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Views: 221 DOM: 300 Updated: 11.08.24 Posted: 02.25.24 Status: Active

Summary

Price $3,450,000
Built/Renov 2000
Tenant Walgreens
Cap Rate 6.61%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,995
Lease Start 07-30-2002
#Units 13,532
Price/SF $230.08
Expiration 07-31-2027
Tenant Type Pharmacy
NOI $228,069
R. Term 2.7
Ownership Fee Simple
Rent/SF $15.21
Increases 0.0%/0/yrs
Pop 5Mi 408,096
Lot/AC 1.88
Options 10/5yrs
AHHI 5Mi $57,414

Lease Highlights

  • Walgreens has been operating in this location since 2002
  • The tenant has 2 years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of West McDowell Road and North 43rd Avenue, with access to a substantial combined daily traffic count of 104,200 vehicles. Furthermore, the site is in close proximity to Highway 17, which sees an additional 288,600 VPD. Conveniently situated immediately off Interstate-10, the property serves as a major connector...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 24,517 133,228 417,035
2023 Total Population : 25,063 134,911 409,501
2023 Employed Civilian Pop : 9,619 55,738 172,792
2023 Total Businesses : 340 3,961 12,276
2023 Average Household Income : $ 57,829 $ 65,950 $ 71,446
2023 Total Consumer Spending : $ 404 M $ 2265 M $ 8113 M
2023 Median Age : 28 27 29
2023 Total Households : 7,837 38,558 128,120
2023 Pop Age 25+: Bachelor's Degree : 574 3,943 25,342
2023 Average Home Value : $ 290,202 $ 272,965 $ 312,569
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N 43rd Ave W Brill St 2015 39,919 0.09 mi
West McDowell Road N 45th Ave 2018 26,730 0.10 mi
North 43rd Avenue W Willetta St 2019 35,919 0.11 mi
N 43rd Ave 2022 12,691 0.20 mi
N 43rd Ave I- 10 2015 47,708 0.23 mi
N 43rd Ave 2022 9,488 0.24 mi
North 43rd Avenue I- 10 2018 55,690 0.25 mi
N 43rd Ave 2022 19,892 0.28 mi
N 43rd Ave 2022 10,473 0.31 mi
W McDowell Rd N 47th Ave 2015 26,602 0.38 mi

Listing Broker

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