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Views: 60 DOM: 65 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 14.2
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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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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Listing Broker

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