Walgreens

6101 West Greenfield Avenue, West Allis, WI 53214

$5,428,571

Cap Rate 7.00%

Views: 53 DOM: 169 Updated: 05.05.24 Posted: 11.30.23 Status: Active

Summary

Price $5,428,571	Built/Renov 2008	Tenant Walgreens
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 14,487	Lease Start 08-01-2008	#Units 8,896
Price/SF $374.72	Expiration 07-31-2033	Tenant Type Pharmacy
NOI $380,000	R. Term 9.2	Ownership Fee Simple
Rent/SF $26.23	Increases 0.0%/0/yrs	Pop 5Mi 461,663
Lot/AC 1.54	Options 50/1yrs	AHHI 5Mi $80,752

Randy Blankstein

The Boulder Group

Contact

Lease Highlights

Walgreens has been operating in this location since 2008
Tenant has 9+ years remaining on the current lease term with 11 (5-year) options to extend
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease
Investment grade tenant (S&P: BBB)

Location Description

Walgreens is strategically located on West Greenfield Avenue, with access to 11,400 vehicles passing by daily. This main thoroughfare intersects with I-41/I-894 (173,000 VPD) and connects to I-94 (161,000 VPD). The property benefits from close proximity to several regional shopping centers and well-known national tenants, including Walmart, Target, Menards, ALDI, Walmart, Burlington,...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Hospital close
Top 100 MSA
Strong demographics
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia West Allis, Wisconsin Zip Code 53214 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 :	22,142	188,253	463,527
2023 Total Population :	22,061	189,996	461,663
2023 Employed Civilian Pop :	10,814	90,376	218,855
2023 Total Businesses :	934	5,101	16,955
2023 Average Household Income :	$ 67,247	$ 76,921	$ 80,752
2023 Total Consumer Spending :	$ 584 M	$ 5320 M	$ 13655 M
2023 Median Age :	38	36	35
2023 Total Households :	9,996	79,441	193,963
2023 Pop Age 25+: Bachelor's Degree :	3,074	23,327	63,450
2023 Average Home Value :	$ 218,598	$ 231,126	$ 247,165

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Greenfield Ave	S 61st St	2017	11,100	0.04 mi
West National Avenue	S 61st St	2021	8,500	0.04 mi
W Greenfield Ave	S 64th St	2017	11,400	0.16 mi
W National Ave	S 64th St	2017	8,000	0.17 mi
W National Ave	S 57th St	2017	14,300	0.26 mi
W Mitchell St	S 62nd St	2011	4,000	0.29 mi
West Mitchell Street	S 58th St	2021	2,500	0.36 mi
South 60th Street	W Burnham St	2021	14,300	0.36 mi
West National Avenue	S 47th St	2021	9,100	0.41 mi
W Beloit Rd	S 57th St	2017	10,700	0.46 mi

Listing Broker

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