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Views: 114 DOM: 95 Updated: 08.12.24 Posted: 06.04.24 Status: Active

Summary

Price $3,358,000
Built/Renov 2008
Tenant Walgreens
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,447
Lease Start 05-01-2024
#Units 13,532
Price/SF $232.44
Expiration 10-01-2035
Tenant Type Pharmacy
NOI $218,250
R. Term 11.0
Ownership Fee Simple
Rent/SF $15.11
Increases 5.0%/5/yrs
Pop 5Mi 8,993
Lot/AC 1.31
Options 12/5yrs/5%
AHHI 5Mi $71,642

Lease Highlights

  • Walgreens has 11+ years remaining on the current lease term with 12 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of South Jackson Street and West Main Street, the main thoroughfare, with access to a combined daily traffic count of 27,400 vehicles. The property is further enhanced as it is the only competition in town, and the nearest drug store is over 11 miles away. The immediate area is surrounded by well-known national...

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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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Listing Broker

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