Walgreens

1041 West Main Street, Whitewater, WI 53190

$3,600,714

Cap Rate 6.30%

Views: 128 DOM: 320 Updated: 10.10.24 Posted: 01.18.24 Status: Active

Summary

Price $3,600,714	Built/Renov 2000	Tenant Walgreens
Cap Rate 6.30%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 15,123	Lease Start 11-21-2023	#Units 13,532
Price/SF $238.10	Expiration 11-30-2038	Tenant Type Pharmacy
NOI $226,845	R. Term 14.0	Ownership Fee Simple
Rent/SF $15.00	Increases 5.0%/4/yrs	Pop 5Mi 17,447
Lot/AC 1.04	Options 12/5yrs/5%	AHHI 5Mi $71,679

Lease Highlights

Walgreens recently executed a brand-new 15-year lease with 12 (5-year) options to extend
Lease features 5% rental increases every 5 years throughout the initial term and at the start of each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Walgreens is strategically located on West Main Street, with access to 9,800 vehicles passing by daily. The property is situated half a mile west of Franklin Street (3,800 VPD) and less than 1.5 miles north of US-12 (7,500 VPD). The immediate corridor is further enhanced by the presence of the University of Wisconsin-Whitewater, boasting an enrollment of 11,000 students. Notable national...

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Key Features

Near major nationals
Strategically located
University college close
Top 100 MSA
Brand new lease
Absolute NNN
Long 10+ yr lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia Whitewater, Wisconsin Zip Code 53190 Broker Site Page

Maps

Local Information

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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	11,248	15,975	17,443
2023 Total Population :	11,322	15,988	17,447
2023 Employed Civilian Pop :	6,115	8,530	9,290
2023 Total Businesses :	286	438	478
2023 Average Household Income :	$ 53,250	$ 67,240	$ 71,679
2023 Total Consumer Spending :	$ 158 M	$ 315 M	$ 371 M
2023 Median Age :	23	24	24
2023 Total Households :	3,368	5,336	5,913
2023 Pop Age 25+: Bachelor's Degree :	823	1,429	1,707
2023 Average Home Value :	$ 292,132	$ 287,764	$ 301,474

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Main St	N Tratt St	2018	9,700	0.04 mi
N Tratt St	W Florence St	2018	5,500	0.13 mi
W Main St	S Elizabeth St	2018	9,000	0.21 mi
S Elizabeth St	W Main St	2018	2,500	0.22 mi
W Starin Rd	Koshkonong Dr	2018	2,300	0.37 mi
W Main St	N Prairie St	2018	8,200	0.41 mi
N Tratt St	S Harmony Ln	2018	5,900	0.42 mi
S Prince St	W Walworth Ave	2006	1,400	0.42 mi
N Prairie St	W Main St	2012	6,200	0.47 mi
W Main St	N Esterly Ave	2018	9,900	0.47 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
15934 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
16100 Views
60 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
16091 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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