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Views: 131 DOM: 74 Updated: 08.27.24 Posted: 06.25.24 Status: Active

Summary

Price $4,083,768
Built/Renov 2000
Tenant Walgreens
Cap Rate 7.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 15,120
Lease Start 01-28-2002
#Units 13,532
Price/SF $270.09
Expiration 09-30-2036
Tenant Type Pharmacy
NOI $316,492
R. Term 12.0
Ownership Fee Simple
Rent/SF $20.93
Increases 0.0%/0/yrs
Pop 5Mi 133,007
Lot/AC 1.70
Options 8/5yrs
AHHI 5Mi $77,489

Lease Highlights

  • Walgreens has been operating in this location for 22 years
  • The tenant has 12+ years remaining on the current lease term with 8 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of 16th Street and 36th Avenue, with access to a combined daily traffic count of 23,100 vehicles. The property is surrounded by several retail powerhouses, including SouthPark Mall, River Place Center, and Rock River Plaza. Moreover, the immediate area boasts well-known national tenants such as Dillard’s, JCPenney,...

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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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Listing Broker

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