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Walgreens w/Drive-Thru/Hard Corner/Long Lease

$2,500,000

3124 Line Ave, Shreveport, LA 71104

Active
Last Updated: 07/23/2026

8

Cap Rate

200,000

NOI

Details:
Cap Rate:    8%
NOI:    $200,000
Building Size:    15,120 sqft
Lot Area:    1.4668 acres
Occupancy:    100%
Year Built:    2000
Floors:    1
Highlights:
  • Walgreens - Corporate Guaranteed Lease / Over $150B in Annual Revenue
  • Passive management - single tenant triple net NNN investment with drive-thru / Long Term Lease
  • Prime signalized hard corner location / Across street from High School
  • High yield single tenant net lease investment (8%)
  • Long term operating history with recent extension
  • Well below replacement cost - under $165/SF / Below Market Rent
Description:

Louisiana Broker of Record: Gerard E. Henry / License No.: LA. 34885-A
Faris Lee Investments is pleased to present the opportunity to acquire a single-tenant, fee simple NNN-leased Walgreens prominently located at the signalized hard corner of Line Avenue and Kings Highway in Shreveport, Louisiana. The Property is leased to Walgreens and is corporately guaranteed by Walgreen Co., providing investors with the strength of a nationally recognized tenant. The true single-tenant triple-net (NNN) lease offers a passive ownership structure, with the tenant responsible for substantially all operating expenses, including taxes, insurance, maintenance, repairs, HVAC, parking lot, and landscaping. Offered at an attractive 8.00% return and less than $165 per square foot, well below estimated replacement cost, the Property provides meaningful downside protection through its intrinsic real estate value, existing drive-thru, and fee simple ownership. Walgreens has operated at this location since 2000 and recently executed a new 10-year lease extension, with the lease extending through 2060, subject to tenant termination options every five years beginning November 30, 2025.

Walgreens is one of the nation’s largest retail pharmacy operators, generating more than $155 billion in annual revenue, serving approximately 9 million customers daily, and operating more than 8,000 stores nationwide. As the second-largest retail pharmacy chain in the United States, Walgreens benefits from recurring demand generated by its essential healthcare and pharmacy services. Backed by more than 125 years of operating history and a nationally recognized brand, Walgreens offers investors the stability of a proven operator with an established record of long-term performance.


Strategically positioned at the intersection of Line Avenue and Kings Highway, which carries more than 27,000 vehicles per day, the Property benefits from exceptional visibility, convenient access, and frontage along two established commercial corridors. Located directly across from C.E. Byrd High School, with more than 1,500 students, the site experiences consistent daily traffic. Shreveport, Louisiana’s third-largest metropolitan area, is supported by a diverse economy anchored by Barksdale Air Force Base, Willis-Knighton Health System, Ochsner LSU Health Shreveport, manufacturing, logistics, education, and professional services. Positioned within a day’s drive of approximately 86 million consumers and home to the Port of Caddo-Bossier and a major Amazon Fulfillment Center, the city provides a stable economic foundation that supports long-term commercial activity and real estate value.

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