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Views: 134 DOM: 261 Updated: 11.07.24 Posted: 04.05.24 Status: Active

Summary

Price $8,035,000
Built/Renov 2008
Tenant Walgreens
Cap Rate 7.35%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,550
Lease Start 03-16-2009
#Units 13,532
Price/SF $592.47
Expiration 03-31-2034
Tenant Type Pharmacy
NOI $590,500
R. Term 9.3
Ownership Fee Simple
Rent/SF $40.58
Increases 0.0%/0/yrs
Pop 5Mi 35,994
Lot/AC 1.49
Options 50/1yrs
AHHI 5Mi $139,376

Lease Highlights

  • Walgreens has been operating in this location since 2008
  • The tenant has 9 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 Main Street and Brook Street, with access to a combined daily traffic count of 20,412 vehicles. The property is situated just half a mile from the UMass Memorial HealthAlliance-Clinton Hospital. Additionally, it is directly across the street from a grocery-anchored shopping center featuring Hannaford Supermarket,...

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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 : 11,789 23,712 36,593
2023 Total Population : 11,681 23,350 35,994
2023 Employed Civilian Pop : 6,376 12,311 18,577
2023 Total Businesses : 386 655 1,189
2023 Average Household Income : $ 96,353 $ 116,170 $ 139,376
2023 Total Consumer Spending : $ 411 M $ 949 M $ 1701 M
2023 Median Age : 41 43 44
2023 Total Households : 4,935 9,574 14,426
2023 Pop Age 25+: Bachelor's Degree : 2,005 4,924 7,829
2023 Average Home Value : $ 376,979 $ 441,897 $ 493,905
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Brook Street Parker St 2022 6,451 0.04 mi
BROOK STREET Parker St 2021 5,836 0.04 mi
Main Street Clark St 2018 12,041 0.04 mi
MA 70 Brook St 2022 11,384 0.04 mi
MA 70 Brook St 2021 11,216 0.04 mi
Brook Street Main St 2022 1,300 0.06 mi
BROOK STREET Main St 2021 1,301 0.06 mi
Main Street 2019 11,326 0.06 mi
MA 70 Plain St 2021 10,465 0.06 mi
Main Street Plain St 2022 10,455 0.10 mi

Listing Broker

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