Walgreens

740 Kentucky 15, Jackson, KY 41339

$1,617,200

Cap Rate 6.40%

Views: 69 Updated: 03.29.24 Posted: 11.22.23 Status: Inactive

Summary

Price $1,617,200	Built/Renov 2023	Tenant Walgreens
Cap Rate 6.40%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,560	Lease Start 02-16-2023	#Units 8,896
Price/SF $631.72	Expiration 02-28-2033	Tenant Type Pharmacy
NOI $103,500	R. Term 8.3	Ownership Fee Simple
Rent/SF $40.43	Increases 5.0%/6/yrs	Pop 5Mi 5,162
Lot/AC 1.08	Options 4/5yrs/5%	AHHI 5Mi $51,653

Lease Highlights

Brand-new 2023 construction
Walgreens has 9+ years remaining on the current lease term with 4 (5-year) options to extend
Lease features 5% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease | Investment grade tenant

Location Description

Walgreens is strategically located along Kentucky Highway 15, with access to 13,600 vehicles passing by daily. This Highway serves as Jackson's primary thoroughfare, providing direct access to Lexington. Additionally, the property is conveniently situated in close proximity to numerous national retailers, including Walmart, Hardee's, Tractor Supply Co, McDonald's, Ace Hardware, and more....

...

Key Features

New construction
New prototype
Dense retail corridor
Near major nationals
Highway location
Hospital close
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Links

Walgreens Wikipedia Walgreens Wikipedia Jackson, Kentucky Zip Code 41339 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walgreens
Guarantor:Corp T and Rated
Company:Walgreens Boots Alliance
# Units:8,896
Tenant S&P: BBB
Moody’s: Baa3
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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	1,487	3,806	5,897
2023 Total Population :	1,504	3,837	5,924
2023 Employed Civilian Pop :	530	1,295	1,969
2023 Total Businesses :	169	278	293
2023 Average Household Income :	$ 62,146	$ 56,630	$ 57,911
2023 Total Consumer Spending :	$ 37 M	$ 86 M	$ 132 M
2023 Median Age :	45	44	44
2023 Total Households :	661	1,682	2,535
2023 Pop Age 25+: Bachelor's Degree :	103	218	355
2023 Average Home Value :	$ 148,190	$ 145,988	$ 131,381

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
State Hwy 15	Jett Dr	2001	13,974	0.11 mi
State Hwy 15 S	Miller Hollow Rd	2015	10,410	0.15 mi
Park Road	Miller Hollow Rd	2018	12,259	0.15 mi
Main St	Lincoln Ave	2015	1,697	0.26 mi
Jett Dr	L B J Rd	2015	3,502	0.27 mi
	Hwy 15 S	2018	912	0.39 mi
State Hwy 1812 N	Hwy 15 S	2015	1,062	0.39 mi
State Hwy 15	Murray Ln	2002	17,223	0.41 mi
Highland Ave	Lincoln Ave	2014	178	0.54 mi
Old Quicksand Road	Redbird Hollow Rd	2022	1,204	0.65 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

190 Listings
23000 Views
113 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

191 Listings
23101 Views
114 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

...

Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT