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Views: 113 DOM: 162 Updated: 09.29.24 Posted: 06.14.24 Status: Active

Summary

Price $3,100,000
Built/Renov 2005
Tenant Walgreens (Dark)
Cap Rate 8.39%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,490
Lease Start 09-01-2005
#Units 13,532
Price/SF $213.94
Expiration 09-30-2030
Tenant Type Pharmacy
NOI $260,000
R. Term 5.10
Ownership Fee Simple
Rent/SF $17.94
Increases 0.0%/0/yrs
Pop 5Mi 14,608
Lot/AC 1.76
Options 10/5yrs
AHHI 5Mi $71,979

Lease Highlights

  • Walgreens has 6+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee (NASDAQ: WBA)
  • Investment grade tenant (S&P: BBB-)

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of IN-3 and East Freeland Road, with access to a combined daily traffic count of 14,500 vehicles. The property is situated directly off the interstate, provides excellent visibility and access with multiple ingress/egress points. The immediate area is surrounded by well-known national tenants including Walmart,...

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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 : 3,889 12,943 14,697
2024 Total Population : 3,878 12,981 14,724
2024 Employed Civilian Pop : 2,145 6,720 7,620
2024 Total Businesses : 208 705 760
2024 Average Household Income : $ 71,811 $ 81,344 $ 82,742
2024 Total Consumer Spending : $ 106 M $ 386 M $ 442 M
2024 Median Age : 41 40 40
2024 Total Households : 1,678 5,341 6,022
2024 Pop Age 25+: Bachelor's Degree : 384 1,524 1,766
2024 Average Home Value : $ 200,280 $ 212,085 $ 219,375
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
State Rte 3 E Freeland Rd 2018 14,560 0.04 mi
I 74 134 LOOP E SW I- 74 2021 432 0.24 mi
State Rd 3 E Greenview Dr 2018 15,028 0.25 mi
I 74 134 RAMP A SW State Rd 3 2021 1,623 0.27 mi
I 74 134 LOOP F SE State Rd 3 2021 762 0.28 mi
I 74 134 RAMP B SE State Rd 3 2021 2,200 0.29 mi
East Freeland Road N Wheeler Ct 2021 3,988 0.30 mi
I 74 134 LOOP G NE I- 74 2021 1,529 0.36 mi
I 74 134 LOOP H NW I- 74 2021 2,048 0.36 mi
I 74 134 RAMP C NE State Rd 3 2021 552 0.39 mi

Listing Broker

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