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Views: 89 DOM: 142 Updated: 11.22.24 Posted: 08.01.24 Status: Active

Summary

Price $4,723,200
Built/Renov 1991
Tenant Walgreens
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,747
Lease Start 02-23-2023
#Units 13,532
Price/SF $320.28
Expiration 02-28-2038
Tenant Type Pharmacy
NOI $295,200
R. Term 13.2
Ownership Fee Simple
Rent/SF $20.02
Increases 5.0%/5/yrs
Pop 5Mi 157,300
Lot/AC 2.57
Options 12/5yrs/5%
AHHI 5Mi $92,805

Lease Highlights

  • 15-year lease with 12 (5-year) options to extend
  • The lease features 5% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized hard corner intersection of Northland Boulevard and Springfield Pike, with access to a combined daily traffic count of 32,094 vehicles. The property is surrounded by well-known national tenants including Aldi, Jersey Mike's, PNC Bank, Five Below, Lowe's, and more. The 5-mile trade area supports a population of 157,300 residents with an...

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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
2029 Total Population : 9,671 52,816 159,848
2024 Total Population : 9,126 52,386 159,311
2024 Employed Civilian Pop : 4,813 27,550 82,680
2024 Total Businesses : 830 3,561 8,295
2024 Average Household Income : $ 94,941 $ 90,524 $ 97,775
2024 Total Consumer Spending : $ 320 M $ 1687 M $ 5506 M
2024 Median Age : 41 39 39
2024 Total Households : 3,804 21,112 63,891
2024 Pop Age 25+: Bachelor's Degree : 982 7,940 24,083
2024 Average Home Value : $ 212,158 $ 253,171 $ 270,916
*ESRI data is presented for informational purposes only

Listing Broker

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