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Views: 133 DOM: 605 Updated: 08.14.24 Posted: 01.23.23 Status: Active

Summary

Price $9,600,000
Built/Renov 2012
Tenant Walgreens
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,643
Lease Start 04-14-2022
#Units 13,532
Price/SF $703.66
Expiration 04-30-2037
Tenant Type Pharmacy
NOI $480,000
R. Term 12.7
Ownership Fee Simple
Rent/SF $35.18
Increases 5.0%/4/yrs
Pop 5Mi 82,318
Lot/AC 1.27
Options 12/5yrs/5%
AHHI 5Mi $74,991

Lease Highlights

  • Walgreens has been operating in this location since 2012
  • The tenant has over 14 years remaining on its current lease with 12 (5-year) options to extend
  • Lease features 5% rental escalations throughout the initial term and at each option
  • Absolute NNN lease zero landlord responsibilities 
  • Corporate guarantee by Walgreens Boots Alliance, Inc (NASDAQ: WBA)
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

Walgreens is located at the signalized, hard-corner intersection of Jackson Park Road and North Cannon Boulevard which sees over 37,000 vehicles per day. Located within a major retail corridor, the subject property is surrounded by many national tenants including Burger King, McDonald’s, Dollar General, Dollar Tree, Food Lion, Pizza Hut, Hardee’s, Big Lots, and many others. The site is...

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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 : 7,408 48,369 84,596
2023 Total Population : 7,258 45,093 79,200
2023 Employed Civilian Pop : 2,993 20,061 36,914
2023 Total Businesses : 254 1,204 2,487
2023 Average Household Income : $ 66,950 $ 74,805 $ 81,254
2023 Total Consumer Spending : $ 171 M $ 1165 M $ 2240 M
2023 Median Age : 39 39 40
2023 Total Households : 2,920 17,672 31,471
2023 Pop Age 25+: Bachelor's Degree : 1,031 4,744 8,519
2023 Average Home Value : $ 215,983 $ 223,471 $ 275,138
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Jackson Park Rd N Cannon Blvd 2018 10,500 0.03 mi
North Cannon Boulevard N Cannon Blvd 2018 14,000 0.05 mi
Lane St Brantley Rd 2018 14,500 0.07 mi
North Cannon Boulevard N Cannon Blvd 2018 21,000 0.09 mi
Jackson Park Rd McCombs Ave 2014 10,000 0.09 mi
N Cannon Blvd Venus St 2016 20,000 0.13 mi
Brantley Rd N Little Texas Rd 2016 3,200 0.20 mi
Louise Ave LnSt 2018 1,800 0.20 mi
Lane St Louise Ave 2016 11,000 0.22 mi
Jackson St N Cannon Blvd 2016 3,100 0.22 mi

Listing Broker

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