Price: $7,276,500
Cap Rate: 4.50%
Net Operating Income: $327,443
Square Footage: 14,850
Lot Size: 2.04 AC
Year Built: 1993

The subject property is a net leased Walgreens in San Antonio, Texas. The new 15 year absolute NNN lease calls for zero landlord obligations. The tenant has twelve, 5 year options to renew with rare 5% increases every 5 years and at each option period. The property is well-situated on a major retail corridor surrounded by national retailers including H-E-B, Big Lots, Cicis, McDonald’s, and many others. This location is heavily trafficked and there are 32,767 VPD along San Pedro Avenue.

San Antonio is the seventh-most populous city in the United States, and the second-most populous city in both Texas and the Southern United States, with more than 1.5 million residents. The U.S. Armed Forces have numerous facilities in and around San Antonio; Fort Sam Houston is the only one within the city limits. Lackland Air Force Base, Randolph Air Force Base, Lackland AFB/Kelly Field Annex, Camp Bullis, and Camp Stanley are outside the city limits. Kelly Air Force Base operated out of San Antonio until 2001, when the airfield was transferred to Lackland AFB. The remaining parts of the base were developed as Port San Antonio, an industrial/business park and aerospace complex. San Antonio is home to six Fortune 500 companies and the South Texas Medical Center, the only medical research and care provider in the South Texas region.