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Views: 106 DOM: 170 Updated: 07.24.24 Posted: 05.13.24 Status: Sold 10.30.24

Summary

Price $7,500,000
Built/Renov 2009
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,820
Lease Start 09-28-2009
#Units 13,532
Price/SF $506.07
Expiration 09-30-2034
Tenant Type Pharmacy
NOI $450,000
R. Term 9.9
Ownership Fee Simple
Rent/SF $30.36
Increases 0.0%/0/yrs
Pop 5Mi 134,289
Lot/AC 1.60
Options 1/50yrs
AHHI 5Mi $145,076

Lease Highlights

  • Walgreens has been operating in this location since 2009
  • The tenant has 10+ years remaining on the current lease term with 1 (50-year) option to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located on Forty Foot Road, with access to 29,856 vehicles passing by daily. The property is conveniently situated near Sumneytown Pike, a main throughway and retail corridor, with 28,950 VPD. The immediate area is surrounded by well-known national retailers including Wawa, Starbucks, Courtyard by Marriott, Holiday Inn & Suites, Royal Farms, and AVIS. Additionally,...

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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 : 7,404 56,911 136,243
2024 Total Population : 7,466 56,376 134,729
2024 Employed Civilian Pop : 4,374 32,175 76,160
2024 Total Businesses : 214 1,740 4,830
2024 Average Household Income : $ 146,920 $ 148,865 $ 152,035
2024 Total Consumer Spending : $ 409 M $ 2881 M $ 6826 M
2024 Median Age : 47 44 44
2024 Total Households : 3,245 22,554 52,320
2024 Pop Age 25+: Bachelor's Degree : 2,018 13,095 30,439
2024 Average Home Value : $ 477,883 $ 493,216 $ 509,827
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Sumneytown Pike Franklin Ave 2016 17,678 0.17 mi
Franklin Ave Bustard Rd 2019 1,300 0.25 mi
I- 476 Bustard Rd 2019 67,413 0.35 mi
Sumneytown Pike I- 476 2016 28,950 0.37 mi
Sumneytown Pike Sumneytown Pike 2019 13,889 0.46 mi
Pennsylvania Turnpike Northeast Extension Wambold Rd 2022 12,384 0.46 mi
Pennsylvania Turnpike Northeast Extension I- 476 2019 15,076 0.46 mi
Sumneytown Pike Maxwell Ct 2017 16,570 0.54 mi
Bustard Road Adams Rd 2019 8,041 0.61 mi
Bustard Rd Liberty Bell Dr 2017 9,135 0.84 mi

Listing Broker

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