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Views: 62 DOM: 137 Updated: 11.02.24 Posted: 08.06.24 Status: Active

Summary

Price $4,914,000
Built/Renov 1998
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 15,068
Lease Start 09-26-2023
#Units 13,532
Price/SF $326.12
Expiration 09-30-2038
Tenant Type Pharmacy
NOI $294,840
R. Term 13.9
Ownership Fee Simple
Rent/SF $19.57
Increases 5.0%/5/yrs
Pop 5Mi 321,992
Lot/AC 2.13
Options 12/5yrs/5%
AHHI 5Mi $96,268

Lease Highlights

  • Walgreens has 14 years remaining on the current lease term with 12 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard-corner intersection of Centerville Road and Broadway Boulevard, with access to a robust combined daily traffic count of 77,400 vehicles. The property is situated across from Plaza Garland shopping center, which features well-known national tenants including DaVita Dialysis, Dollar Tree, Burger King, McDonald’s, Retro Fitness, and more....

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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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 15,535 122,833 326,523
2024 Total Population : 15,893 122,625 321,992
2024 Employed Civilian Pop : 8,012 66,113 173,751
2024 Total Businesses : 538 3,670 10,541
2024 Average Household Income : $ 91,802 $ 91,399 $ 96,268
2024 Total Consumer Spending : $ 398 M $ 3293 M $ 9340 M
2024 Median Age : 36 35 36
2024 Total Households : 4,882 40,450 109,366
2024 Pop Age 25+: Bachelor's Degree : 1,348 12,323 36,570
2024 Average Home Value : $ 350,930 $ 340,254 $ 341,318
*ESRI data is presented for informational purposes only

Listing Broker

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