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Views: 72 Updated: 08.21.24 Posted: 01.23.24 Status: Inactive 08.21.24

Summary

Price $3,300,000
Built/Renov 2005
Tenant Walgreens
Cap Rate 6.68%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,780
Lease Start 05-11-2005
#Units 13,532
Price/SF $337.42
Expiration 05-31-2030
Tenant Type Pharmacy
NOI $220,440
R. Term 5.6
Ownership Fee Simple
Rent/SF $22.54
Increases 8.0%/6/yrs
Pop 5Mi 5,875
Lot/AC 1.09
Options 6/5yrs/8%
AHHI 5Mi $84,796

Lease Highlights

  • Walgreens has been operating in this location since 2005
  • The tenant has 6+ years remaining on the current lease term with 6 (5-year) options to extend
  • Lease features 8% rental increases every 5 years throughout the initial term and at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Walgreens is strategically located on Garland Lane, with access to 7,000 vehicles passing by daily. The property is situated in a prime retail corridor, surrounded by prominent national tenants such as Tractor Supply Co, Dunkin' Donuts, Mavis Discount Tire, Benjamin Moore, and Dollar General. Additionally, the site is only 5 miles away from Sunny Hill Resort & Golf Course, recognized as one 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
2028 Total Population : 635 2,746 5,794
2023 Total Population : 648 2,743 5,778
2023 Employed Civilian Pop : 340 1,452 2,947
2023 Total Businesses : 67 124 179
2023 Average Household Income : $ 86,687 $ 97,710 $ 103,169
2023 Total Consumer Spending : $ 24 M $ 97 M $ 219 M
2023 Median Age : 47 47 47
2023 Total Households : 326 1,153 2,462
2023 Pop Age 25+: Bachelor's Degree : 86 314 625
2023 Average Home Value : $ 288,645 $ 299,033 $ 293,580
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
State Highway 32 Hill St 2021 7,482 0.03 mi
State Hwy 81 Hwy 32 2006 3,950 0.77 mi
State Highway 32 Jenning Rd 2021 4,152 0.95 mi
Co Rd 26 Turon Rd 2003 1,241 0.98 mi
State Hwy 32 Co Rd 405 2000 4,000 1.20 mi
County Route 405 Jenning Rd 2021 2,253 1.31 mi
County Route 403 Co Rd 405 2021 704 1.58 mi
NY 81 North Rd 2021 3,031 1.67 mi
CR 35 Red Mill Rd 2021 334 2.63 mi
County Route 405 North Rd 2021 675 2.96 mi

Listing Broker

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