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Views: 59 DOM: 74 Updated: 08.08.24 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 9.7
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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Listing Broker

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