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Views: 34 DOM: 66 Updated: 05.03.24 Posted: 03.11.24 Status: Active

Summary

Price $3,528,544
Built/Renov 2008
Tenant Walgreens
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,405
Lease Start 06-30-2023
#Units 8,896
Price/SF $244.95
Expiration 06-30-2038
Tenant Type Pharmacy
NOI $220,534
R. Term 14.1
Ownership Fee Simple
Rent/SF $15.31
Increases 0.0%/0/yrs
Pop 5Mi 62,126
Lot/AC 1.91
Options 10/5yrs
AHHI 5Mi $78,319

Lease Highlights

  • Walgreens has 14+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease (NASDAQ: WBA)
  • Investment grade tenant (S&P: BBB-)

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of S Madison Road and Sun Valley Drive, with access to a combined daily traffic count of 6,600 vehicles. Neighboring national tenants include First National Bank, McDonald’s, Dollar Tree, H&R Block, Dollar General, United Car Wash, and more. The 5-mile trade area is supported by a population of 62,126 residents with...

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Maps

  • 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 : 7,272 40,192 63,050
2023 Total Population : 7,278 39,477 62,021
2023 Employed Civilian Pop : 3,238 18,168 29,917
2023 Total Businesses : 102 1,037 1,861
2023 Average Household Income : $ 66,011 $ 69,936 $ 78,275
2023 Total Consumer Spending : $ 178 M $ 939 M $ 1663 M
2023 Median Age : 39 36 38
2023 Total Households : 3,057 15,241 24,210
2023 Pop Age 25+: Bachelor's Degree : 522 3,003 5,665
2023 Average Home Value : $ 188,620 $ 182,184 $ 190,972
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Madison Rd Bittel St 2019 5,700 0.09 mi
McKinley Ave Whipple St 2019 2,500 0.48 mi
Burton St Frederick St 2019 4,000 0.48 mi
E Liberty Ave Division St 2016 4,200 0.59 mi
East Liberty Avenue Division St 2019 3,900 0.60 mi
McKinley Ave Burton St 2019 2,800 0.62 mi
S Madison Rd W Spring Creek Rd 2016 2,800 0.63 mi
Whipple St Moore St 2019 1,600 0.64 mi
McKinley Avenue Middle St 2019 2,000 0.66 mi
S Madison Rd McKinley Ave 2007 6,600 0.70 mi

Listing Broker

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