Walgreens

Walgreens – Round Rock, TX (Austin MSA)

This Walgreens Pharmacy in Round Rock, Texas represents a high-credit, single-tenant, absolute triple-net (NNN) lease investment anchored by Walgreens Boots Alliance, a Fortune 500 company and one of the largest pharmacy operators in the country. Located within the highly desirable Austin MSA—one of the fastest-growing metropolitan areas in the United States—this property combines passive ownership, strong credit backing, and superior real estate fundamentals to deliver a stable, long-term income opportunity.

Situated in a strategic retail corridor with exceptional visibility, strong traffic counts, and robust surrounding demographics, this Walgreens location serves as a critical healthcare and retail destination in a growing suburban market. As part of the Greater Austin area, Round Rock continues to attract residential development, corporate expansion, and infrastructure investment—supporting long-term demand for essential services like prescription fulfillment, immunizations, and wellness care.

Tenant Overview – Walgreens Boots Alliance

Walgreens, a subsidiary of Walgreens Boots Alliance (NASDAQ: WBA), operates over 8,000 stores nationwide and has been a trusted name in retail pharmacy for over a century. The company is a leading provider of prescription services, immunizations, and healthcare essentials, offering convenient access to millions of Americans daily.

In recent years, Walgreens has expanded its healthcare offerings through partnerships with primary care providers, telemedicine platforms, and in-store clinic integrations. Its national initiative with VillageMD to co-locate primary care services within Walgreens locations further strengthens its role in community-based care.

As a net lease tenant, Walgreens is known for its strong store-level performance, lease longevity, and creditworthiness. The company has demonstrated a long-term commitment to its locations, making it one of the most desirable tenants in the single-tenant retail investment space.

Lease Structure – Absolute Triple-Net (NNN)

This Walgreens property in Round Rock, TX is subject to an absolute triple-net lease. Under this lease structure, the tenant is fully responsible for all operating expenses, including property taxes, insurance, maintenance, repairs, and capital expenditures. This structure provides investors with a completely passive ownership experience and a dependable stream of income.

Key lease features:

• Absolute NNN lease with zero landlord responsibilities
• Corporate-backed lease guaranteed by Walgreens Boots Alliance
• Long initial term with renewal options
• Rental escalations providing inflation protection
• Ideal for 1031 exchange, long-term hold, or estate planning

This lease structure is favored by investors seeking predictable income, hands-off management, and long-term security in essential-use assets.

Round Rock, TX Market Overview – Austin MSA

Round Rock is a thriving suburb located just 20 miles north of downtown Austin and is part of the Greater Austin Metropolitan Statistical Area (MSA). The city is nationally recognized for its quality of life, business-friendly environment, and robust population growth. Major employers in the area include Dell Technologies (headquartered in Round Rock), Amazon, Apple, Tesla, and Ascension Seton, contributing to a strong economic foundation and employment base.

Austin is consistently ranked among the top metros in the country for job growth, innovation, and in-migration. The area attracts young professionals, families, and retirees alike due to its strong school districts, cultural amenities, and high quality of life. Round Rock benefits from this regional momentum while offering affordability, access to major highways (I-35, SH-45), and close proximity to major employers and healthcare facilities.

This Walgreens location benefits from strong daily traffic, dense residential development, and high regional growth—all essential drivers for pharmacy and wellness-related demand.

Demographics and Economic Drivers

The property is supported by strong local demographics and economic fundamentals:

• Over 120,000 residents within a 5-mile radius
• Steady annual population growth with continued housing development
• Median household income levels well above national averages
• High homeownership rates and growing suburban demand
• Proximity to major tech campuses and medical facilities
• Expanding healthcare needs driven by aging population and new families

Round Rock’s demographic trends are expected to remain favorable for decades, driven by ongoing economic diversification, infrastructure projects, and a growing emphasis on accessible healthcare services—all of which support long-term success for this Walgreens location.

Retail Corridor and Site Features

The Walgreens site in Round Rock is situated on a high-visibility retail corridor, either at a signalized intersection or within a major shopping hub. The location includes a drive-thru pharmacy lane, ample parking, and excellent ingress/egress, all of which support strong consumer convenience and consistent daily traffic.

Key site advantages:

• High traffic counts and regional commuter visibility
• Surrounded by national tenants including grocery, QSR, banking, and service retailers
• Proximity to schools, residential neighborhoods, and medical offices
• Drive-thru capability supporting high prescription volume and customer retention
• Strong signage and accessibility for pedestrian and vehicular traffic

Retail properties located in affluent, growing suburbs with essential-use functionality are highly resilient and tend to outperform in both economic upcycles and downturns.

Corporate Credit Strength – Walgreens Boots Alliance

Walgreens Boots Alliance is one of the strongest tenants in the STNL (single-tenant net lease) market. The company’s combination of credit strength, brand recognition, and essential-service designation make it a cornerstone tenant in commercial real estate portfolios.

Key financial and operational metrics:

• Publicly traded (NASDAQ: WBA)
• S&P credit rating: BBB (investment grade)
• Over $130 billion in annual revenue
• Significant market share in retail pharmacy sector
• High site retention and lease renewal rates
• Continuous evolution toward healthcare integration

As an investment-grade tenant with proven performance and long-term viability, Walgreens provides a secure income stream for investors focused on asset preservation and dependable yield.

Investment Highlights

• Single-tenant Walgreens with absolute NNN lease and no landlord obligations
• Corporate guarantee from Walgreens Boots Alliance – investment-grade credit
• Located in Round Rock, TX – a high-growth suburb of the Austin MSA
• Dense population, strong household incomes, and job creation
• Prime retail positioning on a major thoroughfare with strong visibility and traffic
• Drive-thru pharmacy and ample parking
• Rental escalations and long lease term offering stability and inflation protection
• Ideal for passive investors, 1031 exchange buyers, and institutional capital
• Recession-resistant asset with essential healthcare and convenience use

Conclusion

This Walgreens Pharmacy in Round Rock, Texas is a rare offering that checks all the boxes for long-term net lease investors. With a passive, absolute NNN lease structure, a corporate-backed investment-grade tenant, and location in one of the nation’s top-performing metro areas, the asset offers immediate income stability and long-term portfolio value.

As healthcare delivery continues to decentralize and demand for convenient pharmacy access grows, properties like this—backed by national credit tenants in high-growth suburbs—offer investors a secure, income-producing solution with virtually no operational responsibilities.

Whether you’re completing a 1031 exchange, diversifying your investment portfolio, or seeking a stable long-term hold, this Walgreens in Round Rock delivers the quality, security, and growth fundamentals sophisticated investors demand.