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Views: 67 DOM: 438 Updated: 07.04.24 Posted: 05.01.23 Status: Active

Summary

Price $4,579,567
Built/Renov 2000
Tenant Walgreens
Cap Rate 9.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 14,564
Lease Start 04-01-2017
#Units 13,532
Price/SF $314.44
Expiration 03-31-2027
Tenant Type Pharmacy
NOI $412,161
R. Term 2.8
Ownership Fee Simple
Rent/SF $28.30
Increases 5.0%/4/yrs
Pop 5Mi 28,497
Lot/AC 1.95
Options 5/5yrs/5%
AHHI 5Mi $97,034

Lease Highlights

  • Walgreens has over 3 years remaining in the current term with 5 (5-year) options to extend
  • Lease features 5% rent increases in option 1 and 10% increase in remaining options
  • Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

Walgreens benefits from its position along Columbia Turnpike which sees 12,400 vehicles per day, as well as its proximity to Interstate 90 which experiences over 36,129 vehicles per day. Nearby tenants include Tractor Supply Company, USPS, Curtis Lumber Co, and Evergreen Country Club, Visionworks, Wendy’s, Starbucks, Hannaford Supermarket, Advance Auto Parts and many more. The property is also...

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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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,548 11,891 28,203
2023 Total Population : 1,565 11,930 28,662
2023 Employed Civilian Pop : 719 6,432 15,327
2023 Total Businesses : 74 386 844
2023 Average Household Income : $ 130,337 $ 147,020 $ 130,004
2023 Total Consumer Spending : $ 73 M $ 610 M $ 1317 M
2023 Median Age : 50 46 46
2023 Total Households : 663 4,917 11,973
2023 Pop Age 25+: Bachelor's Degree : 284 2,204 5,114
2023 Average Home Value : $ 346,656 $ 311,930 $ 287,424
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
I 787 Columbia Tpke 2018 34,038 0.27 mi
Kenney Way 2021 36,499 0.28 mi
Maple Hill Rd 2021 36,499 0.28 mi
Columbia Turnpike Springhurst Dr 2018 11,048 0.35 mi
Columbia Tpke 2021 614 0.39 mi
Columbia Tpke I- 90 2000 12,400 0.42 mi
I- 90 2021 4,942 0.53 mi
Herman K Ln 2021 696 0.65 mi
Horseshoe Dr 2021 323 0.71 mi
Miller Rd 2021 661 0.75 mi

Listing Broker

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