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Views: 80 DOM: 59 Updated: 08.28.24 Posted: 07.10.24 Status: Active 07.10.24

Summary

Price $7,125,000
Built/Renov 2012
Tenant Walgreens
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,550
Lease Start 09-01-2022
#Units 13,532
Price/SF $489.69
Expiration 09-30-2042
Tenant Type Pharmacy
NOI $570,000
R. Term 18.0
Ownership Fee Simple
Rent/SF $39.18
Increases 0.0%/0/yrs
Pop 5Mi 316,927
Lot/AC 1.29
Options 45/1yrs
AHHI 5Mi $96,443

Lease Highlights

  • Walgreens has 18+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Investment grade tenant (S&P: BBB-)
  • Corporate guaranteed lease (NASDAQ: WBA)

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Jefferson Highway/State Route 90 and Central Avenue, the primary east-west thoroughfare boasting a combined daily traffic count of 35,000 vehicles. The property is surrounded by well-known national tenants, such as Ace Hardware, Domino's, Wendy's, Shell, NAPA, and more. Moreover, it enjoys a prime location just 1...

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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 : 9,339 105,209 313,516
2023 Total Population : 9,397 106,155 316,927
2023 Employed Civilian Pop : 5,378 57,407 162,705
2023 Total Businesses : 851 7,132 17,824
2023 Average Household Income : $ 79,219 $ 94,970 $ 96,443
2023 Total Consumer Spending : $ 331 M $ 4036 M $ 11496 M
2023 Median Age : 46 42 40
2023 Total Households : 4,838 49,101 137,626
2023 Pop Age 25+: Bachelor's Degree : 1,669 19,909 56,506
2023 Average Home Value : $ 265,121 $ 354,763 $ 372,922
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Central Avenue Ellen St 2022 6,616 0.03 mi
Jefferson Highway Highway Dr 2022 39,990 0.05 mi
Central Avenue Jefferson Hwy 2022 3,227 0.14 mi
Jefferson Hwy Jefferson St 2011 30,368 0.14 mi
US0090 Jefferson Hwy 2020 34,510 0.14 mi
US 90 Newman Ave 2021 38,588 0.16 mi
US 90 Newman Ave 2022 41,289 0.16 mi
Jefferson Highway St George Ave 2022 40,680 0.49 mi
Jefferson Hwy Lauricella Ave 2011 31,544 0.54 mi
US0090 Jefferson Hwy 2020 33,545 0.54 mi

Listing Broker

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