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Views: 89 DOM: 178 Updated: 08.14.24 Posted: 03.14.24 Status: Active

Summary

Price $7,560,000
Built/Renov 1999
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 15,120
Lease Start 09-01-2022
#Units 13,532
Price/SF $500.00
Expiration 08-31-2035
Tenant Type Pharmacy
NOI $453,600
R. Term 10.12
Ownership Fee Simple
Rent/SF $30.00
Increases 5.0%/3/yrs
Pop 5Mi 43,614
Lot/AC 1.90
Options 12/5yrs/5%
AHHI 5Mi $55,651

Lease Highlights

  • Walgreens has 11+ years remaining on the current lease term with 12 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner location of 119th St and 7th Ave, with access to a substantial combined daily traffic count of 77,000 vehicles. The surrounding area features well-known national tenants, including McDonald's, Advance Auto Parts, 7-Eleven, KFC, and many more. The 5-mile trade area boasts a population of 43,614 residents with an average household...

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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 : 23,612 193,006 469,012
2023 Total Population : 23,912 194,528 467,642
2023 Employed Civilian Pop : 11,104 88,891 217,561
2023 Total Businesses : 770 8,574 26,609
2023 Average Household Income : $ 69,161 $ 70,006 $ 70,729
2023 Total Consumer Spending : $ 406 M $ 4053 M $ 10004 M
2023 Median Age : 36 37 38
2023 Total Households : 6,730 66,146 161,607
2023 Pop Age 25+: Bachelor's Degree : 1,541 18,532 47,283
2023 Average Home Value : $ 354,125 $ 426,535 $ 440,319
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
NW 119th St NW 8th Ave 2005 44,500 0.04 mi
NW 7th Ave NW 118th St 2009 33,500 0.08 mi
NW 119th St NW 7th Ave 2004 48,270 0.08 mi
NW 6th Ave 2022 8,000 0.13 mi
NW 7th Ave NW 121st St 2009 29,500 0.14 mi
NW 117th St 2022 6,300 0.19 mi
Express Lanes NW 122nd St 2019 35,000 0.26 mi
NW 123rd St 2022 6,800 0.35 mi
NW 124th St 2022 7,100 0.35 mi
NW 125th St I- 95 2004 27,200 0.41 mi

Listing Broker

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