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Views: 123 DOM: 263 Updated: 08.31.24 Posted: 02.25.24 Status: Active

Summary

Price $8,364,000
Built/Renov 2011
Tenant Walgreens
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,550
Lease Start 10-01-2011
#Units 13,532
Price/SF $574.85
Expiration 09-30-2074
Tenant Type Pharmacy
NOI $460,000
R. Term 49.11
Ownership Fee Simple
Rent/SF $31.62
Increases 0.0%/0/yrs
Pop 5Mi 146,507
Lot/AC 2.50
Options 10/5yrs
AHHI 5Mi $83,506

Lease Highlights

  • Walgreens has 62+ years remaining on the current lease term | Lease ends September 2086
  • The lease features a termination option in year 25 (9/30/2036) of the lease, with every 5 years following
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Ashley Phosphate Rd and Rivers Ave, with access to a combined daily traffic count of 115,800 vehicles. Conveniently, the property is situated less than half a mile from I-26 (111,000 VPD). Within a 1-mile radius, there is over 4.7 million square feet of retail space, with well-known national tenants in the area...

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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 : 8,385 66,110 153,419
2023 Total Population : 8,193 62,292 146,507
2023 Employed Civilian Pop : 4,253 30,794 70,939
2023 Total Businesses : 611 2,365 4,991
2023 Average Household Income : $ 62,471 $ 76,713 $ 83,506
2023 Total Consumer Spending : $ 203 M $ 1645 M $ 4175 M
2023 Median Age : 33 33 33
2023 Total Households : 3,679 24,428 57,263
2023 Pop Age 25+: Bachelor's Degree : 888 8,358 19,298
2023 Average Home Value : $ 263,377 $ 284,348 $ 273,035
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
I 26 I- 26 2021 109,800 0.46 mi
I- 26 Ashley Phosphate Rd 2018 115,000 0.47 mi
Mazyck Road Fassitt Rd 2022 3,300 0.52 mi
Rivers Avenue Eagle Landing Blvd 2022 42,600 0.54 mi
I-26 SB 2022 51,600 0.62 mi
Ashley Phosphate Road Mazyck Rd 2022 73,200 0.76 mi
Stall Road Fassitt Rd 2022 14,200 0.87 mi
Orvin Street Midland PkRd 2022 1,000 1.15 mi
Midland Park Road Kimbell Rd 2022 11,300 1.18 mi
Palmetto Commerce Parkway Ashley Phosphate Rd 2021 11,600 1.30 mi

Listing Broker

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