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Views: 177 DOM: 646 Updated: 11.02.24 Posted: 06.03.23 Status: Active

Summary

Price $1,362,499
Built/Renov 1997
Tenant Walgreens
Cap Rate 8.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 10,750
Lease Start 05-01-1997
#Units 13,532
Price/SF $126.74
Expiration 05-31-2027
Tenant Type Pharmacy
NOI $109,000
R. Term 2.2
Ownership Fee Simple
Rent/SF $10.14
Increases 5.0%/4/yrs
Pop 5Mi 46,133
Lot/AC 1.76
Options 5/5yrs/5%
AHHI 5Mi $96,716

Lease Highlights

  • Walgreens took over this location from Rite Aid in 2018 
  • Tenant has 2+ years remaining on its current lease term with 5 (5-year) options to extend 
  • 5% rental escalations in each renewal option  
  • Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA) 
  • Walgreens is an investment grade tenant (S&P: BBB) 

Location Description

The 10,750 square-foot building which features a drive-thru benefits from its position along Ribaut Road (23,500 VPD). Ribaut Road is a major north-south corridor that connects the main metropolitan areas around the property such as Savannah and Hilton Head. There are several neighboring tenants including Piggly Wiggly, ACE Hardware, Hardee’s, Fresenius, Burger King, and others. The property...

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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 : 5,958 19,900 46,658
2023 Total Population : 5,944 20,056 46,499
2023 Employed Civilian Pop : 3,155 8,782 18,060
2023 Total Businesses : 168 1,324 1,864
2023 Average Household Income : $ 100,846 $ 96,963 $ 90,714
2023 Total Consumer Spending : $ 252 M $ 731 M $ 1355 M
2023 Median Age : 37 38 33
2023 Total Households : 2,850 8,669 17,203
2023 Pop Age 25+: Bachelor's Degree : 777 2,791 5,496
2023 Average Home Value : $ 401,001 $ 456,732 $ 413,716
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Mossy Oaks Road McTeer Cir 2021 2,200 0.05 mi
Ribaut Road Sutcliffe Dr 2021 18,900 0.11 mi
Ribaut Rd Southside Blvd 2005 23,500 0.25 mi
Southside Boulevard Waverly Way 2021 1,600 0.26 mi
1st Boulevard Ribaut Rd 2021 1,750 0.34 mi
Southside Blvd Twin Lakes Rd 2005 1,950 0.36 mi
1st Blvd Bowling Ln 2010 2,200 0.37 mi
Ladys Island Drive Ribaut Rd 2021 2,300 0.48 mi
Ribaut Road Pine Ct S 2021 17,200 0.49 mi
1st Boulevard Center Dr W 2021 1,000 0.51 mi

Listing Broker

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