Walgreens

720 Main Street, Clinton, MA 01510

$8,620,438

Cap Rate 6.85%

Views: 27 DOM: 42 Updated: 04.24.24 Posted: 04.05.24 Status: Active

Summary

Price $8,620,438	Built/Renov 2008	Tenant Walgreens
Cap Rate 6.85%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 14,550	Lease Start 03-16-2009	#Units 8,896
Price/SF $592.47	Expiration 03-31-2034	Tenant Type Pharmacy
NOI $590,500	R. Term 9.10	Ownership Fee Simple
Rent/SF $40.58	Increases 0.0%/0/yrs	Pop 5Mi 35,994
Lot/AC 1.49	Options 50/1yrs	AHHI 5Mi $139,376

Lease Highlights

Walgreens has been operating in this location since 2008
The tenant has 9+ years remaining on the current lease term with 50 (1-year) options to extend
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Main Street and Brook Street, with access to a combined daily traffic count of 20,412 vehicles. The property is situated just half a mile from the UMass Memorial HealthAlliance-Clinton Hospital. Additionally, it is directly across the street from a grocery-anchored shopping center featuring Hannaford Supermarket,...

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Key Features

Signalized intersection
Hard corner intersection
Near major nationals
Hospital close
Top 100 MSA
Affluent AHHI $100K 5 Mi
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia Clinton, Massachusetts Zip Code 01510 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 :	11,789	23,712	36,593
2023 Total Population :	11,681	23,350	35,994
2023 Employed Civilian Pop :	6,376	12,311	18,577
2023 Total Businesses :	386	655	1,189
2023 Average Household Income :	$ 96,353	$ 116,170	$ 139,376
2023 Total Consumer Spending :	$ 411 M	$ 949 M	$ 1701 M
2023 Median Age :	41	43	44
2023 Total Households :	4,935	9,574	14,426
2023 Pop Age 25+: Bachelor's Degree :	2,005	4,924	7,829
2023 Average Home Value :	$ 376,979	$ 441,897	$ 493,905

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Brook Street	Parker St	2022	6,451	0.04 mi
BROOK STREET	Parker St	2021	5,836	0.04 mi
Main Street	Clark St	2018	12,041	0.04 mi
MA 70	Brook St	2022	11,384	0.04 mi
MA 70	Brook St	2021	11,216	0.04 mi
Brook Street	Main St	2022	1,300	0.06 mi
BROOK STREET	Main St	2021	1,301	0.06 mi
Main Street		2019	11,326	0.06 mi
MA 70	Plain St	2021	10,465	0.06 mi
Main Street	Plain St	2022	10,455	0.10 mi

Listing Broker

Tony Anderson

CBRE: NLPG South Bay

Contact

20 Listings
675 Views
1 Sold

Kent Presson

CBRE: NLPG South Bay

Contact

20 Listings
675 Views
1 Sold

Tony Anderson

As a Senior Vice President at CBRE, Tony serves as an advisor for many Corporate Real Estate entities including Developers, Family Offices, Private Equity Sponsors, Founder/Family Owned Companies and Franchisees on their real estate while also raising capital for various projects. He has underwritten and transacted for some of the largest global companies with aggregate deal volume exceeding $1.5 billion in the Retail, Industrial, Medical Office and Special Use spaces.

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Kent Presson

Senior Transaction Manager for the Anderson-Brehaut Net Lease Advisory Group based out of CBRE's South Bay office located in El Segundo, CA.

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Richard Brehaut

CBRE: NLPG South Bay

Contact

20 Listings
675 Views
1 Sold

Richard Brehaut

Richard Brehaut is a Senior Vice President with CBRE’s Net Lease Property Group. Mr. Brehaut’s focus is to advise developers, family offices, private investors, REITs, private equity firms, and franchisees regarding all facets of net-leased properties. Mr. Brehaut specializes in transacting single-tenant and multi-tenant assets, national net-lease portfolios, and structuring sale-leasebacks for some of the largest global companies in the Retail, Industrial, Medical Office and Special Use sector

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