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Views: 108 DOM: 258 Updated: 09.24.24 Posted: 03.02.24 Status: Active

Summary

Price $6,645,454
Built/Renov 2001
Tenant Walgreens
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 15,064
Lease Start 05-25-2001
#Units 13,532
Price/SF $441.15
Expiration 10-31-2034
Tenant Type Pharmacy
NOI $365,500
R. Term 9.11
Ownership Fee Simple
Rent/SF $24.26
Increases 0.0%/0/yrs
Pop 5Mi 230,901
Lot/AC 1.52
Options 8/5yrs
AHHI 5Mi $80,007

Lease Highlights

  • Walgreens has been operating in this location since 2001
  • The tenant has 10+ years remaining on the current lease term with 8 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Tilghman Street and W 17th Street, with access to a combined daily traffic count of 22,749 vehicles. The property is location just a few blocks from the Lehigh Valley Hospital, and it is positioned 4 miles from Lehigh Valley Hospital Tilghman & St Luke’s West End Medical Center. Lehigh Valley Hospital serves as...

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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 : 38,183 149,324 239,106
2023 Total Population : 38,232 147,525 236,793
2023 Employed Civilian Pop : 17,246 70,543 117,797
2023 Total Businesses : 1,164 4,885 8,242
2023 Average Household Income : $ 64,953 $ 78,279 $ 87,582
2023 Total Consumer Spending : $ 776 M $ 3692 M $ 6862 M
2023 Median Age : 35 37 40
2023 Total Households : 13,672 54,291 90,655
2023 Pop Age 25+: Bachelor's Degree : 3,558 15,424 29,854
2023 Average Home Value : $ 222,616 $ 261,155 $ 281,724
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N 17th St Page St 2017 8,637 0.04 mi
Tilghman Street N West St 2020 9,203 0.06 mi
Tilghman Street N Jute St 2021 10,418 0.06 mi
N 17th St W Liberty St 2017 8,637 0.11 mi
W Allen St N 16th St 2017 952 0.17 mi
W Liberty St N St George St 2017 3,192 0.19 mi
N 19th St Page St 2019 5,390 0.20 mi
N 19th St Andrew St 2017 5,361 0.22 mi
N Bayard St W Tilghman St 2017 16,734 0.24 mi
W Allen St N Lafayette St 2017 952 0.24 mi

Listing Broker

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