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Views: 104 DOM: 297 Updated: 09.19.24 Posted: 01.23.24 Status: Active

Summary

Price $2,431,042
Built/Renov 1993
Tenant Walgreens
Cap Rate 7.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 12,934
Lease Start 05-01-2024
#Units 13,532
Price/SF $187.96
Expiration 04-30-2034
Tenant Type Pharmacy
NOI $170,173
R. Term 9.5
Ownership Fee Simple
Rent/SF $13.16
Increases 0.0%/0/yrs
Pop 5Mi 156,485
Lot/AC 1.14
Options 4/5yrs
AHHI 5Mi $92,365

Lease Highlights

  • Walgreens recently negotiated an early 10-year lease extension which will be executed upon close of escrow
  • The lease features 4 (5-year) options to extend
  • Minimal landlord responsibilities
  • Corporate guaranteed lease (NASDAQ: WBA)
  • Investment grade tenant (S&P: BBB-)

Location Description

Walgreens is strategically located at the hard corner, signalized intersection of W. Houston Street and S. Elm Place and benefits from great visibility to more than 25,300 vehicles per day. The property sits as an outparcel to the “Central Park” Shopping Center which is home to numerous service-oriented retailers such as restaurants, hair and nail salons, a fitness center, and several others....

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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 : 11,510 75,440 170,183
2023 Total Population : 11,150 73,375 165,681
2023 Employed Civilian Pop : 5,527 38,206 87,344
2023 Total Businesses : 692 3,138 6,380
2023 Average Household Income : $ 77,073 $ 96,450 $ 98,294
2023 Total Consumer Spending : $ 300 M $ 2291 M $ 5412 M
2023 Median Age : 37 38 37
2023 Total Households : 4,492 27,702 64,093
2023 Pop Age 25+: Bachelor's Degree : 1,310 13,137 29,374
2023 Average Home Value : $ 239,476 $ 234,580 $ 249,776
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Elm Pl E 81st St 2015 27,790 0.08 mi
E 81st St S Elm Pl 2015 8,613 0.09 mi
E 81st St S Elm Ct 2015 15,389 0.10 mi
S Elm Pl W Galveston St 2015 27,534 0.14 mi
W Dallas St W 11th St 2015 750 0.33 mi
E 81st St S Ash Ave 2012 8,936 0.39 mi
West Dallas Street 2019 680 0.39 mi
West Houston Street S Lions Ave 2019 13,000 0.42 mi
E 13th Pl E 16th Pl 2015 9,158 0.44 mi
E 30th Pl E 33rd St 2015 7,737 0.45 mi

Listing Broker

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