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Views: 72 DOM: 221 Updated: 05.20.24 Posted: 11.04.23 Status: Active

Summary

Price $4,337,560
Built/Renov 2004
Tenant Walgreens
Cap Rate 6.15%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,820
Lease Start 04-01-2024
#Units 13,532
Price/SF $292.68
Expiration 03-31-2039
Tenant Type Pharmacy
NOI $266,760
R. Term 14.9
Ownership Fee Simple
Rent/SF $18.00
Increases 5.0%/5/yrs
Pop 5Mi 200,870
Lot/AC 1.44
Options 12/5yrs/5%
AHHI 5Mi $69,509

Lease Highlights

  • Walgreens will be signing a brand-new 15-year lease with 12 (5-year) options to extend at close of escrow
  • Lease features 5% rental increase every 5 years throughout the initial term and at the start of each option
  • Top performing location with reported store sales of $3.7M
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Fort Street and Eureka Road, with access to a combined traffic count of 50,889 vehicles passing by daily. The property has excellent visibility with two points of ingress and egress, along with a dedicated turn lane for access into the adjoining shopping center. This prime location is situated in a densely...

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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 : 17,203 89,049 201,331
2023 Total Population : 17,611 90,841 204,501
2023 Employed Civilian Pop : 8,998 45,014 96,862
2023 Total Businesses : 498 2,424 5,273
2023 Average Household Income : $ 79,187 $ 85,696 $ 85,296
2023 Total Consumer Spending : $ 546 M $ 2977 M $ 6404 M
2023 Median Age : 42 43 43
2023 Total Households : 7,831 39,577 85,731
2023 Pop Age 25+: Bachelor's Degree : 1,818 9,598 21,212
2023 Average Home Value : $ 182,974 $ 182,980 $ 184,168
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Eureka Rd Eureka Ave 2004 27,796 0.04 mi
Fort St Sycamore St 2012 42,643 0.06 mi
Fort St Orange St 2012 35,357 0.10 mi
Fort St Phelps St 2004 15,765 0.23 mi
Fort St Chestnut St 2004 39,425 0.28 mi
Fort St Orchard St 2017 38,239 0.33 mi
Eureka Rd James St 2003 21,790 0.37 mi
Fort St Commonwealth St 2008 46,600 0.42 mi
Superior Ave Fort St 2004 1,330 0.47 mi
Fort St Superior Ave 2017 46,793 0.48 mi

Listing Broker

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