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Views: 91 DOM: 178 Updated: 10.30.24 Posted: 06.26.24 Status: Active

Summary

Price $5,234,000
Built/Renov 1997
Tenant Walgreens
Cap Rate 6.75%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 13,905
Lease Start 05-02-1997
#Units 13,532
Price/SF $376.41
Expiration 04-30-2034
Tenant Type Pharmacy
NOI $353,312
R. Term 9.4
Ownership Fee Simple
Rent/SF $25.41
Increases 0.0%/0/yrs
Pop 5Mi 465,078
Lot/AC 1.40
Options 6/5yrs
AHHI 5Mi $104,349

Lease Highlights

  • Walgreens has been operating in this location for over 25 years
  • The tenant has 9+ years remaining on the current lease term with 6 (5-year) options to extend
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of 82nd Avenue and Holgate Boulevard, with access to a combined daily traffic count of 40,238 vehicles. The property is situated in a dominant trade area across from Eastport Plaza, which sees 3.3 million annual visits, according to Placer.ai. The immediate area features well-known national tenants including Ross...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Walgreens
  • Guarantor:Corp T and Rated
  • Company:Walgreens Boots Alliance
  • # Units:13,532
  • Tenant S&P: BBB-
  • Moody’s: Baa2
  • Stock: NASDAQ: WBA

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 : 25,559 205,003 479,670
2024 Total Population : 25,475 204,314 472,073
2024 Employed Civilian Pop : 14,414 118,693 268,849
2024 Total Businesses : 950 6,922 21,971
2024 Average Household Income : $ 101,430 $ 114,775 $ 119,755
2024 Total Consumer Spending : $ 876 M $ 8037 M $ 20176 M
2024 Median Age : 39 39 39
2024 Total Households : 9,922 80,800 194,652
2024 Pop Age 25+: Bachelor's Degree : 4,919 42,869 104,193
2024 Average Home Value : $ 569,395 $ 595,751 $ 637,181
*ESRI data is presented for informational purposes only

Listing Broker

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