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Views: 124 DOM: 168 Updated: 11.14.24 Posted: 10.17.24 Status: Active

Summary

Price $3,733,000
Built/Renov 2002
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,667
Lease Start 02-20-2024
#Units 13,532
Price/SF $349.96
Expiration 02-28-2039
Tenant Type Pharmacy
NOI $224,007
R. Term 13.11
Ownership Fee Simple
Rent/SF $21.00
Increases 5.0%/5/yrs
Pop 5Mi 375,447
Lot/AC 1.24
Options 12/5yrs/5%
AHHI 5Mi $111,955

Lease Highlights

  • Walgreens recently signed 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 at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Loch Raven Avenue and Taylor Avenue, the main retail thoroughfare, with access to a substantial combined daily traffic count of 55,600 vehicles. The property is situated within 2 miles of notable national retailers, including Walmart, Target, Lowe’s, Sprouts Market, and more. Additionally, it is conveniently...

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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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Listing Broker

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Patrick Luther

SRS National Net Lease Group

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  • 420 Listings
  • 69695 Views
  • 194 Sold
Andrew Fallon

SRS National Net Lease Group

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  • 83 Listings
  • 14719 Views
  • 31 Sold

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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Andrew Fallon joined SRS in 2020 as executive managing director for the NNLG, and market leader for the newest office in Washington D.C. His expertise encompasses many areas including net lease brokerage, commercial land brokerage, real estate underwriting, and litigation project management. Prior to joining SRS, Andrew was executive managing director with Calkain Companies where he also served as a member on the Executive Committee. As an annual top producer, he closed nearly $1 billion in net

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Matthew Mousavi

SRS National Net Lease Group

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  • 369 Listings
  • 63595 Views
  • 163 Sold

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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