Walgreens

3317 Montrose Blvd, Houston, TX
Deal Type:
Net Lease
Price:
$11,984,210
Cap Rate:
4.75%
Current Rent:
$569,250
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 15 years
Renewal Options:
12, 5-Year
Building Sq. Ft.:
17,250 SF
Rent Increases:
5% Every 5 Years, including options
Site Size:
2.39 Acres
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners

Investment Highlights

  • Commitment: Brand new 15-year lease with 5% rental escalations throughout the initial term and options
  • Location: Asset situated at the intersection of Montrose Boulevard and Lovett Boulevard with over 32,000 vehicles per day
  • Landlord Responsibilities: Allows for a true passive investment with no management required
  • Tax Benefits: Investors can depreciate land and building due to fee simple ownership. No state income tax
  • Demographics: Over 179,000 residents and average household incomes of $154,000 within a 3-mile radius
  • Credit: Opportunity to acquire an investment grade (S&P: BBB) trophy asset in a tax-free state
  • Store Sales: This location grosses $7 million in revenue

Listing Agents

Adam Baxter

Vice President
205 394 3520
Abaxter@stream-cp.com

Jordan Williams

Senior Associate
205 209 5671
Jwilliams@stream-cp.com

Jordan Shtulman

Managing Principal
847 226 4133
Jordan@stream-cp.com

Kyler Bean, Lic. #646910

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