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Views: 67 DOM: 244 Updated: 06.18.24 Posted: 01.17.24 Status: Active

Summary

Price $2,106,000
Built/Renov 2003
Tenant Walgreens (GL)
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 12,640
Lease Start 12-01-1997
#Units 13,532
Price/SF $166.61
Expiration 04-01-2028
Tenant Type Pharmacy
NOI $136,896
R. Term 3.6
Ownership Ground Lease
Rent/SF $10.83
Increases 10.0%/4/yrs
Pop 5Mi 225,404
Lot/AC 0.46
Options 5/5yrs/10%
AHHI 5Mi $85,666

Lease Highlights

  • Walgreens has been operating in this location for over 25 years
  • The tenant has 4 years remaining on the current ground lease term with 5 (5-year) options to extend
  • Lease features 10% rental increases at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Ingersoll Ave, a major thoroughfare, and 35th St., with a combined daily traffic count of 20,000 vehicles. The property is conveniently situated just across 35th St from the Price Chopper grocery store. Additionally, the site is in close proximity to several educational institutions, including Drake University,...

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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 : 13,846 97,497 230,435
2023 Total Population : 13,484 94,804 225,404
2023 Employed Civilian Pop : 7,406 52,409 121,537
2023 Total Businesses : 578 4,976 10,045
2023 Average Household Income : $ 94,558 $ 89,038 $ 85,666
2023 Total Consumer Spending : $ 547 M $ 3348 M $ 7090 M
2023 Median Age : 40 36 37
2023 Total Households : 6,677 43,280 95,266
2023 Pop Age 25+: Bachelor's Degree : 3,316 19,307 37,184
2023 Average Home Value : $ 331,342 $ 264,053 $ 237,007
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Ingersoll Ave 35th St 2000 13,900 0.03 mi
35th St Ingersoll Ave 2016 4,380 0.03 mi
Ingersoll Ave 34th St 2012 15,900 0.07 mi
35th St Grand Ave 2008 3,880 0.09 mi
Grand Ave 36th St 2008 13,500 0.15 mi
Grand Ave 35th St 2000 17,100 0.16 mi
Ingersoll Ave Crescent Dr 2016 10,800 0.19 mi
Grand Ave 31st St 2000 16,200 0.24 mi
31st St Ingersoll Ave 2000 9,900 0.27 mi
31st St Ingersoll Ave 2000 6,600 0.27 mi

Listing Broker

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