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Views: 126 DOM: 222 Updated: 08.12.24 Posted: 05.28.24 Status: Active

Summary

Price $5,880,251
Built/Renov 2010
Tenant Walgreens
Cap Rate 6.35%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,550
Lease Start 02-01-2010
#Units 13,532
Price/SF $404.14
Expiration 01-31-2035
Tenant Type Pharmacy
NOI $373,396
R. Term 10.0
Ownership Fee Simple
Rent/SF $25.66
Increases 0.0%/0/yrs
Pop 5Mi 16,545
Lot/AC 1.71
Options 50/1yrs
AHHI 5Mi $77,985

Lease Highlights

  • Walgreens has been operating in this location for 14+ years
  • The tenant has 10+ years remaining on the current lease term with 50 (1-year) options to extend | Flat increases
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner of Highway 96 South W Avenue N, with access to a combined daily traffic count of 25,460 vehicles. The property is situated along a major thoroughfare and benefits from its proximity to Highway 96 (16,925 VPD) as well as Silsbee’s Elementary and High School. Additionally, the immediate area features well-known national tenants...

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  • 1 Mile
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  • 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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Traffic

Collection Street Cross Street Year Traffic Vol Distance
West Avenue N W Ave N 2022 8,535 0.05 mi
West Avenue N S 6th St 2019 9,672 0.05 mi
East Avenue N S 4th St 2022 9,630 0.06 mi
East Avenue N 5th St 2018 12,193 0.07 mi
5th Street W Ave O 2022 15,515 0.09 mi
5th St W Ave O 2014 14,456 0.15 mi
S 3rd St E Ave M 2011 2,750 0.16 mi
Ml King Jr Dr 2011 1,720 0.24 mi
S 3rd St E Ave K 2001 1,380 0.25 mi
East Avenue J S 3rd St 2020 145 0.27 mi

Listing Broker

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Ronnie Issenberg

Marcus & Millichap

Contact
  • 88 Listings
  • 13600 Views
  • 43 Sold
Gabriel Britti

Marcus & Millichap

Contact
  • 88 Listings
  • 13600 Views
  • 43 Sold

Ronnie S. Issenberg, Senior Managing Director Investments and Director National Retail Group, has been working in the Investment Real Estate Community since 1998 managing his personal portfolio of Multi Family properties and since 2005, been a member of the National Retail, Net Leased Properties and Land Divisions of Marcus & Millichap, specializing in brokerage of Single Tenant Retail and Fuel Service Assets. Mr. Issenberg earned a Bachelor of Arts and Sciences degree from the University o

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Gabriel Britti, Senior Managing Director of Investments, co-founded the Issenberg Britti Group in 2009 and is a Senior Director of the National Retail Group and Associate Director of the Net Leased Properties Group of Marcus & Millichap Real Estate Investment Services. Gabriel loves what he does, has a thirst for knowledge and takes great pleasure in sharing that knowledge to advance clients towards their investment goals. Gabriel has a long list of loyal clients including some of the na

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