7929 Kirby DrHouston, TX 77054

For Sale
$7,250,000

High-traffic, corporate-guaranteed retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fee-simple interest in a 14,820-square-foot Walgreens (+ Village MD) located at 7929 Kirby Dr, Houston, TX 77054. The property sits on a 1.29-acre lot at a prominent, signalized intersection boasting over 61,800 vehicles per day. This single-tenant, net-lease property benefits from a strong corporate guarantee and a remaining lease term of 7.9 years, with 50 one-year renewal options. The lease commenced October 1, 2007, and expires October 31, 2032. The property's strategic location is two blocks north of NRG Stadium (home of the Houston Texans), approximately one mile southwest of the Texas Medical Center, and about six miles southwest of Downtown Houston. This high-traffic area provides access to over 147,000 residents within a three-mile radius, with an average household income of $146,000. The Walgreens location has demonstrated strong performance, with reported annual store sales of $2.78 million and estimated total annual sales of approximately $10 million. Built in 2007, the property offers a 6.50% cap rate, a net operating income (NOI) of $471,000, and a price per square foot of $489.20. The asking price for this exceptional retail investment is $7,250,000. The property's high visibility and strong tenant history make it an attractive addition to any portfolio.

Highlights

  • Prime commercial location adjacent to NRG Stadium (Houston Texans).
  • Proximity to Texas Medical Center.
  • Excellent sales performance.
  • Strong corporate guarantee with 8.1 years remaining.
  • Densely populated trade area with $146,000 average household income and 147,000 residents within 3 miles.
  • High-traffic corner location, exceeding 61,800 vehicles per day.

Property Details for 7929 Kirby Dr

Property type
Other retail properties, Individual retail properties
Square Feet
14,820 SF
Year Built
2007
Lot Size (sq. ft)
56,192 SF

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.693106458506
Longitude
-95.412933669659
7929 Kirby Dr, Houston, Texas

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7929 Kirby Dr
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