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Views: 209 DOM: 666 Updated: 10.21.24 Posted: 01.25.23 Status: Active

Summary

Price $7,560,000
Built/Renov 2001
Tenant Walgreens
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 15,120
Lease Start 09-01-2022
#Units 13,532
Price/SF $500.00
Expiration 08-31-2035
Tenant Type Pharmacy
NOI $378,000
R. Term 10.9
Ownership Fee Simple
Rent/SF $25.00
Increases 5.0%/4/yrs
Pop 5Mi 71,400
Lot/AC 1.73
Options 12/5yrs/5%
AHHI 5Mi $96,700

Lease Highlights

  • Walgreens has been operating in this location since 2001
  • The tenant has 10+ years remaining on its current lease with 12 (5-year) options to extend
  • Lease features 5% rental increases every 5 years throughout the initial term and options
  • This location grosses $5.9 million in sales, low rent to sales
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard-corner intersections of Walsingham Road and Oakhurst Road which sees over 43,000 vehicles per day. Located within a major retail corridor, the subject property is surrounded by national tenants such as Walmart Neighborhood Market, CVS, Chase Bank, McDonald’s, Regions Bank, Jiffy Lube, Dollar General, Wells Fargo, Take 5 Oil Change,...

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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
2028 Total Population : 10,927 68,308 152,164
2023 Total Population : 11,025 69,168 153,440
2023 Employed Civilian Pop : 5,990 36,433 77,076
2023 Total Businesses : 461 2,505 6,444
2023 Average Household Income : $ 97,652 $ 106,601 $ 99,894
2023 Total Consumer Spending : $ 436 M $ 2852 M $ 6284 M
2023 Median Age : 57 54 55
2023 Total Households : 5,151 31,042 72,669
2023 Pop Age 25+: Bachelor's Degree : 1,814 12,601 28,123
2023 Average Home Value : $ 403,429 $ 439,451 $ 400,191
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Walsingham Rd Indian Rocks Rd 2011 27,500 0.15 mi
Walsingham Rd 137th St 2011 27,662 0.19 mi
Hamlin Blvd 117th Ave N 2011 5,500 0.47 mi
137th Street Twig Ter 2021 3,500 0.51 mi
Apache Ave 145th St 2003 5,456 0.53 mi
Walsingham Road Hibiscus Rd 2021 26,500 0.56 mi
Walsingham Road 118th Ave N 2021 17,500 0.56 mi
Hamlin Boulevard Hamlin Blvd 2021 5,700 0.65 mi
5th Ave N 6th Ave 2011 18,755 0.81 mi
Oakhurst Rd 104th Ave N 2011 9,366 0.85 mi

Listing Broker

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