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Views: 112 DOM: 613 Updated: 09.12.24 Posted: 01.12.23 Status: Active

Summary

Price $5,500,000
Built/Renov 2001
Tenant Walgreens
Cap Rate 5.64%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 16,185
Lease Start 05-01-2002
#Units 13,532
Price/SF $339.82
Expiration 09-30-2030
Tenant Type Pharmacy
NOI $310,000
R. Term 6.0
Ownership Fee Simple
Rent/SF $19.15
Increases 5.0%/7/yrs
Pop 5Mi 65,170
Lot/AC 0.53
Options 4/5yrs/5%
AHHI 5Mi $31,813

Lease Highlights

  • Walgreens has 7+ years remaining in their current term with 4 (5-year) options to extend
  • Lease features 5% rental increase every 5 years in options
  • Favorable NN+ lease landlord responsible for roof & structure
  • Interior renovation in 2021 at tenant’s expense
  • Corporate guarantee by Walgreens (S&P: BBB)

Location Description

This Walgreens is strategically located on E. Alleghany Avenue, a main throughfare that sees 17,475 VPD. The site is also directly adjacent to the SETPA Alleghany Train Station, a major commuter rail line in Philadelphia, bringing an influx of people to the immediate area. The property is in an extremely dense residential infill area with over 6000 people within a .25-mile radius. Nearby...

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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 : 60,942 376,052 981,847
2023 Total Population : 61,431 368,892 966,983
2023 Employed Civilian Pop : 21,209 146,140 438,352
2023 Total Businesses : 1,501 9,203 32,590
2023 Average Household Income : $ 53,580 $ 66,642 $ 88,422
2023 Total Consumer Spending : $ 1030 M $ 8123 M $ 30334 M
2023 Median Age : 30 32 34
2023 Total Households : 21,887 138,739 394,069
2023 Pop Age 25+: Bachelor's Degree : 3,040 31,246 120,280
2023 Average Home Value : $ 164,957 $ 220,551 $ 289,435
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E Hilton St Kensington Ave 2011 612 0.03 mi
Kensington Ave E Hilton St 2017 7,960 0.04 mi
E Allegheny Ave Jasper St 2017 6,661 0.05 mi
Kensington Ave E Lippincott St 2017 10,504 0.10 mi
East Allegheny Avenue Rosehill St 2021 14,495 0.13 mi
E Allegheny Ave Emerald St 2019 13,625 0.15 mi
G St E Madison St 2017 6,900 0.15 mi
E Allegheny Ave Custer St 2017 15,025 0.18 mi
E Allegheny Ave Frankford Ave 2017 6,661 0.23 mi
E Clearfield St Emerald St 2017 6,900 0.24 mi

Listing Broker

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