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Views: 76 DOM: 113 Updated: 07.31.24 Posted: 07.31.24 Status: Active

Summary

Price $5,896,000
Built/Renov 2010
Tenant Walgreens
Cap Rate 8.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,079
Lease Start 04-11-2011
#Units 13,532
Price/SF $418.78
Expiration 04-30-2036
Tenant Type Pharmacy
NOI $510,000
R. Term 11.5
Ownership Fee Simple
Rent/SF $36.22
Increases 0.0%/0/yrs
Pop 5Mi 44,507
Lot/AC 1.22
Options 50/1yrs
AHHI 5Mi $122,687

Lease Highlights

  • Walgreens has been operating in this location since 2011
  • The tenant has 11+ years remaining on the current lease term with 50 (1-year) options to extend
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard-corner intersection of Central Avenue and Main Street, with access to a combined daily traffic count of 33,950 vehicles. The property is situated just over half a mile from Allina Health St. Michael Clinic and less than 2.5 miles south of the Albertville Premium Outlets mall, which hosts over 110 tenants. The immediate area boasts...

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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 : 8,049 33,734 56,095
2024 Total Population : 7,154 29,084 49,298
2024 Employed Civilian Pop : 4,103 16,109 26,973
2024 Total Businesses : 163 591 837
2024 Average Household Income : $ 127,896 $ 138,362 $ 144,276
2024 Total Consumer Spending : $ 275 M $ 1167 M $ 2018 M
2024 Median Age : 35 36 36
2024 Total Households : 2,496 9,791 16,246
2024 Pop Age 25+: Bachelor's Degree : 1,403 5,536 10,026
2024 Average Home Value : $ 400,000 $ 405,363 $ 422,499
*ESRI data is presented for informational purposes only

Listing Broker

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