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Views: 103 DOM: 159 Updated: 10.23.24 Posted: 06.15.24 Status: Active

Summary

Price $3,965,000
Built/Renov 1998
Tenant Walgreens
Cap Rate 7.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 13,905
Lease Start 06-01-1998
#Units 13,532
Price/SF $285.15
Expiration 05-31-2039
Tenant Type Pharmacy
NOI $277,405
R. Term 14.6
Ownership Fee Simple
Rent/SF $19.95
Increases 0.0%/0/yrs
Pop 5Mi 69,388
Lot/AC 1.44
Options 7/5yrs
AHHI 5Mi $84,773

Lease Highlights

  • Walgreens has been operating in this location since 1998
  • The tenant has 14+ years remaining on the current lease term with 7 (5-year) options to extend
  • Nationally top performing sales of $4.5mm reported 
  • Corporate guarantee (NASDAQ: WBA)
  • Investment grade tenant (S&P: BBB-)

Location Description

Walgreens is strategically located at the signalized hard corner intersection of Milton Ave and Black Bridge Rd, with access to a combined daily traffic count of 32,900 vehicles. The property is about one mile south of Uptown Janesville Shopping Mall, the largest enclosed shopping venue in Rock County, boasting over 7 million shoppers annually. The mall features well-known national brand...

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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
2029 Total Population : 8,359 53,849 69,923
2024 Total Population : 8,369 53,566 69,753
2024 Employed Civilian Pop : 4,369 27,406 35,360
2024 Total Businesses : 394 2,230 2,633
2024 Average Household Income : $ 72,888 $ 86,567 $ 88,901
2024 Total Consumer Spending : $ 240 M $ 1728 M $ 2272 M
2024 Median Age : 41 41 41
2024 Total Households : 3,744 22,696 29,114
2024 Pop Age 25+: Bachelor's Degree : 913 7,278 9,170
2024 Average Home Value : $ 201,604 $ 263,350 $ 269,471
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Milton Avenue Kennedy Rd 2019 25,000 0.07 mi
Milton Ave Randolph Rd 2016 26,300 0.09 mi
Milton Avenue Newman St 2019 22,600 0.16 mi
Randolph Rd Milton Ave 2019 5,100 0.17 mi
Kennedy Rd Norwood Rd 2019 4,500 0.17 mi
N Randall Ave Black Bridge Rd 2019 5,900 0.20 mi
Milton Ave Creston PkDr 2016 20,600 0.26 mi
Mount Zion Ave N Ringold St 2019 6,400 0.29 mi
N Randall Ave Mount Zion Ave 2019 5,400 0.39 mi
Milton Avenue Refset Dr 2019 24,700 0.42 mi

Listing Broker

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