Feet
14,820 SF
Lot Size (sq. ft)
85,813 SF

Location Insight

City
New Braunfels
County
Comal
State
Texas
Latitude
29.7023464
Longitude
-98.0953892
1210 Business Interstate Hwy, New Braunfels, Texas

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1210 Business Interstate Hwy
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