loader
Join Free
Views: 117 DOM: 525 Updated: 08.14.24 Posted: 04.13.23 Status: Active

Summary

Price $10,000,000
Built/Renov 2012
Tenant Walgreens (GL) (Dark) | Richmond University Medical Center (Sublease)
Cap Rate 5.14%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,961
Lease Start 02-11-2013
#Units 13,532
Price/SF $716.28
Expiration 02-28-2038
Tenant Type Pharmacy
NOI $514,250
R. Term 13.5
Ownership Ground Lease
Rent/SF $36.83
Increases 10.0%/5/yrs
Pop 5Mi 495,000
Lot/AC 0.72
Options 4/5yrs/10%
AHHI 5Mi $110,378

Lease Highlights

  • Walgreens has 14+ years remaining on base period with 4 (5-year) and 1 (4-year) option to extend
  • Lease features a rental increase of 10% throughout base and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Tenant pays below market rent of $36.83 PSF
  • Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

This property is located at the high profile corner location of Clove Rd. and Victory Blvd., featuring a traffic count of 31,874 cars passing by daily, and is within 1 mile of I-278 (Staten Island Expressway), with a traffic count of 162,000 cars per day. Visibility is further supported by the S53 Clove Road/Victory Blvd. bus stop at the intersection, which boasts an annual ridership of 1.7...

...

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...


...

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity