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Views: 187 DOM: 721 Updated: 11.22.24 Posted: 02.01.23 Status: Active

Summary

Price $6,300,000
Built/Renov 2001
Tenant Walgreens
Cap Rate 4.80%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 16,980
Lease Start 11-01-2024
#Units 13,532
Price/SF $371.02
Expiration 11-30-2039
Tenant Type Pharmacy
NOI $302,400
R. Term 14.10
Ownership Fee Simple
Rent/SF $17.81
Increases 5.0%/5/yrs
Pop 5Mi 204,112
Lot/AC 2.00
Options 12/5yrs/5%
AHHI 5Mi $94,307

Lease Highlights

  • Walgreens has been operating in this location since 2001
  • Walgreens has committed to signing a brand-new 15-year lease upon sale with 12 (5-year) options to extend
  • Lease will feature 5% rental increases every 5 years throughout initial term and 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 Colonial Drive and Bridgeway Boulevard with clear visibility and access to more than 32,000 vehicles passing by daily. The subject property is surrounded by many national/credit tenants including Starbucks, Winn-Dixie, CVS, 7-Eleven, Publix, Cheddars, Wawa, McDonal’s and more. Furthermore, the site is less...

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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
2028 Total Population : 12,955 97,559 209,486
2023 Total Population : 12,618 98,649 210,283
2023 Employed Civilian Pop : 6,526 46,596 109,526
2023 Total Businesses : 195 2,769 5,346
2023 Average Household Income : $ 77,412 $ 88,942 $ 97,734
2023 Total Consumer Spending : $ 318 M $ 2418 M $ 5876 M
2023 Median Age : 33 28 31
2023 Total Households : 4,716 31,019 69,014
2023 Pop Age 25+: Bachelor's Degree : 2,171 15,626 35,483
2023 Average Home Value : $ 260,709 $ 330,994 $ 355,836
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E Colonial Dr Bridgeway Blvd 2007 31,500 0.05 mi
E Colonial Dr Bonneville Dr 2012 58,686 0.24 mi
E Colonial Dr Fricke Ave 2012 48,469 0.29 mi
E Colonial Dr Bonneville Dr 2007 38,500 0.44 mi
2011 13,080 0.54 mi
SR 50 E Colonial Dr 2021 13,000 0.54 mi
East-West Expressway E Colonial Dr 2021 14,600 0.56 mi
Holland East-West Expy E Colonial Dr 2012 10,100 0.58 mi
Lk Pickett Rd Wesleyan Blvd 2012 13,570 0.62 mi
SR 408 WB E Colonial Dr 2021 2,100 0.62 mi

Listing Broker

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