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Views: 43 DOM: 52 Updated: 07.18.24 Posted: 07.18.24 Status: Active

Summary

Price $4,521,703
Built/Renov 2003
Tenant Walgreens
Cap Rate 6.75%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 13,905
Lease Start 06-01-2003
#Units 13,532
Price/SF $325.19
Expiration 07-31-2036
Tenant Type Pharmacy
NOI $305,215
R. Term 11.11
Ownership Fee Simple
Rent/SF $21.95
Increases 0.0%/0/yrs
Pop 5Mi 54,142
Lot/AC 2.22
Options 4/5yrs
AHHI 5Mi $153,758

Lease Highlights

  • Walgreens has been operating in this location for over 20 years
  • The tenant recently extended its base term lease for an additional 12 years with 4 (5-year) options to extend
  • Outstanding reported sales of $4.6M+
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located on N. Port Washington Road, a prominent north-south thoroughfare with access to 16,860 vehicles passing by daily. The property benefits from its location within a thriving commercial corridor surrounded by well-known national tenants including McDonald’s, Starbucks, PNC Bank, Metro, Dunkin’, and more. Additionally, it enjoys close proximity to the on/off...

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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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Listing Broker

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