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Views: 21 DOM: 23 Updated: 04.24.24 Posted: 04.24.24 Status: Active

Summary

Price $5,770,600
Built/Renov 2013
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 11,308
Lease Start 12-27-2013
#Units 13,532
Price/SF $510.31
Expiration 06-30-2038
Tenant Type Pharmacy
NOI $346,236
R. Term 14.1
Ownership Fee Simple
Rent/SF $30.62
Increases 0.0%/0/yrs
Pop 5Mi 21,475
Lot/AC 1.51
Options 11/5yrs
AHHI 5Mi $70,149

Lease Highlights

  • Walgreens has 14 years remaining on the current lease term with 11 (5-year) options to extend
  • Subject property is also available to purchase as part of a larger Walgreens portfolio | Contact Agent for details
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signaled, four-way intersection of Georgia Road and Siler Road, with access to a combined daily traffic count of 23,811 vehicles. The property is conveniently situated just off the U.S. Highway 64 interchange, which serves over 25,450 VPD. The immediate area is surrounded by well-known national tenants, including Sonic, McDonald's, Huddle House,...

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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 : 1,643 12,636 22,095
2023 Total Population : 1,614 12,262 21,453
2023 Employed Civilian Pop : 448 4,623 8,680
2023 Total Businesses : 170 1,046 1,227
2023 Average Household Income : $ 56,971 $ 69,330 $ 70,149
2023 Total Consumer Spending : $ 38 M $ 329 M $ 577 M
2023 Median Age : 42 48 49
2023 Total Households : 762 5,394 9,320
2023 Pop Age 25+: Bachelor's Degree : 133 1,404 2,637
2023 Average Home Value : $ 240,159 $ 262,336 $ 256,199
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Dryman Rd Franklin Plz 2004 22,000 0.06 mi
Georgia Road 2019 24,000 0.06 mi
Georgia Road Franklin Plz 2022 22,485 0.09 mi
Dryman Road George Reid Rd 2022 404 0.11 mi
Franklin Plz 2022 1,647 0.12 mi
Allman Drive Pin Oak Dr 2022 1,512 0.14 mi
US 23;US 441 Franklin Plz 2022 8,828 0.16 mi
Siler Road Georgia Rd 2022 3,933 0.25 mi
Sylva Rd 2022 920 0.26 mi
US 23;US 441 Georgia Rd 2022 8,076 0.30 mi

Listing Broker

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