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Views: 97 DOM: 200 Updated: 11.22.24 Posted: 06.04.24 Status: Active

Summary

Price $4,493,000
Built/Renov 2006
Tenant Walgreens
Cap Rate 7.10%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,600
Lease Start 11-01-2024
#Units 13,532
Price/SF $1,248.06
Expiration 12-31-2035
Tenant Type Pharmacy
NOI $318,780
R. Term 11.0
Ownership Fee Simple
Rent/SF $88.55
Increases 5.0%/5/yrs
Pop 5Mi 326,449
Lot/AC 1.32
Options 12/5yrs/5%
AHHI 5Mi $87,063

Lease Highlights

  • Walgreens has 11+ 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 option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located on S Ashland Ave and Vermont St, with access to a combined daily traffic count of 26,986 vehicles. The property is conveniently situated near the exit of Interstate 57, which sees 102,000 VPD. Additionally, the area is surrounded by well-known national tenants including Planet Fitness, Aldi, Advanced Auto, McDonald's, and more. Key community educational...

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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
2029 Total Population : 13,929 121,125 313,336
2024 Total Population : 14,451 125,226 324,061
2024 Employed Civilian Pop : 6,853 53,706 142,308
2024 Total Businesses : 411 2,848 8,899
2024 Average Household Income : $ 71,885 $ 76,788 $ 87,411
2024 Total Consumer Spending : $ 374 M $ 3333 M $ 9787 M
2024 Median Age : 39 39 40
2024 Total Households : 5,859 48,786 126,513
2024 Pop Age 25+: Bachelor's Degree : 1,146 11,349 37,124
2024 Average Home Value : $ 276,876 $ 228,255 $ 249,314
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West Vermont Street S Carpenter St 2022 8,300 0.04 mi
W 127th St 2022 94,700 0.06 mi
West Vermont Street Marshfield Ave 2022 107,700 0.07 mi
W 115th St 2022 8,300 0.08 mi
W Vermont Ave Alley 2014 8,400 0.08 mi
2022 6,200 0.11 mi
W Vermont Ave 2022 6,500 0.11 mi
I- 57 W Vermont Ave 2002 103,300 0.13 mi
Ashland Ave 128th St 2014 12,900 0.17 mi
I- 57 W 127th St 2006 97,600 0.19 mi

Listing Broker

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