1515 Alexander DrBaytown, TX 77520

For Sale
$4,600,000

High-image drugstore, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional investment opportunity presents a 14,550 square foot Walgreens, built in 2014, situated on a 1.61-acre lot at 1515 N Alexander Dr, Baytown, TX 77520. The property features a drive-thru and benefits from a 20-year net lease (NNN) with approximately 8.2 years remaining, plus 50 one-year renewal options. The lease commenced February 1, 2013, and expires February 1, 2033, providing long-term stability. The property boasts a 7.64% cap rate and a strong NOI of $351,500, with rent bumps included. Located at a signalized intersection in the heart of Baytown, within the Houston MSA, this Walgreens enjoys high visibility and benefits from a dense retail environment. Nearby national tenants include CVS, Chase Bank, Kroger, and many more. The asking price is $4,600,000, translating to $316.15 per square foot. This is a credit-rated, single-tenant property offering minimal landlord responsibilities and significant long-term income potential. The property is 100% occupied.

Highlights

  • Absolute NNN lease; no landlord responsibilities.
  • 2014 Walgreens build-to-suit; drive-thru, high-image prototype.
  • Nine-year lease remaining with five, one-year options.
  • Walgreens is a major national pharmacy chain.
  • High-visibility corner lot at a signalized intersection of Alexander Drive and Ward Road in Baytown.
  • Located in the strong Houston MSA.

Property Details for 1515 Alexander Dr

Property type
Other retail properties, Individual retail properties
Square Feet
14,550 SF
Year Built
2014
Buildings
1
Lot Size (sq. ft)
70,132 SF

Location Insight

City
Baytown
County
Harris
State
Texas
Latitude
29.739536682263
Longitude
-94.954542852981
1515 Alexander Dr, Baytown, Texas

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1515 Alexander Dr
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