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Views: 90 DOM: 179 Updated: 11.12.24 Posted: 06.25.24 Status: Active

Summary

Price $4,700,000
Built/Renov 2005
Tenant Walgreens
Cap Rate 7.49%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,805
Lease Start 03-01-2006
#Units 13,532
Price/SF $317.46
Expiration 10-31-2034
Tenant Type Pharmacy
NOI $352,000
R. Term 9.10
Ownership Fee Simple
Rent/SF $23.78
Increases 0.0%/0/yrs
Pop 5Mi 266,216
Lot/AC 1.44
Options 10/5yrs
AHHI 5Mi $78,720

Lease Highlights

  • Walgreens has been operating in this location for over 15 years
  • The tenant has 9+ years remaining on the current lease term with 10 (5-year) options to extend
  • 11.65% increase in first option | Flat through remaining options
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of East Ridge Road and Culver Road, with access to a combined daily traffic count of 29,163 vehicles. The property is conveniently situated just half a mile west of the on-ramp to NY-590, which sees 48,534 VPD. Additionally, it is immediately adjacent to Byrne Dairy and Deli and is across Ridge Road from the Culver...

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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 : 10,924 100,647 262,414
2024 Total Population : 10,863 100,946 263,288
2024 Employed Civilian Pop : 5,339 45,910 125,942
2024 Total Businesses : 326 2,485 9,598
2024 Average Household Income : $ 82,226 $ 79,831 $ 81,949
2024 Total Consumer Spending : $ 372 M $ 3076 M $ 8735 M
2024 Median Age : 45 40 38
2024 Total Households : 5,097 43,421 120,342
2024 Pop Age 25+: Bachelor's Degree : 1,391 13,173 39,846
2024 Average Home Value : $ 253,418 $ 239,511 $ 253,454
*ESRI data is presented for informational purposes only

Listing Broker

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