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Views: 108 DOM: 185 Updated: 11.18.24 Posted: 06.19.24 Status: Active

Summary

Price $6,558,865
Built/Renov 2011
Tenant Kinney Drugs
Cap Rate 6.00%
Lease Type NN+
Guarantor Corporate
Size/SF 11,583
Lease Start 08-25-2011
#Units 100
Price/SF $566.25
Expiration 05-31-2032
Tenant Type Pharmacy
NOI $393,532
R. Term 7.5
Ownership Fee Simple
Rent/SF $33.97
Increases 10.0%/2/yrs
Pop 5Mi 46,861
Lot/AC 1.97
Options 2/5yrs/10%
AHHI 5Mi $143,938

Lease Highlights

  • Kinney Drugs has 7+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features 10% rental increase scheduled in 2027
  • Favorable NN+ lease with landlord responsible for structure only
  • Corporate guaranteed lease

Location Description

Kinney Drugs is strategically located at the signalized, hard corner intersection of Executive Drive and Shelburne Road, the primary thoroughfare, with access to a combined daily traffic count of 39,703 vehicles. The property is surrounded by well-known national tenants including Tractor Supply Co., Dunkin’, Ethan Allen, Harbor Freight, several car dealerships, among others. Additionally, it...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Kinney Drugs
  • Guarantor:Corporate
  • Company:KPH Healthcare Services
  • # Units:100
  • Stock:Private

About Tenant

Kinney Drugs is a retail pharmacy that provides high-quality pharmacy and retail products and services and is the 4th largest chain drug retailer in the United States, filling nearly 8 million...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 3,207 14,980 48,069
2024 Total Population : 3,014 14,543 46,804
2024 Employed Civilian Pop : 1,518 8,393 26,210
2024 Total Businesses : 176 693 3,262
2024 Average Household Income : $ 151,864 $ 157,075 $ 130,431
2024 Total Consumer Spending : $ 161 M $ 795 M $ 2105 M
2024 Median Age : 47 45 35
2024 Total Households : 1,245 5,911 18,651
2024 Pop Age 25+: Bachelor's Degree : 486 3,638 9,691
2024 Average Home Value : $ 657,760 $ 657,991 $ 590,873
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Shelburne Road Tamarack Shores 2022 20,509 0.05 mi
Shelburne Road Bay Rd 2021 20,326 0.05 mi
Executive Drive Shelburne Rd 2022 1,298 0.05 mi
Shelburne Road Executive Dr 2021 17,196 0.08 mi
Shelburne Road Shelburne Rd 2022 17,351 0.08 mi
Bay Road Spinnaker Ln 2022 3,205 0.09 mi
Bay Road Shelburne Rd 2021 3,176 0.09 mi
Bay Road Bayfield Dr 2019 2,388 0.38 mi
Hullcrest Road Shelburne Rd 2022 1,204 0.39 mi
Lakeview Drive Shelburne Rd 2022 186 0.40 mi

Listing Broker

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