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Views: 99 DOM: 171 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 10.2
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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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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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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