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Views: 130 DOM: 207 Updated: 07.30.24 Posted: 02.22.24 Status: Active

Summary

Price $3,162,393
Built/Renov 2023
Tenant Walgreens
Cap Rate 5.85%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 14,208
Lease Start 06-01-2024
#Units 13,532
Price/SF $222.58
Expiration 05-31-2034
Tenant Type Pharmacy
NOI $185,000
R. Term 9.8
Ownership Fee Simple
Rent/SF $13.02
Increases 0.0%/10/yrs
Pop 5Mi 239,872
Lot/AC 1.13
Options 5/5yrs
AHHI 5Mi $80,190

Lease Highlights

  • Brand-new 2023 construction
  • Walgreens will be executing a brand-new 10-year lease with 5 (5-year) options to extend
  • The lease features $10,000 rental escalations at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure | New 10-year roof warranty
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Dr M.L.K Jr Street N and 9th Avenue N, with access to a combined daily traffic count of 20,800 vehicles. The property is conveniently situated near St. Anthony’s Hospital, and John Hopkins Children’s Hospital. Major employers in the area include Raymond James, John Hopkins Children’s Hospital, Home Shopping...

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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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Traffic

Collection Street Cross Street Year Traffic Vol Distance
9th St N 10th Ave N 2011 14,116 0.08 mi
Doctor Martin Luther King Junior Street North 7th Ave N 2022 12,800 0.15 mi
5th Ave N Highland St N 2011 5,200 0.23 mi
Highland St N 2022 2,700 0.24 mi
5th Avenue North 10th St N 2022 10,000 0.24 mi
8th St N 2022 22,500 0.26 mi
5th Avenue North 8th St N 2022 6,300 0.28 mi
5th Ave N Grove St N 2011 8,300 0.28 mi
Jackson St N 2022 2,700 0.30 mi
10th St N 2022 22,500 0.32 mi

Listing Broker

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