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Views: 50 DOM: 36 Updated: 10.16.24 Posted: 10.16.24 Status: Active

Summary

Price $4,567,000
Built/Renov 2000/2010
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 16,844
Lease Start 02-20-2024
#Units 13,532
Price/SF $271.14
Expiration 02-20-2039
Tenant Type Pharmacy
NOI $273,996
R. Term 14.3
Ownership Fee Simple
Rent/SF $16.27
Increases 5.0%/5/yrs
Pop 5Mi 153,387
Lot/AC 2.33
Options 12/5yrs/5%
AHHI 5Mi $77,668

Lease Highlights

  • Walgreens has 14 years remaining on the current lease term with 12 (5-year) options to extend
  • The lease features 5% rental increases every 5 years throughout the initial term and at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Palm Bay Road NE and Dairy Road, a major retail corridor with access to a significant combined daily traffic count of 71,500 vehicles. The property is surrounded by prominent national retailers, such as Walmart Supercenter, Target, Sprouts Farmers Market, and ALDI, as well as an adjacent 7-Eleven that includes a...

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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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Listing Broker

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