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Views: 199 DOM: 169 Updated: 11.05.24 Posted: 06.07.24 Status: Active

Summary

Price $1,656,000
Built/Renov 2023
Tenant Walgreens
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 02-16-2023
#Units 13,532
Price/SF $662.40
Expiration 02-28-2033
Tenant Type Pharmacy
NOI $103,500
R. Term 8.3
Ownership Fee Simple
Rent/SF $41.40
Increases 5.0%/5/yrs
Pop 5Mi 5,924
Lot/AC 1.08
Options 4/5yrs/7.5%
AHHI 5Mi $57,911

Lease Highlights

  • Brand-new construction | Cooper Prototype
  • Walgreens has 8+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 5% rental increases throughout the initial term and 7.5% at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located along State Highway 15, a major commuter route, with access to 14,000 vehicles passing by daily. The property is surrounded by well-known national tenants including Citizens Bank, Advance Auto Parts, Hardee’s, Walmart, Variety Pizza House, and more. Furthermore, the property is near numerous single-family communities and multi-family complexes including...

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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
2029 Total Population : 1,818 3,624 6,010
2024 Total Population : 1,910 3,770 6,221
2024 Employed Civilian Pop : 646 1,265 2,045
2024 Total Businesses : 198 288 307
2024 Average Household Income : $ 58,961 $ 56,573 $ 58,394
2024 Total Consumer Spending : $ 45 M $ 86 M $ 143 M
2024 Median Age : 44 43 44
2024 Total Households : 839 1,658 2,666
2024 Pop Age 25+: Bachelor's Degree : 156 262 441
2024 Average Home Value : $ 168,820 $ 150,907 $ 141,037
*ESRI data is presented for informational purposes only

Listing Broker

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