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Views: 112 DOM: 320 Updated: 11.15.24 Posted: 01.18.24 Status: Active

Summary

Price $3,585,484
Built/Renov 2009
Tenant Walgreens
Cap Rate 6.20%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,820
Lease Start 11-21-2023
#Units 13,532
Price/SF $241.94
Expiration 11-30-2038
Tenant Type Pharmacy
NOI $222,300
R. Term 14.0
Ownership Fee Simple
Rent/SF $15.00
Increases 5.0%/4/yrs
Pop 5Mi 133,307
Lot/AC 2.23
Options 12/5yrs/5%
AHHI 5Mi $67,807

Lease Highlights

  • Walgreens recently executed a brand-new 15-year lease with 12 (5-year) options to extend
  • Lease features 5% rental increases every 5 years throughout the initial term and at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Walgreens is strategically located at the hard corner intersection of Terry Road and Cane Run Road, benefiting from a substantial combined daily traffic count of 48,242 vehicles. Located less than 3 miles southwest of Interstate 264 (51,998 VPD), the site enjoys convenient accessibility. Adjacent to the property are Cane Run Station Apartments and Lions Arms Apartments. Furthermore, the...

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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 : 7,162 53,226 133,176
2023 Total Population : 7,136 53,345 133,307
2023 Employed Civilian Pop : 3,129 25,749 63,702
2023 Total Businesses : 113 1,270 2,984
2023 Average Household Income : $ 64,630 $ 66,816 $ 67,807
2023 Total Consumer Spending : $ 160 M $ 1291 M $ 3207 M
2023 Median Age : 40 40 40
2023 Total Households : 2,850 22,156 54,129
2023 Pop Age 25+: Bachelor's Degree : 525 4,682 11,292
2023 Average Home Value : $ 200,982 $ 215,405 $ 225,908
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Cane Run Rd Greenbelt Hwy 2012 21,900 0.05 mi
Terry Rd Cane Run Rd 2012 10,500 0.10 mi
Cane Run Rd Terry Rd 2012 31,900 0.11 mi
Cane Run Rd Greenbelt Hwy 2014 123 0.15 mi
Cane Run Road Greenbelt Hwy 2018 4,230 0.21 mi
Cane Run Rd Bridwell Dr 2010 27,690 0.21 mi
Bridwell Dr Kaufman Ln 2010 1,320 0.22 mi
Terry Rd la Vel Ln 2010 11,694 0.22 mi
Greenbelt Hwy Bridge Ave 2012 22,000 0.25 mi
Bridwell Dr Cane Run Rd 2010 520 0.33 mi

Listing Broker

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