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Views: 98 Updated: 01.18.24 Posted: 12.06.23 Status: Inactive

Summary

Price $5,804,195
Built/Renov 2005
Tenant Walgreens
Cap Rate 7.49%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 14,490
Lease Start 03-02-2006
#Units 8,896
Price/SF $400.57
Expiration 02-28-2025
Tenant Type Pharmacy
NOI $434,700
R. Term 0.2
Ownership Fee Simple
Rent/SF $30.00
Increases 0.0%/0/yrs
Pop 5Mi 104,363
Lot/AC 1.34
Options 0/0yrs
AHHI 5Mi $80,823

Lease Highlights

  • Walgreens has been operating in this location since 2006

  • Tenant has 1+ years remaining on the current lease term with 9 (5-year) options to extend
  • Favorable NN+ lease with landlord responsible for roof & structure
  • Corporate guaranteed lease (NASDAQ: WBA)
  • Walgreen is an investment grade tenant (S&P: BBB)

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of US Highway 71 and Main Street, with a combined daily traffic count of 110,600 vehicles. The property benefits from excellent visibility with significant frontage and signage. Notably, the immediate trade features well-known national tenants including Burger King, McDonald's, Starbucks, Taco Bell and many more....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Walgreens
  • Guarantor:Corp T and Rated
  • Company:Walgreens Boots Alliance
  • # Units:8,896
  • Tenant S&P: BBB
  • Moody’s: Baa3
  • 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
High Grove Rd 15 St 2010 942 0.06 mi
Main St 15 St 2006 15,788 0.09 mi
Main St 2022 5,013 0.10 mi
Main St 2022 2,506 0.10 mi
15 St Main St 2007 2,482 0.10 mi
US 71 Frontage Rd E 2022 7,000 0.11 mi
US 71 Frontage Rd E High Grove Rd 2000 71,772 0.12 mi
High Grove Rd Spring St 2008 1,129 0.13 mi
E 133rd St 2022 5,013 0.13 mi
Main St US 71 Frontage Rd E 2015 14,035 0.16 mi

Listing Broker

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