loader
Join Free
Views: 18 DOM: 16 Updated: 05.02.24 Posted: 05.02.24 Status: Active

Summary

Price $5,554,500
Built/Renov 2002
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,373
Lease Start 09-01-2022
#Units 13,532
Price/SF $386.45
Expiration 08-31-2035
Tenant Type Pharmacy
NOI $333,270
R. Term 11.3
Ownership Fee Simple
Rent/SF $23.19
Increases 5.0%/3/yrs
Pop 5Mi 195,235
Lot/AC 1.81
Options 12/5yrs/5%
AHHI 5Mi $71,210

Lease Highlights

  • Walgreens has been operating in this location since 2009
  • The tenant 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 Roosevelt Blvd and 58th Street North, with access to a robust combined daily traffic count of 67,750 vehicles. The surrounding area boasts well-known national tenants such as Mobil, Family Dollar, Walmart Supercenter, Wawa, Public Storage, among others. Moreover, several educational institutions are nearby,...

...

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...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 12,725 71,907 202,822
2023 Total Population : 12,853 71,945 202,101
2023 Employed Civilian Pop : 7,480 38,152 104,005
2023 Total Businesses : 456 4,673 11,500
2023 Average Household Income : $ 83,024 $ 82,249 $ 83,184
2023 Total Consumer Spending : $ 407 M $ 2358 M $ 6696 M
2023 Median Age : 38 47 48
2023 Total Households : 5,572 32,869 92,423
2023 Pop Age 25+: Bachelor's Degree : 1,622 11,982 33,286
2023 Average Home Value : $ 380,382 $ 296,284 $ 299,054
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Roosevelt Blvd Waverly St 2010 35,113 0.25 mi
Roosevelt Blvd 61st St N 2011 34,325 0.33 mi
Roosevelt Boulevard Alma Ave 2022 26,323 0.45 mi
Roosevelt Boulevard 62nd St N 2022 40,000 0.46 mi
Roosevelt Blvd Crestmont Ave 2011 34,325 0.48 mi
150th Avenue North Sunset St 2022 4,800 0.48 mi
58th Street North 58th St N 2022 7,100 0.48 mi
150th Ave N Sunset St 2011 4,400 0.53 mi
62nd St N 150th Ave N 2011 2,300 0.59 mi
Whitney Rd Arbor Dr 2011 10,000 0.63 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

NEWSLETTER SIGN UP

Subscribe
my activity