loader
Join Free
Updated: 08.12.24 Posted: 06.03.23 Status: Sold

Summary

Price $1,888,707 $1,888,707
Built/Renov 1996
Tenant Walgreens
Cap Rate 7.35% 7.35%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 11,325
Lease Start 02-06-1996
#Units 13,532
Price/SF $166.77 $166.77
Expiration 09-22-2026
Tenant Type Pharmacy
NOI $138,820
R. Term 1.4
Ownership Fee Simple
Rent/SF $12.26
Increases 24.5%/3/yrs
Pop 5Mi 9,241
Lot/AC 1.38
Options 3/5yrs/24.5%
AHHI 5Mi $60,698

Lease Highlights

  • Walgreens has been operating in this location since 1996
  • This location also features a drive-thru pharmacy and a low rent figure compared to other national pharmacy locations
  • Tenant has over 3 years remaining on its current lease term with 3 (5-year) options to extend
  • Lease features 24.5% rental increase in the 1st renewal option (October 2026)
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

The 11,325 square-foot building benefits from its position along 2nd Street South which sees over 15,150 VPD and is a primary thoroughfare leading to Jacksonville, Florida. The subject Walgreens property is surrounded by several nationally recognized tenants including Harveys Supermarkets, Dollar General, O’Reilly Auto Parts, McDonald’s, Advance Auto Parts, Burger King, Anytime Fitness,...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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 : 2,228 5,690 9,390
2023 Total Population : 2,215 5,651 9,329
2023 Employed Civilian Pop : 697 2,042 2,959
2023 Total Businesses : 163 214 236
2023 Average Household Income : $ 47,366 $ 54,812 $ 58,341
2023 Total Consumer Spending : $ 38 M $ 112 M $ 145 M
2023 Median Age : 40 40 39
2023 Total Households : 890 2,276 2,768
2023 Pop Age 25+: Bachelor's Degree : 89 365 524
2023 Average Home Value : $ 131,643 $ 150,362 $ 168,551
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Cypress Street Cypress St 2021 2,830 0.07 mi
Cypress Street Cypress St 2019 2,860 0.07 mi
2nd Street Palm St 2019 9,470 0.08 mi
Love St 6th St 2005 3,180 0.10 mi
Kingsland Rd 3rd St 2005 3,220 0.17 mi
Main St Railroad St 2004 2,969 0.17 mi
W Love St Tower St 2004 2,385 0.17 mi
West Love Street Mills St 2021 1,370 0.20 mi
West Love Street Mills St 2019 1,390 0.20 mi
Main Street W Main St 2018 2,600 0.21 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

my activity