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Views: 95 DOM: 56 Updated: 10.06.24 Posted: 08.06.24 Status: Sold 10.01.24

Summary

Price $2,684,862 $2,713,252
Built/Renov 1993
Tenant Walgreens
Cap Rate 5.81% 5.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,003
Lease Start 09-26-2023
#Units 13,532
Price/SF $206.48 $208.66
Expiration 09-30-2038
Tenant Type Pharmacy
NOI $156,012
R. Term 13.9
Ownership Fee Simple
Rent/SF $12.00
Increases 5.0%/5/yrs
Pop 5Mi 154,212
Lot/AC 1.13
Options 12/5yrs/5%
AHHI 5Mi $81,682

Lease Highlights

  • Walgreens has 13+ years remaining on the current lease term with 12 (5-year) options to extend
  • The lease features 5% rental increases throughout the initial term and option periods
  • 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 Mason Street and South Baird Street, with access to a combined daily traffic count of 46,500 vehicles. The property is situated just a few blocks east of HSHS Saint Vincent Hospital and is within close proximity to East High School, which serves 1,300 students. The immediate area features well-known national...

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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 : 15,876 83,788 156,194
2024 Total Population : 15,940 82,097 154,212
2024 Employed Civilian Pop : 8,395 42,436 81,368
2024 Total Businesses : 586 3,013 5,934
2024 Average Household Income : $ 66,739 $ 74,580 $ 81,682
2024 Total Consumer Spending : $ 381 M $ 2271 M $ 4703 M
2024 Median Age : 35 36 37
2024 Total Households : 6,425 34,331 65,216
2024 Pop Age 25+: Bachelor's Degree : 1,758 9,305 21,455
2024 Average Home Value : $ 223,429 $ 257,336 $ 290,897
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Baird St E Mason St 2018 7,300 0.08 mi
E Mason St S Baird St 2018 22,100 0.09 mi
S Baird St Crooks St 2018 7,700 0.13 mi
E Mason St Hartung St 2018 25,300 0.22 mi
Porlier St S Baird St 2009 1,100 0.34 mi
S Baird St Porlier St 2018 7,300 0.36 mi
S Baird St Doty St 2006 7,500 0.41 mi
Bellevue St Chicago St 2018 7,100 0.45 mi
Bellevue St Charles St 2015 8,100 0.46 mi
E Walnut St N Baird St 2012 4,100 0.46 mi

Listing Broker

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