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Views: 30 DOM: 64 Updated: 09.18.24 Posted: 09.18.24 Status: Active

Summary

Price $3,645,000
Built/Renov 2006
Tenant Walgreens (LH)
Cap Rate 9.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,820
Lease Start 04-28-2006
#Units 13,532
Price/SF $245.95
Expiration 03-31-2031
Tenant Type Pharmacy
NOI $328,000
R. Term 6.4
Ownership Leasehold
Rent/SF $22.13
Increases 0.0%/0/yrs
Pop 5Mi 95,118
Lot/AC 3.19
Options 10/5yrs
AHHI 5Mi $140,764

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 lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located on Solomons Island Road, with access to 50,407 vehicles passing by daily. The property is close to several prestigious universities, including The University of Maryland, Georgetown University, The George Washington University, and The American University. It is also conveniently positioned near US Route 50 and within 25 miles of downtown Washington, DC. The...

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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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Listing Broker

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