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Views: 99 Updated: 09.16.24 Posted: 04.05.23 Status: Inactive 09.16.24

Summary

Price $2,548,000
Built/Renov 1999
Tenant Walgreens (GL)
Cap Rate 7.45%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 13,792
Lease Start 07-03-1999
#Units 13,532
Price/SF $184.74
Expiration 07-31-2029
Tenant Type Pharmacy
NOI $189,842
R. Term 4.8
Ownership Ground Lease
Rent/SF $13.76
Increases 0.0%/0/yrs
Pop 5Mi 228,088
Lot/AC 1.30
Options 6/5yrs
AHHI 5Mi $54,819

Lease Highlights

  • Walgreens has a 24+ year operating history at this location
  • The tenant has 6 years remaining on the current lease term with 6 (5-year) options to extend
  • Favorable NN+ lease with landlord responsibilities limited to roof and structure
  • Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Fuller Avenue and Knapp Street. The site benefits from excellent visibility and multiple points of ingress and egress. National/credit tenants in the area include McDonald’s, Wendy’s, Starbucks, Denny’s and more. Additionally, the site is located within a dense residential area providing a direct consumer base....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 13,829 94,432 219,492
2023 Total Population : 13,899 93,146 216,583
2023 Employed Civilian Pop : 7,161 50,893 113,161
2023 Total Businesses : 205 4,766 8,580
2023 Average Household Income : $ 80,313 $ 88,194 $ 94,627
2023 Total Consumer Spending : $ 437 M $ 3171 M $ 7280 M
2023 Median Age : 39 35 35
2023 Total Households : 6,236 41,140 88,295
2023 Pop Age 25+: Bachelor's Degree : 3,037 19,965 41,765
2023 Average Home Value : $ 268,322 $ 275,822 $ 296,154
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
KNAPP ST Fuller Ave NE 2020 10,296 0.03 mi
EAST OF FULLER Dawson Ave NE 2021 11,731 0.04 mi
Fuller Ave NE Regina St NE 2012 12,158 0.07 mi
WEST OF FULLER Fuller Ave NE 2021 8,945 0.08 mi
Knapp St NE Fuller Ave NE 2012 8,523 0.15 mi
Knapp St NE 2021 4,428 0.28 mi
DIAMOND AVE Knapp St NE 2020 3,886 0.28 mi
DIAMOND AVE Knapp St NE 2020 2,436 0.29 mi
NORTH OF KNAPP Graceland St NE 2021 2,776 0.30 mi
Ball Ave NE Knapp St NE 2012 1,683 0.48 mi

Listing Broker

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