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Views: 111 DOM: 197 Updated: 11.08.24 Posted: 06.07.24 Status: Active

Summary

Price $3,988,000
Built/Renov 2005
Tenant Walgreens
Cap Rate 8.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,560
Lease Start 10-01-2005
#Units 13,532
Price/SF $273.90
Expiration 09-30-2030
Tenant Type Pharmacy
NOI $339,000
R. Term 5.9
Ownership Fee Simple
Rent/SF $23.28
Increases 0.0%/0/yrs
Pop 5Mi 38,740
Lot/AC 1.31
Options 10/5yrs
AHHI 5Mi $65,991

Lease Highlights

  • Walgreens has been operating in this location since 2005
  • The tenant has 5+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Highway 49 and Scarbrough Street, with access to a robust combined daily traffic count of 50,700 vehicles. The property is positioned directly across from Richland High School, which has an enrollment of 800 students. Surrounding the area are well-known national tenants such as Walmart, Kroger, Burger King,...

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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 : 4,747 11,170 38,292
2024 Total Population : 4,717 11,091 38,136
2024 Employed Civilian Pop : 2,384 5,157 16,336
2024 Total Businesses : 191 504 1,554
2024 Average Household Income : $ 70,015 $ 67,247 $ 69,783
2024 Total Consumer Spending : $ 112 M $ 250 M $ 838 M
2024 Median Age : 36 38 37
2024 Total Households : 1,799 4,165 13,486
2024 Pop Age 25+: Bachelor's Degree : 559 1,159 3,926
2024 Average Home Value : $ 154,080 $ 183,446 $ 198,265
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Scarbrough Street Scarbrough Cir 2021 7,700 0.03 mi
Scarbrough St Karlie Dr 2018 7,600 0.04 mi
US Hwy 49 Wilson Dr 2008 44,000 0.05 mi
US 49 Hwy 49 2018 42,000 0.14 mi
Industrial Drive Washington Ave 2021 3,900 0.28 mi
Wilson Drive Richland Cir 2018 2,800 0.32 mi
Wilson Drive Richland Cir 2021 2,600 0.35 mi
US Hwy 49 Richland Cir 2009 43,000 0.36 mi
East Harper Street Southwind Dr 2021 4,600 0.46 mi
E Harper St Southwind Dr 2009 4,030 0.46 mi

Listing Broker

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