WAGS - Corinth, TX_Property for Sale
WAGS - Corinth, TX_Property for Sale
4001 FM 2181, Corinth, TX, 76210, US

WAGS - Corinth, TX

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the fee-simple interest in a Walgreens located at 4001 FM 2181 in Corinth, TX (the “Property” or “Asset”). The absolute NNN lease has 15 years remaining in the base term with ten (10), five-year renewal options at a fixed rate. The property sits on a large 1.93-acre parcel in a top retail / medical corridor in the city.


The Property is located in Corinth, a northwestern suburb in the Dallas-Fort Worth MSA. With a population of 1.3M+ residents living in Dallas, which is only 20 miles south of Corinth, and 7.6M+ residents living within the Dallas-Fort Worth MSA, this region is one of the most populated markets in the country. Corinth benefits from the surge in activity and demand in tax free Texas. The area boasts an average household income of over $141,000, which is well over the national average, and 24.8% population growth over the past decade within a five-mile radius of the Asset.


Situated off the Teasley Drive exit along Interstate 35E (also known as South Interstate Freeway), the Property has direct access to over 98,500 vehicles per day. The Property is located along the dense retail corridor of Teasley Road – home to numerous national retailers such as Walmart Supercenter, Starbucks, ALDI, Burger King, Wells Fargo, Chipotle, Panda Express, Chick-Fil-A, and Chase Bank. The property is within the academic area of the neighboring city, Lake Dallas. Within less than a two-mile drive from the property, there are three school systems (Lake Dallas Elementary, Middle, and High School) with over 2,800 students enrolled.

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Attributes

Asking Price
HK$47,084,000
Building area Gross
13,650 sf
Occupancy
100.00%
Year built
2003
Cap Rate
5.50%
NOI
HK$2,590,000

Media

Investment Highlights

  • Investment-grade tenant (S&P: BBB)
  • Brand-new, 15-year Absolute NNN lease with no landlord obligations & 10, 5-year renewal options
  • 126,367 residents and 25% population growth since 2010 within 5-mile radius of the Asset
  • Average household income of $141,854 within 5-mile radius of the Asset
  • Large, corner site at Teasley Dr & S Garrison Rd (26,300 VPD)
  • Direct exposure to 98,500 VPD via the I-35 exit one block from the Asset
  • Surrounded by 842K+ SF of retail space, including Walmart Supercenter, Starbucks, Chipotle, Chick-Fil-A, & Chase Bank
  • 2 miles from Lake Dallas Elementary, Middle, &High School with 2,800 students enrolled
WAGS - Corinth, TX 4_Property for Sale
WAGS - Corinth, TX 4_Property for Sale

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WAGS - Corinth, TX (0 Properties)

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Last updated
6 Jun 2023