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Views: 42 DOM: 132 Updated: 07.12.24 Posted: 03.02.24 Status: Active

Summary

Price $4,600,000
Built/Renov 2004
Tenant Walgreens
Cap Rate 7.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,650
Lease Start 08-01-2004
#Units 13,532
Price/SF $337.00
Expiration 07-31-2029
Tenant Type Pharmacy
NOI $345,000
R. Term 5.0
Ownership Fee Simple
Rent/SF $25.27
Increases 3.0%/5/yrs
Pop 5Mi 28,534
Lot/AC 2.14
Options 10/5yrs/3%
AHHI 5Mi $115,708

Lease Highlights

  • Walgreens has been operating in this location since 2004
  • The tenant has 5+ years remaining on the current lease term with 10 (5-year) options to extend
  • The lease features 3% rental escalations at the start of each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located on U.S. Route 1/E Main Street, the main traffic artery, with access to 10,785 vehicles passing by daily. Within a two-mile radius of the property are two grocery-anchored shopping centers, attracting 1.4 million visitors annually, and the Clinton Premium Outlets, attracting 2.8 million visitors annually. The area is surrounded by national tenants including...

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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 : 3,193 13,022 25,460
2023 Total Population : 3,204 12,981 25,603
2023 Employed Civilian Pop : 1,614 6,936 13,634
2023 Total Businesses : 240 818 1,549
2023 Average Household Income : $ 123,366 $ 131,574 $ 144,229
2023 Total Consumer Spending : $ 153 M $ 657 M $ 1363 M
2023 Median Age : 50 49 50
2023 Total Households : 1,462 5,852 11,154
2023 Pop Age 25+: Bachelor's Degree : 577 2,675 5,293
2023 Average Home Value : $ 439,691 $ 433,046 $ 459,199
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E Main St Beach PkRd 2012 12,900 0.09 mi
Beach Park Rd PkPl 2010 2,700 0.14 mi
E Main St Plymouth Ct 2012 14,500 0.30 mi
Old Post Rd E Main St 2012 4,700 0.35 mi
E Main St Village Walk 2012 14,200 0.41 mi
E Main St Causeway 2010 8,000 0.42 mi
Liberty St E Main St 2010 2,000 0.63 mi
Causeway Groveway 2010 650 0.64 mi
E Main St Liberty St 2002 14,000 0.64 mi
Liberty St Long Hill Rd 2010 3,300 0.77 mi

Listing Broker

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