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Views: 146 Updated: 06.20.24 Posted: 08.24.23 Status: Inactive 09.27.24

Summary

Price $3,011,000
Built/Renov 1999
Tenant Walgreens (LH)
Cap Rate 7.50%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 13,855
Lease Start 06-02-2000
#Units 13,532
Price/SF $217.32
Expiration 06-30-2060
Tenant Type Pharmacy
NOI $225,850
R. Term 35.7
Ownership Leasehold
Rent/SF $16.30
Increases 1.9%/7/yrs
Pop 5Mi 169,208
Lot/AC 1.61
Options 0/0yrs
AHHI 5Mi $84,722

Lease Highlights

  • Walgreens has successfully operated at this location for 20+ years
  • Tenant has 36+ years remaining on the current lease term
  • Lease features scheduled rental increases every 5 years starting in 2030
  • 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 Boston Road (US Hwy 20) and State Highway 21 & 41 with access to 68,900 vehicles per day. The site benefits from its location within a strong residential corridor which provides a direct consumer base for the site to draw from. National/credit tenants in the area include Lowe’s, The Home Depot, Planet Fitness,...

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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 : 9,778 61,180 167,618
2023 Total Population : 9,911 61,849 169,546
2023 Employed Civilian Pop : 4,490 27,980 73,533
2023 Total Businesses : 378 2,030 4,766
2023 Average Household Income : $ 73,342 $ 85,088 $ 84,760
2023 Total Consumer Spending : $ 260 M $ 1809 M $ 4742 M
2023 Median Age : 37 41 38
2023 Total Households : 4,079 24,604 64,750
2023 Pop Age 25+: Bachelor's Degree : 1,147 7,420 18,475
2023 Average Home Value : $ 246,056 $ 283,305 $ 286,853
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Parker St Boston Rd 2000 15,400 0.02 mi
MA 21;MA 141 Boston Rd 2021 18,490 0.03 mi
Boston Rd 2018 40,056 0.04 mi
Parker St Boston Rd 2000 13,200 0.04 mi
Boston Rd Paradise St 2000 33,200 0.05 mi
Parker St Boston Rd 2000 26,700 0.10 mi
Parker St Boston Rd 2000 28,300 0.13 mi
Boston Rd Parker St 2000 27,100 0.16 mi
PARKER STREET Boston Rd 2021 28,841 0.16 mi
Parker Street 2019 26,597 0.16 mi

Listing Broker

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