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Views: 112 DOM: 222 Updated: 10.31.24 Posted: 05.13.24 Status: Active

Summary

Price $5,500,000
Built/Renov 1986
Tenant Walgreens
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,820
Lease Start 05-01-2007
#Units 13,532
Price/SF $371.12
Expiration 04-30-2074
Tenant Type Pharmacy
NOI $440,000
R. Term 49.4
Ownership Fee Simple
Rent/SF $29.69
Increases 0.0%/0/yrs
Pop 5Mi 289,645
Lot/AC 2.70
Options 0/0yrs
AHHI 5Mi $80,610

Lease Highlights

  • Walgreens has been operating in this location since 2007
  • The lease has a 75-year base term & Walgreens has the right to terminate at year 25 with 6 months notice required
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Elmwood Avenue and Clinton Avenue South, with access to a combined daily traffic count of 37,057 vehicles. The property is adjacent to 7-Eleven and Speedway, and a Tops Supermarket-anchored shopping center is located to the south. There are several medical offices in the immediate area, and The University of...

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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 : 13,269 125,915 285,593
2024 Total Population : 13,367 126,390 286,284
2024 Employed Civilian Pop : 6,952 63,244 131,525
2024 Total Businesses : 581 8,411 14,275
2024 Average Household Income : $ 94,759 $ 88,726 $ 83,291
2024 Total Consumer Spending : $ 566 M $ 4682 M $ 9214 M
2024 Median Age : 40 34 35
2024 Total Households : 6,807 59,613 124,711
2024 Pop Age 25+: Bachelor's Degree : 2,895 23,240 40,969
2024 Average Home Value : $ 306,660 $ 303,846 $ 272,672
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Clinton Ave S Elmwood Ave 2012 16,241 0.04 mi
Elmwood Ave Suburban Ct 2012 20,816 0.04 mi
Clinton Ave S Highland Ave 2011 12,054 0.46 mi
Goodman St S Highland Ave 2011 10,801 0.49 mi
Elmwood Ave Goodman St S 2009 18,301 0.50 mi
Laney Rd Arbor Dr 2019 7,256 0.51 mi
Goodman St S Pinetum Dr 2019 12,005 0.54 mi
Highland Avenue Clinton Ave S 2018 8,132 0.56 mi
Highland Avenue Laney Rd 2021 6,120 0.56 mi
Highland Ave Azalea Rd 2019 5,063 0.58 mi

Listing Broker

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