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Views: 21 DOM: 67 Updated: 05.05.24 Posted: 03.10.24 Status: Active

Summary

Price $3,851,683
Built/Renov 2008
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,444
Lease Start 06-30-2023
#Units 8,896
Price/SF $266.66
Expiration 06-30-2038
Tenant Type Pharmacy
NOI $231,101
R. Term 14.1
Ownership Fee Simple
Rent/SF $16.00
Increases 0.0%/0/yrs
Pop 5Mi 6,407
Lot/AC 2.24
Options 10/5yrs
AHHI 5Mi $79,208

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 hard corner intersection of State Route 27 and Railroad Street, with access to a daily traffic count of 11,300 vehicles. Moreover, it is conveniently located just off US Highway 63, with an additional 11,800 VPD. This property benefits from the scarcity of nearby pharmacy locations, with the nearest CVS situated 56 miles to the south. Nearby retailers...

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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 : 2,282 4,867 6,421
2023 Total Population : 2,280 4,857 6,407
2023 Employed Civilian Pop : 1,059 2,412 3,128
2023 Total Businesses : 411 562 631
2023 Average Household Income : $ 64,377 $ 73,192 $ 79,208
2023 Total Consumer Spending : $ 59 M $ 140 M $ 200 M
2023 Median Age : 44 45 47
2023 Total Households : 1,034 2,137 2,820
2023 Pop Age 25+: Bachelor's Degree : 255 582 861
2023 Average Home Value : $ 204,703 $ 215,794 $ 249,712
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
State Hwy 27 Wheeler St 2017 14,200 0.07 mi
State Highway 27 Hwy 63 2021 11,300 0.07 mi
Railroad Street Hwy 77 2021 3,900 0.11 mi
US Hwy 63 Aly 2017 11,800 0.12 mi
2nd St 2021 4,400 0.13 mi
Railroad St 2021 640 0.14 mi
Main St Hwy 63 2011 1,100 0.14 mi
WI 27 Dyno Dr 2021 13,500 0.21 mi
2nd St 2021 2,400 0.23 mi
US Hwy 63 California Ave 2017 11,100 0.25 mi

Listing Broker

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