loader
Join Free
Views: 85 DOM: 296 Updated: 09.18.24 Posted: 01.30.24 Status: Active

Summary

Price $5,434,000
Built/Renov 2007
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,821
Lease Start 11-21-2023
#Units 13,532
Price/SF $366.64
Expiration 11-30-2038
Tenant Type Pharmacy
NOI $326,040
R. Term 14.0
Ownership Fee Simple
Rent/SF $22.00
Increases 5.0%/4/yrs
Pop 5Mi 213,363
Lot/AC 1.54
Options 12/5yrs/5%
AHHI 5Mi $89,116

Lease Highlights

  • Walgreens recently executed a brand-new 15-year lease with 12 (5-year) options to extend
  • The lease features 5% rental increases every 5 years throughout the initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of West Southern Avenue and South 35th Avenue, with a combined daily traffic count of 65,400 vehicles. This site serves as an outparcel to the Laveen Pavilions Retail Center, which boasts national tenants such as Dollar Tree and Taco Bell. Furthermore, the surrounding area includes the South Mountain Crossing...

...

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...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 18,139 94,775 226,305
2023 Total Population : 17,904 89,070 213,363
2023 Employed Civilian Pop : 7,942 38,283 89,765
2023 Total Businesses : 164 1,082 4,661
2023 Average Household Income : $ 97,851 $ 102,459 $ 89,116
2023 Total Consumer Spending : $ 411 M $ 2103 M $ 4686 M
2023 Median Age : 30 31 30
2023 Total Households : 4,820 23,593 59,950
2023 Pop Age 25+: Bachelor's Degree : 1,721 7,638 15,826
2023 Average Home Value : $ 383,168 $ 406,752 $ 383,713
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
W Southern Ave S 35th Ave 2012 18,219 0.15 mi
W Southern Ave S 33rd Ave 2013 22,886 0.21 mi
West Southern Avenue S 33rd Ave 2018 25,721 0.24 mi
South 35th Avenue S 34th Glen 2018 17,951 0.27 mi
S 35th Ave W Lydia Ln 2016 17,043 0.32 mi
S 35th Ave W la Salle St 2011 18,014 0.33 mi
West Southern Avenue S 37th Ln 2018 22,257 0.34 mi
Roeser Rd S 35th Ave 2014 80 0.48 mi
S 31st Ave W Sunland Ave 2010 2,865 0.48 mi
West Southern Avenue S 31st Ave 2019 28,035 0.49 mi

Listing Broker

Loading...
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

GET IN TOUCH

my activity