Walgreens

4926 Cane Run Road, Louisville, KY 40216

$3,705,000

Cap Rate 6.00%

Views: 34 DOM: 120 Updated: 04.22.24 Posted: 01.18.24 Status: Active

Summary

Price $3,705,000	Built/Renov 2009	Tenant Walgreens
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 14,820	Lease Start 11-21-2023	#Units 8,896
Price/SF $250.00	Expiration 11-30-2038	Tenant Type Pharmacy
NOI $222,300	R. Term 14.6	Ownership Fee Simple
Rent/SF $15.00	Increases 5.0%/4/yrs	Pop 5Mi 133,307
Lot/AC 2.23	Options 12/5yrs/5%	AHHI 5Mi $67,807

Lease Highlights

Walgreens recently executed a brand-new 15-year lease with 12 (5-year) options to extend
Lease features 5% rental increases every 5 years throughout the initial term and at the start of each option period
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Walgreens is strategically located at the hard corner intersection of Terry Road and Cane Run Road, benefiting from a substantial combined daily traffic count of 48,242 vehicles. Located less than 3 miles southwest of Interstate 264 (51,998 VPD), the site enjoys convenient accessibility. Adjacent to the property are Cane Run Station Apartments and Lions Arms Apartments. Furthermore, the...

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Key Features

Signalized intersection
Near major nationals
Strategically located
Dense 100M+ pop 5 mi
Top 100 MSA
Brand new lease
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia Louisville, Kentucky Zip Code 40216 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walgreens
Guarantor:Corp T and Rated
Company:Walgreens Boots Alliance
# Units:8,896
Tenant S&P: BBB-
Moody’s: Baa2
Stock: NASDAQ: WBA

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	7,162	53,226	133,176
2023 Total Population :	7,136	53,345	133,307
2023 Employed Civilian Pop :	3,129	25,749	63,702
2023 Total Businesses :	113	1,270	2,984
2023 Average Household Income :	$ 64,630	$ 66,816	$ 67,807
2023 Total Consumer Spending :	$ 160 M	$ 1291 M	$ 3207 M
2023 Median Age :	40	40	40
2023 Total Households :	2,850	22,156	54,129
2023 Pop Age 25+: Bachelor's Degree :	525	4,682	11,292
2023 Average Home Value :	$ 200,982	$ 215,405	$ 225,908

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Cane Run Rd	Greenbelt Hwy	2012	21,900	0.05 mi
Terry Rd	Cane Run Rd	2012	10,500	0.10 mi
Cane Run Rd	Terry Rd	2012	31,900	0.11 mi
Cane Run Rd	Greenbelt Hwy	2014	123	0.15 mi
Cane Run Road	Greenbelt Hwy	2018	4,230	0.21 mi
Cane Run Rd	Bridwell Dr	2010	27,690	0.21 mi
Bridwell Dr	Kaufman Ln	2010	1,320	0.22 mi
Terry Rd	la Vel Ln	2010	11,694	0.22 mi
Greenbelt Hwy	Bridge Ave	2012	22,000	0.25 mi
Bridwell Dr	Cane Run Rd	2010	520	0.33 mi

Listing Broker

Chris Bosworth

CBRE

Contact

121 Listings
5961 Views
43 Sold

Brian Pfohl

CBRE: NLP Atlanta

Contact

122 Listings
6003 Views
41 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLP Atlanta

Contact

125 Listings
6080 Views
44 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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