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Views: 102 DOM: 472 Updated: 08.06.24 Posted: 06.02.23 Status: Active

Summary

Price $2,174,103
Built/Renov 1999
Tenant Walgreens
Cap Rate 7.75%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 10,908
Lease Start 07-01-1999
#Units 13,532
Price/SF $199.31
Expiration 07-31-2024
Tenant Type Pharmacy
NOI $168,493
R. Term 0.1
Ownership Fee Simple
Rent/SF $15.45
Increases 10.0%/1/yrs
Pop 5Mi 75,833
Lot/AC 1.77
Options 3/5yrs/10%
AHHI 5Mi $63,173

Lease Highlights

  • Walgreens took over this location from Rite Aid in 2018
  • Tenant has over 1 year remaining on the current lease term with 3 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option period
  • Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

This 10,908 square foot Walgreens is situated on a 1.77 acre parcel at the signalized, hard corner intersection of North Slappey Boulevard and Palmyra Road with access to a combined 32,00 vehicles per day. The site is equipped with a drive-thru for customer ease and access. The tenant is directly across from the Phoebe North Campus Hospital (124 beds), providing a direct consumer base for the...

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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 : 5,125 35,912 75,092
2023 Total Population : 5,250 36,055 75,763
2023 Employed Civilian Pop : 2,282 15,719 30,652
2023 Total Businesses : 298 2,555 3,447
2023 Average Household Income : $ 77,096 $ 77,289 $ 72,747
2023 Total Consumer Spending : $ 157 M $ 1057 M $ 1977 M
2023 Median Age : 38 37 36
2023 Total Households : 2,323 15,627 31,097
2023 Pop Age 25+: Bachelor's Degree : 523 3,713 7,822
2023 Average Home Value : $ 156,807 $ 186,252 $ 188,829
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Palmyra Rd 16th Ave 2005 13,740 0.15 mi
North Slappey Boulevard 5th Ave 2021 24,300 0.17 mi
North Slappey Boulevard Acker Dr 2019 21,700 0.17 mi
North Slappey Boulevard 20th Ave 2019 22,000 0.24 mi
Palmyra Road Ken Gardens Rd 2019 5,750 0.28 mi
Stuart Avenue Palmyra Rd 2021 7,610 0.28 mi
Stuart Avenue 2019 8,230 0.28 mi
Stuart Avenue Hoover St 2018 8,160 0.28 mi
Palmyra Road Brickline Ct 2021 10,300 0.32 mi
Palmyra Road 2019 10,700 0.32 mi

Listing Broker

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