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Views: 159 DOM: 323 Updated: 11.21.24 Posted: 02.02.24 Status: Active

Summary

Price $2,924,000
Built/Renov 2008
Tenant Walgreens
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 11,984
Lease Start 11-01-2023
#Units 13,532
Price/SF $243.99
Expiration 11-01-2038
Tenant Type Pharmacy
NOI $182,760
R. Term 13.10
Ownership Fee Simple
Rent/SF $15.25
Increases 5.0%/5/yrs
Pop 5Mi 5,157
Lot/AC 0.99
Options 12/5yrs/5%
AHHI 5Mi $86,182

Lease Highlights

  • Walgreens has 13 years remaining on the current lease term with 12 (5-year) options to extend
  • The lease features 5% rental increases every 5 years throughout the initial term and each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of N. Park St. and E. Main St., with a combined daily traffic count of 11,300 vehicles. The property holds a prominent position within a primary retail corridor, and it is surrounded by other widely recognized national and credit tenants such as Dollar General, O’Reilly Auto Parts, Subway, Ace Hardware, and more....

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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 : 1,829 2,851 5,076
2023 Total Population : 1,857 2,896 5,157
2023 Employed Civilian Pop : 842 1,389 2,569
2023 Total Businesses : 118 142 195
2023 Average Household Income : $ 71,139 $ 79,615 $ 86,182
2023 Total Consumer Spending : $ 52 M $ 88 M $ 167 M
2023 Median Age : 48 48 48
2023 Total Households : 832 1,270 2,230
2023 Pop Age 25+: Bachelor's Degree : 264 389 656
2023 Average Home Value : $ 256,121 $ 267,211 $ 273,162
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Park St Ave A 2006 6,220 0.08 mi
South Park Street Mountain View Dr 2021 5,374 0.18 mi
CR 67 Division St 2021 1,342 0.18 mi
Ave B 2021 314 0.20 mi
Division St 2021 401 0.23 mi
Gilbert Street Furnace St 2021 1,384 0.29 mi
West Main Street Railroad Ave 2021 5,065 0.54 mi
State Rte 22 Co Rd 71 2018 4,588 0.79 mi
CR 71 Co Rd 71 2021 1,023 0.82 mi
CR 59 Co Rte 59 2021 1,279 1.16 mi

Listing Broker

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