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Views: 61 Updated: 07.15.24 Posted: 07.15.24 Status: Inactive 09.25.24

Summary

Price $4,407,000
Built/Renov 1996
Tenant Walgreens
Cap Rate 5.90%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 13,905
Lease Start 12-09-2014
#Units 13,532
Price/SF $316.94
Expiration 12-31-2074
Tenant Type Pharmacy
NOI $260,024
R. Term 50.0
Ownership Fee Simple
Rent/SF $18.70
Increases 0.0%/0/yrs
Pop 5Mi 205,333
Lot/AC 2.00
Options 0/0yrs
AHHI 5Mi $58,620

Lease Highlights

  • Walgreens has 50+ year remaining on the current lease term with no options remaining
  • The lease features termination options every 5 years beginning in 2029
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of S Lancaster Rd and E Ledbetter Drive, with access to a combined daily traffic count of 47,266 vehicles. The property is conveniently situated 0.8 miles from the North Texas Health Care Veterans Hospital and is surrounded by well-known national tenants such as O’Reilly Auto Parts, Burger King, Chase Bank,...

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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 : 9,633 93,922 205,517
2024 Total Population : 9,561 94,819 205,275
2024 Employed Civilian Pop : 3,978 36,042 87,581
2024 Total Businesses : 212 1,683 4,718
2024 Average Household Income : $ 54,641 $ 53,282 $ 63,810
2024 Total Consumer Spending : $ 160 M $ 1495 M $ 3889 M
2024 Median Age : 38 35 35
2024 Total Households : 3,247 30,985 67,688
2024 Pop Age 25+: Bachelor's Degree : 559 5,760 14,727
2024 Average Home Value : $ 188,003 $ 232,633 $ 279,062
*ESRI data is presented for informational purposes only

Listing Broker

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