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Views: 48 DOM: 74 Updated: 08.27.24 Posted: 06.25.24 Status: Active

Summary

Price $5,240,000
Built/Renov 2005
Tenant Walgreens
Cap Rate 7.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,805
Lease Start 03-01-2006
#Units 13,532
Price/SF $353.93
Expiration 02-28-2031
Tenant Type Pharmacy
NOI $393,000
R. Term 6.5
Ownership Fee Simple
Rent/SF $26.55
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 6+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN | 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

  • 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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Listing Broker

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