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Views: 77 DOM: 121 Updated: 07.23.24 Posted: 07.23.24 Status: Active

Summary

Price $5,460,000
Built/Renov 2004
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,650
Lease Start 03-26-2004
#Units 13,532
Price/SF $400.00
Expiration 04-01-2034
Tenant Type Pharmacy
NOI $327,600
R. Term 9.4
Ownership Fee Simple
Rent/SF $24.00
Increases 5.0%/5/yrs
Pop 5Mi 99,515
Lot/AC 1.93
Options 9/5yrs/5%
AHHI 5Mi $109,584

Lease Highlights

  • Walgreens has been operating in this location for 20+ years
  • The tenant has 9+ years remaining on the current lease term with 9 (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 East Highway 50 and North Hancock Road, providing access to a substantial combined daily traffic count of 80,200 vehicles. The property is roughly 1.2 miles from Orlando Health South Lake Hospital, a 170-bed hospital employing over 1,600 people, and approximately 1.4 miles from East Ridge High School, catering to...

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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 : 6,037 62,969 118,134
2024 Total Population : 5,550 56,463 102,096
2024 Employed Civilian Pop : 2,660 26,770 49,738
2024 Total Businesses : 325 2,127 3,425
2024 Average Household Income : $ 123,116 $ 111,660 $ 118,305
2024 Total Consumer Spending : $ 244 M $ 2139 M $ 3938 M
2024 Median Age : 43 43 43
2024 Total Households : 2,267 21,949 38,325
2024 Pop Age 25+: Bachelor's Degree : 1,024 9,714 17,564
2024 Average Home Value : $ 456,500 $ 430,151 $ 459,974
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Hancock Rd 2022 66,000 0.08 mi
N Hancock Rd Oakley Seaver Dr 2012 14,193 0.21 mi
Hancock Rd Hooks St 2012 15,407 0.28 mi
Hooks St Holly Berry Cr 2012 6,624 0.39 mi
Oakley Seaver Dr N Hancock Rd 2012 2,300 0.59 mi
Legends Way Paloma Rd 2022 3,900 0.62 mi
State Rd 50 Paloma Rd 2012 44,000 0.63 mi
State Rd 50 Emil Jahna Rd 2012 29,742 0.64 mi
Hooks St Paloma Rd 2012 3,673 0.69 mi
N Hancock Rd W Point Blvd 2012 13,700 0.71 mi

Listing Broker

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