Walgreens

5 Garland Lane, Greenville, NY 12083

$3,300,000

Cap Rate 6.68%

Views: 41 DOM: 114 Updated: 04.22.24 Posted: 01.23.24 Status: Active

Summary

Price $3,300,000	Built/Renov 2005	Tenant Walgreens
Cap Rate 6.68%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 9,780	Lease Start 05-11-2005	#Units 8,896
Price/SF $337.42	Expiration 05-31-2030	Tenant Type Pharmacy
NOI $220,440	R. Term 6.0	Ownership Fee Simple
Rent/SF $22.54	Increases 8.0%/6/yrs	Pop 5Mi 5,875
Lot/AC 1.09	Options 6/5yrs/8%	AHHI 5Mi $84,796

Lease Highlights

Walgreens has been operating in this location since 2005
The tenant has 6+ years remaining on the current lease term with 6 (5-year) options to extend
Lease features 8% 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 on Garland Lane, with access to 7,000 vehicles passing by daily. The property is situated in a prime retail corridor, surrounded by prominent national tenants such as Tractor Supply Co, Dunkin' Donuts, Mavis Discount Tire, Benjamin Moore, and Dollar General. Additionally, the site is only 5 miles away from Sunny Hill Resort & Golf Course, recognized as one of...

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Key Features

In location for years
Near major nationals
Highway location
Top 100 MSA
Affluent suburb location
Long operation history
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia Greenville, New York Zip Code 12083 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 :	635	2,746	5,794
2023 Total Population :	648	2,743	5,778
2023 Employed Civilian Pop :	340	1,452	2,947
2023 Total Businesses :	67	124	179
2023 Average Household Income :	$ 86,687	$ 97,710	$ 103,169
2023 Total Consumer Spending :	$ 24 M	$ 97 M	$ 219 M
2023 Median Age :	47	47	47
2023 Total Households :	326	1,153	2,462
2023 Pop Age 25+: Bachelor's Degree :	86	314	625
2023 Average Home Value :	$ 288,645	$ 299,033	$ 293,580

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
State Highway 32	Hill St	2021	7,482	0.03 mi
State Hwy 81	Hwy 32	2006	3,950	0.77 mi
State Highway 32	Jenning Rd	2021	4,152	0.95 mi
Co Rd 26	Turon Rd	2003	1,241	0.98 mi
State Hwy 32	Co Rd 405	2000	4,000	1.20 mi
County Route 405	Jenning Rd	2021	2,253	1.31 mi
County Route 403	Co Rd 405	2021	704	1.58 mi
NY 81	North Rd	2021	3,031	1.67 mi
CR 35	Red Mill Rd	2021	334	2.63 mi
County Route 405	North Rd	2021	675	2.96 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

162 Listings
6479 Views
73 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

163 Listings
6547 Views
74 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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