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Views: 261 DOM: 137 Updated: 10.31.24 Posted: 08.06.24 Status: Active

Summary

Price $5,808,000
Built/Renov 2006
Tenant Walgreens
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,820
Lease Start 08-12-2006
#Units 13,532
Price/SF $391.90
Expiration 08-31-2031
Tenant Type Pharmacy
NOI $363,000
R. Term 6.8
Ownership Fee Simple
Rent/SF $24.49
Increases 0.0%/0/yrs
Pop 5Mi 197,624
Lot/AC 1.87
Options 0/0yrs
AHHI 5Mi $77,002

Lease Highlights

  • Walgreens has 6+ years remaining on the current lease term
  • Options: 75 years, cancellable by Tenant after 25 years and each 5 years thereafter up to 08/31/2081
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the hard-corner intersection of U.S. Route 9 and Lakewood Road, a major north-south corridor with access to a combined daily traffic count of 30,511 vehicles. The property is directly across the street from McDonald's, Wells Fargo Bank, Stop & Shop, and Starbucks. Additionally, it is adjacent to TD Bank and near a Ramada by Wyndham Hotel. The Garden State...

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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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Traffic

Collection Street Cross Street Year Traffic Vol Distance
Lakewood Rd 2018 628 0.17 mi
Lakewood Rd 2018 2,295 0.18 mi
Lakewood Rd 2018 1,190 0.19 mi
Lakewood Road N Maple Ave 2018 18,311 0.19 mi
Lakewood Rd 2018 2,742 0.20 mi
Lakewood Rd 2018 2,849 0.20 mi
Lakewood Rd 2018 1,176 0.21 mi
Lakewood Rd River Ave 2003 26,170 0.23 mi
Locust St State Rte70 2003 4,830 0.27 mi
John Davidson Rockefeller Memorial Highway Massachusetts Ave 2018 24,086 0.28 mi

Listing Broker

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