Walgreens

9801 Manchester Road, Rock Hill, MO 63119

$5,101,967

Cap Rate 6.10%

Views: 117 DOM: 338 Updated: 10.10.24 Posted: 01.18.24 Status: Active

Summary

Price $5,101,967	Built/Renov 2006	Tenant Walgreens
Cap Rate 6.10%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 14,820	Lease Start 11-21-2023	#Units 13,532
Price/SF $344.26	Expiration 11-30-2038	Tenant Type Pharmacy
NOI $311,220	R. Term 13.11	Ownership Fee Simple
Rent/SF $21.00	Increases 5.0%/4/yrs	Pop 5Mi 257,175
Lot/AC 1.95	Options 12/5yrs/5%	AHHI 5Mi $146,473

Lease Highlights

Walgreens recently executed a brand-new 15-year lease with 12 (5-year) options to extend
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 Manchester Road and Kortwright Avenue, benefiting from a combined daily traffic count of 10,722 vehicles. Positioned half a mile west of South McKnight Road (7,237 VPD) and 2 miles south of Interstate 64 (63,178 VPD), the property is conveniently located. Additionally, it is adjacent to the Rock Hill Public...

...

Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Brand new lease
Absolute NNN
Traded and rated company
Investment grade tenant

...

Links

Walgreens Wikipedia Walgreens Wikipedia Rock Hill, Missouri Zip Code 63119 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:13,532
Tenant S&P: BBB-
Moody’s: Baa2
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 :	9,930	86,429	255,349
2023 Total Population :	10,145	87,112	257,175
2023 Employed Civilian Pop :	5,453	47,130	141,099
2023 Total Businesses :	384	4,572	12,786
2023 Average Household Income :	$ 170,748	$ 163,473	$ 146,473
2023 Total Consumer Spending :	$ 597 M	$ 5109 M	$ 14054 M
2023 Median Age :	41	43	42
2023 Total Households :	4,132	36,952	112,949
2023 Pop Age 25+: Bachelor's Degree :	2,844	22,940	64,108
2023 Average Home Value :	$ 427,956	$ 513,014	$ 459,683

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North Berry Road	Manchester Rd	2013	9,350	0.29 mi
Manchester Rd	Leonard Dr	2012	26,166	0.35 mi
Bismark Avenue	Hinsdale Ct	2022	1,015	0.43 mi
N Rock Hill Rd	Inglewood Ct	2012	10,968	0.52 mi
South McKnight Road	Manchester Rd	2017	20,750	0.56 mi
Manchester Rd	Warson Woods Blvd	2013	26,166	0.58 mi
Old Warson Rd	McKinley Ave	2012	2,460	0.60 mi
S McKnight Rd	Manchester Rd	2013	14,439	0.60 mi
Old Warson Road	Overbrook Dr	2022	1,359	0.62 mi
North Rock Hill Road	Oak Ave	2022	4,108	0.62 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
16763 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
16913 Views
60 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

...

Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

...

Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
16914 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

...

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