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| Price $4,084,000 | Built/Renov 2002 | Tenant Walgreens |
| Cap Rate 7.75% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
15,120
| Lease Start
10-01-2002
| #Units
12,500
|
| Price/SF $270.11 | Expiration
09-30-2036
| Tenant Type Pharmacy |
| NOI $316,492 | R. Term 11.2 | Ownership Fee Simple |
| Rent/SF
$20.93
| Increases 0.0%/1/yrs | Pop 5Mi 133,833 |
| Lot/AC 1.70 | Options 7/5yrs | AHHI 5Mi $82,165 |
| | |
NNN LEASE – Walgreens operates on a triple-net (NNN) lease with over 11 years of firm term remaining. The triple-net (NNN) lease structure allows for a hands-free, passive form of ownership.
LONG OPERATING HISTORY (20+ YEARS) – Walgreens has operated at this location since 2002. The 20+ year operating history has allowed Walgreens to create an identity within the community.
PRIME LOCATION – Walgreens is positioned at the corner of the signalized intersection between 16th Street (19,800 VPD) and 36th Avenue (10,900 VPD) benefiting from ample visibility. The property also boasts numerous modes of accessibility, from both 16th Street and 15th Street D.
DENSELY POPULATED AREA – Moline is the most populous city in Rock Island County. The 5-mile area surrounding the Property exhibits excellent
demographics with a population of over 131,700 and 57,600 households.
NEARBY MAJOR INTERSTATE HIGHWAY I-74 (45,700 VPD) – Walgreens sits less than 1 mile from Exit 4A off Interstate 74, a major interstate highway in the country that boasts 45,700 VPD.
STRONG PLACER.AI PERFORMANCE OF SURROUNDING RETAIL – The area surrounding Walgreens is home to some of the top performing retail within their respective category/chain in the country. The Rock River Plaza in Moline has seen 6.2 million visits in the last 12 months and within the Shopping Center category, ranks in the top 98th percentile in Illinois and the top 97th percentile in the United States. In Illinois, Lowe’s ranks in the top 94th percentile of its chain and Walmart Supercenter ranks in the top 88th percentile of its chain (Placer.ai).
BUSTLING RETAIL CORRIDOR – Walgreens is surrounded by a host of nearby national retailers including: Walmart Supercenter, Target, Lowe’s Home Improvement, Wells Fargo Bank, Menard’s, Kohl’s, Hobby Lobby, PetSmart, Ross Dress for Less, Marshalls, Dick’s Sporting Goods, JOANN, Harbor Freight Tools, Ollie’s Bargain Outlet, Planet Fitness, Party City, Petco, Dollar Tree, Firestone, Tires Plus, Aspen Dental, GameStop, Mattress Firm, Verizon, T-Mobile, Applebee’s, Olive Garden, Buffalo Wild Wings, Panera Bread, Chipotle, 7-Eleven, McDonald’s, Chick-Fil-A, Starbucks, Popeyes, Wendy’s, Taco Bell, Burger King, Panda Express, KFC, and Arby’s demonstrating the strength of the retail corridor.
Walgreens is strategically located at the signalized, hard-corner intersection of 16th Street (19,800 VPD) and 36th Avenue (10,900 VPD), benefiting from excellent visibility. The property also enjoys multiple points of access from both 16th Street and 15th Street D. Walgreens is situated less than one mile from Exit 4A off Interstate 74, a major U.S. highway with traffic counts of 45,700 VPD....
...Hard corner intersection
In location for years
Dense retail corridor
Strategically located
Central metro location
Highway close
Dense 100M+ pop 5 mi
Major MSA
Long 20+ yr lease
Long operation history
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...
| 1 Miles | 3 Miles | 5 Miles | |
| 2029 Total Population : | 5,747 | 55,396 | 128,783 |
| 2024 Total Population : | 5,971 | 57,301 | 131,699 |
| 2024 Employed Civilian Pop : | 2,773 | 28,779 | 64,442 |
| 2024 Total Businesses : | 418 | 2,329 | 5,268 |
| 2024 Average Household Income : | $ 101,702 | $ 83,643 | $ 82,165 |
| 2024 Total Consumer Spending : | $ 231 M | $ 1834 M | $ 4193 M |
| 2024 Median Age : | 44 | 40 | 40 |
| 2024 Total Households : | 2,571 | 24,706 | 57,554 |
| 2024 Pop Age 25+: Bachelor's Degree : | 918 | 7,192 | 16,496 |
| 2024 Average Home Value : | $ 181,463 | $ 169,061 | $ 190,543 |
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| 16th St | Frontage Rd | 2001 | 11,300 | 0.03 mi |
| 36th Ave | 15th StD | 2004 | 5,100 | 0.08 mi |
| 36th Ave | 15th StD | 2010 | 4,950 | 0.08 mi |
| 16th St | 36th Ave | 2004 | 5,100 | 0.09 mi |
| 36th Ave | 15th StD | 2004 | 5,100 | 0.10 mi |
| 36th Ave | 16th St | 2010 | 10,900 | 0.12 mi |
| 16th St | 38th Ave | 2010 | 14,000 | 0.12 mi |
| 16th St | 36th Ave | 2009 | 11,600 | 0.14 mi |
| 36th Ave | 16th St | 2004 | 9,600 | 0.16 mi |
| 16th St | 36th Ave | 2001 | 12,900 | 0.18 mi |
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Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]
