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Views: 93 DOM: 191 Updated: 09.29.24 Posted: 06.14.24 Status: Active

Summary

Price $4,200,000
Built/Renov 2008
Tenant Walgreens
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,650
Lease Start 10-06-2008
#Units 13,532
Price/SF $307.69
Expiration 10-31-2033
Tenant Type Pharmacy
NOI $336,000
R. Term 8.10
Ownership Fee Simple
Rent/SF $24.62
Increases 0.0%/0/yrs
Pop 5Mi 9,010
Lot/AC 1.48
Options 0/0yrs
AHHI 5Mi $57,063

Lease Highlights

  • Walgreens has a 15+ year operating history at this location
  • The tenant currently has 9+ years of firm term remaining
  • Automatic renewal through October 31, 2083
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of South Liberty Street and Manau Street, a significant east-west thoroughfare, with access to a combined daily traffic count of 14,000 vehicles. The property benefits from multiple points of ingress/egress and is surrounded by well-known national retailers such as Walmart, Huddle House, Subway, Zaxby’s, McDonald’s,...

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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 : 3,870 8,155 9,982
2024 Total Population : 3,853 8,134 9,980
2024 Employed Civilian Pop : 1,431 3,069 3,841
2024 Total Businesses : 264 426 448
2024 Average Household Income : $ 72,552 $ 69,503 $ 72,878
2024 Total Consumer Spending : $ 101 M $ 205 M $ 265 M
2024 Median Age : 39 37 38
2024 Total Households : 1,580 3,313 4,074
2024 Pop Age 25+: Bachelor's Degree : 345 666 895
2024 Average Home Value : $ 208,615 $ 250,994 $ 260,999
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Liberty Street W 4th St 2019 11,100 0.07 mi
Old Herndon Road 4th St Exit 2019 3,730 0.12 mi
Shadrack Street W 5th St 2019 690 0.25 mi
Legion Drive Legion Rd 2019 50 0.29 mi
Jones Avenue W 5th St 2019 700 0.30 mi
Old Herndon Road Victory Dr 2018 3,020 0.42 mi
Old Herndon Road Victory Dr 2019 2,840 0.42 mi
W 6th St Shadrack St 2008 9,870 0.46 mi
W 4th St Red Bud Ln 2016 2,910 0.46 mi
Myrick Street Ct St 2019 1,520 0.47 mi

Listing Broker

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