CAP Rate: 6.60%
Lot Size: 1.14 AC
This offering is for the 100% fee simple interest in the land and building. The property is leased to Walgreens under a long term net lease with 7 years remaining. The lease calls for minimal landlord obligations. The property benefits from its location on a highly trafficked thoroughfare in a thriving market. The asset is surrounded by national retailers including Walmart, The Home Depot and AutoZone The asset also benefits from its location at a signalized hard corner with excellent visibility.
Beaumont, Texas lies 90 miles east of Houston and sits within the Beaumont-Port Arthur MSA (Population: 408,419). The property is well located with excellent access and excellent visibility.
Beaumont is located in Jefferson County, Texas. Beaumont is just a one-hour drive east of Houston. Beaumont has transformed into one of the most major refinery hubs in the country. The city also has a strong healthcare sector.
Among the city’s top employers are Cai, LP, Exxon Mobil, Christus St. Elizabeth Hospital, Baptists Hospital of Southeast Texas and Memorial Hermann Baptist Hospital.