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Views: 130 DOM: 183 Updated: 09.29.24 Posted: 06.22.24 Status: Active

Summary

Price $2,113,000
Built/Renov 1994
Tenant Walgreens
Cap Rate 9.00%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 13,500
Lease Start 08-13-1994
#Units 13,532
Price/SF $156.52
Expiration 08-31-2027
Tenant Type Pharmacy
NOI $190,161
R. Term 2.8
Ownership Fee Simple
Rent/SF $14.09
Increases 0.0%/0/yrs
Pop 5Mi 240,832
Lot/AC 1.50
Options 3/5yrs
AHHI 5Mi $58,871

Lease Highlights

  • Walgreens has been operating in this location since 1994
  • The tenant has 3+ years remaining on the current lease term with 3 (5-year) options to extend
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signaled, hard corner intersection of W North Avenue and N 27th Street, with access to a combined daily traffic count of 32,000 vehicles. The property is situated less than two miles from Marquette University, which boasts a student enrollment of over 11,000 and was recently ranked as the 56th best college in the US by the Wall Street Journal. The...

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Maps

  • 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...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 27,199 228,906 495,918
2024 Total Population : 27,371 228,393 498,457
2024 Employed Civilian Pop : 9,235 105,724 236,682
2024 Total Businesses : 588 9,507 17,734
2024 Average Household Income : $ 48,590 $ 71,503 $ 81,049
2024 Total Consumer Spending : $ 411 M $ 6421 M $ 15143 M
2024 Median Age : 29 32 33
2024 Total Households : 9,341 100,517 210,051
2024 Pop Age 25+: Bachelor's Degree : 1,290 30,194 67,052
2024 Average Home Value : $ 145,062 $ 251,559 $ 282,367
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North 27th Street W North Ave 2019 17,400 0.04 mi
West North Avenue N 28th St 2019 14,300 0.05 mi
West North Avenue N 26th St 2019 16,400 0.09 mi
North 27th Street W Meinecke Ave 2019 17,100 0.12 mi
W North Ave N 29th St 2016 12,600 0.12 mi
W North Ave N 25th St 2016 13,100 0.18 mi
N 27th St W Brown St 2018 16,100 0.21 mi
N 24th Pl W North Ave 2014 1,100 0.22 mi
N 27th St W Wright St 2016 13,300 0.26 mi
W Brown St N 25th St 2014 1,800 0.28 mi

Listing Broker

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