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Views: 121 DOM: 201 Updated: 09.18.24 Posted: 06.07.24 Status: Active

Summary

Price $4,129,000
Built/Renov 2005/2011
Tenant Walgreens
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,672
Lease Start 03-02-2006
#Units 13,532
Price/SF $281.42
Expiration 03-31-2031
Tenant Type Pharmacy
NOI $289,000
R. Term 6.3
Ownership Fee Simple
Rent/SF $19.70
Increases 0.0%/0/yrs
Pop 5Mi 196,392
Lot/AC 1.44
Options 10/5yrs
AHHI 5Mi $135,894

Lease Highlights

  • Walgreens has been operating in this location since 2006
  • The tenant has 6+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Pilot Knob Rd. and 140th St W, with access to a combined daily traffic count of 42,800 vehicles. The property is situated in a dense retail corridor, surrounded by well-known national tenants including Kohl’s, Home Depot, Sam’s Club, Ulta, Anytime Fitness, Michaels, and more. Moreover, the site benefits from...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Walgreens
  • Guarantor:Corp T and Rated
  • Company:Walgreens Boots Alliance
  • # Units:13,532
  • Tenant S&P: BBB-
  • Moody’s: Baa2
  • Stock: NASDAQ: WBA

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 : 8,497 86,772 203,184
2024 Total Population : 8,742 83,640 196,953
2024 Employed Civilian Pop : 4,425 45,877 109,787
2024 Total Businesses : 198 1,730 3,764
2024 Average Household Income : $ 131,445 $ 141,775 $ 142,173
2024 Total Consumer Spending : $ 382 M $ 3775 M $ 8886 M
2024 Median Age : 43 40 39
2024 Total Households : 3,378 30,936 72,541
2024 Pop Age 25+: Bachelor's Degree : 2,025 18,684 44,117
2024 Average Home Value : $ 406,819 $ 440,115 $ 445,609
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
140th St W Pilot Knob Rd 2014 8,800 0.05 mi
140th Street West 141st St W 2018 8,900 0.11 mi
142nd St W Euclid Ave 2014 2,150 0.23 mi
140th St W Everest Ave 2018 16,600 0.28 mi
142nd Street West Eveleth Ave 2018 2,150 0.36 mi
Ellice Trl W Pilot Knob Rd 2014 1,550 0.47 mi
Johnny Cake Ridge Rd 140th St W 2014 7,500 0.53 mi
Johnny Cake Ridge Rd 139th St W 2014 7,700 0.55 mi
140th Street West Drommond Trl 2018 7,400 0.60 mi
Pilot Knob Rd Embry Way 2019 13,400 0.63 mi

Listing Broker

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