Walgreens

411 West Stockton Street, Edmonton, KY 42129

$1,696,900

Cap Rate 6.40%

Views: 81 Updated: 03.29.24 Posted: 11.22.23 Status: Inactive 03.20.24

Summary

Price $1,696,900	Built/Renov 2023	Tenant Walgreens
Cap Rate 6.40%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 2,564	Lease Start 02-09-2023	#Units 8,896
Price/SF $661.82	Expiration 02-28-2033	Tenant Type Pharmacy
NOI $108,600	R. Term 8.2	Ownership Fee Simple
Rent/SF $42.36	Increases 5.0%/6/yrs	Pop 5Mi 4,622
Lot/AC 0.70	Options 4/5yrs/5%	AHHI 5Mi $50,400

Lease Highlights

Brand new 2023 construction
Walgreens has 9+ years remaining on the current lease term with 4 (5-year) options to extend
Lease features 5% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease | Investment grade tenant

Location Description

Walgreens is strategically located on West Stockton Street/US Rt68, with access to 8,000 vehicles passing by daily. It is conveniently situated in immediate proximity to Metcalfe County Elementary School and High School. Additionally, the property boasts close proximity to well-known national retailers, including Dollar General Market, Subway, Ace Hardware, McDonald's, Pizza Hut, and more. Its...

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Key Features

New construction
New prototype
Near major nationals
Strategically located
Highway location
Hospital close
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia Edmonton, Kentucky Zip Code 42129 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:8,896
Tenant S&P: BBB
Moody’s: Baa3
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 :	1,396	2,509	4,544
2023 Total Population :	1,429	2,565	4,572
2023 Employed Civilian Pop :	458	874	1,682
2023 Total Businesses :	128	164	183
2023 Average Household Income :	$ 49,532	$ 50,255	$ 50,125
2023 Total Consumer Spending :	$ 28 M	$ 48 M	$ 84 M
2023 Median Age :	45	44	43
2023 Total Households :	648	1,083	1,892
2023 Pop Age 25+: Bachelor's Degree :	32	64	229
2023 Average Home Value :	$ 110,934	$ 109,308	$ 117,028

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Stockton St	Rogers St	2003	10,183	0.16 mi
S Main St	E Hamilton St	2002	5,093	0.29 mi
E Stockton St	East St	2002	1,419	0.33 mi
North Main Street	Old Columbia St	2021	5,668	0.33 mi
N Main St	Old Columbia St	2015	5,734	0.33 mi
West Stockton Street	Skyline Dr	2021	6,925	0.47 mi
W Stockton St	Skyline Dr	2015	6,662	0.48 mi
East St	Scott Dr	2014	1,933	0.60 mi
N Main St	Pinewood Rd	2003	2,456	0.74 mi
W Stockton St	Love St	2003	9,508	0.75 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

191 Listings
26430 Views
118 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

192 Listings
26532 Views
119 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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