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Views: 116 DOM: 165 Updated: 11.25.24 Posted: 07.09.24 Status: Active

Summary

Price $5,103,000
Built/Renov 2009
Tenant Walgreens
Cap Rate 7.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,820
Lease Start 03-01-2009
#Units 13,532
Price/SF $344.33
Expiration 03-31-2034
Tenant Type Pharmacy
NOI $370,000
R. Term 9.3
Ownership Fee Simple
Rent/SF $24.97
Increases 0.0%/0/yrs
Pop 5Mi 15,882
Lot/AC 1.98
Options 0/0yrs
AHHI 5Mi $85,553

Lease Highlights

  • Walgreens has been operating in this location since 2009
  • The tenant has 9+ years remaining on the firm term
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of South Main Street and Sussex Highway, with access to a combined daily traffic count of 28,346 vehicles. The property offers multiple points of ingress and egress. Additionally, there is limited competition in the area, with the nearest Walgreens being over five miles away. Nearby well-known national tenants...

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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
2029 Total Population : 1,688 9,605 18,250
2024 Total Population : 1,339 8,473 16,670
2024 Employed Civilian Pop : 407 3,583 7,278
2024 Total Businesses : 69 329 674
2024 Average Household Income : $ 103,469 $ 94,205 $ 92,948
2024 Total Consumer Spending : $ 64 M $ 272 M $ 541 M
2024 Median Age : 69 43 43
2024 Total Households : 709 3,261 6,563
2024 Pop Age 25+: Bachelor's Degree : 408 1,107 1,987
2024 Average Home Value : $ 410,974 $ 410,707 $ 426,701
*ESRI data is presented for informational purposes only

Listing Broker

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