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Views: 23 DOM: 34 Updated: 05.05.24 Posted: 04.13.24 Status: Active

Summary

Price $5,634,160
Built/Renov 2009
Tenant Walgreens
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,820
Lease Start 01-19-2009
#Units 13,532
Price/SF $380.17
Expiration 01-31-2034
Tenant Type Pharmacy
NOI $352,135
R. Term 9.8
Ownership Fee Simple
Rent/SF $23.76
Increases 0.0%/0/yrs
Pop 5Mi 52,899
Lot/AC 1.29
Options 10/5yrs
AHHI 5Mi $83,930

Lease Highlights

  • Walgreens has been operating in this location since 2009
  • The tenant has 9+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located on North Navarro Street, with access to 43,380 vehicles passing by daily. The property is situated on an out lot within Victoria’s Retail Village, anchored by Kohl’s and Academy Sports + Outdoors. Moreover, the surrounding area boasts a dense cluster of national retailers, including Lowe’s Home Improvement, Sam’s Club, Walmart, and more. Additionally, it is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Walgreens
  • Guarantor:Corp T and Rated
  • Company:Walgreens Boots Alliance
  • # Units:13,532
  • 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 : 5,393 24,135 53,027
2023 Total Population : 5,419 23,979 52,899
2023 Employed Civilian Pop : 2,784 11,766 25,145
2023 Total Businesses : 289 948 2,161
2023 Average Household Income : $ 89,093 $ 95,963 $ 83,930
2023 Total Consumer Spending : $ 170 M $ 787 M $ 1514 M
2023 Median Age : 42 40 38
2023 Total Households : 2,225 9,579 20,905
2023 Pop Age 25+: Bachelor's Degree : 902 3,226 6,256
2023 Average Home Value : $ 221,276 $ 251,257 $ 239,401
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Glascow Street Cannon Rd 2022 8,604 0.27 mi
US 77 Glascow St 2022 34,100 0.35 mi
North Navarro Street Bellevue St 2022 15,476 0.48 mi
US 77 Hathaway St 2021 28,000 0.92 mi
US 77 Hathaway St 2022 37,704 0.92 mi
Northside Road US Hwy 77 2022 3,042 0.97 mi
Northeast Zac Lentz Parkway N Navarro St 2022 13,530 1.02 mi
Edinburgh Street Mallette St 2022 607 1.05 mi
Mallette Street Vis Cove 2022 3,578 1.05 mi
Zac Lentz Parkway N Navarro St 2018 34,079 1.06 mi

Listing Broker

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