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Walgreens
5298 Highland Road, Baton Rouge, LA 70808
$4,200,000
Cap Rate 6.00%
Summary
| Price $4,200,000 | Built/Renov 2012 | Tenant Walgreens |
| Cap Rate 6.00% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
12,355
| Lease Start
09-01-2023
| #Units
8,896
|
| Price/SF $339.94 | Expiration
09-01-2038
| Tenant Type Pharmacy |
| NOI $252,000 | R. Term 14.8 | Ownership Fee Simple |
| Rent/SF
$20.40
| Increases 5.0%/5/yrs | Pop 5Mi 145,464 |
| Lot/AC 0.95 | Options 10/5yrs/5% | AHHI 5Mi $95,107 |
| | |
Lease Highlights
- Walgreens recently singed a brand new 15-year lease with 10 (5-year) options to extend
- Lease features 5% rental increases every 5 years throughout the initial term and at the start of each option
- Absolute NNN | Zero landlord responsibilities
- Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
- Walgreens is an investment grade tenant (S&P: BBB)
Location Description
This newly construction Starbucks, equipped with a drive-thru, is located on South Four J Road which sees 14,400, vehicles passing by daily. It is also adjacent to the signalized intersection at Four J Road and Lakeway Road (15,500 VPD). Nearby major nationals include Walmart, JoAnn, Hobby Lobby, Marshalls, and more, creating a strong consumer drive to the immediate trade area. The site...
...Features
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Signalized intersection
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Hard corner intersection
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Near major nationals
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Highway close
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Top 100 MSA
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Strong demographics
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Brand new lease
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Long 15+ yr lease
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Traded and rated company
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Investment grade tenant
...
Maps
Tenant
- Tenant: Walgreens
- Guarantor:Corp T and Rated
- Company:Walgreens Boots Alliance
- # Units:8,896
- Tenant S&P: BBB
- Moody’s: Baa3
- Stock:NASDAQ: WBA
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 : | 9,965 | 68,381 | 145,257 |
| 2023 Total Population : | 9,487 | 67,581 | 144,265 |
| 2023 Employed Civilian Pop : | 5,382 | 34,444 | 74,049 |
| 2023 Total Businesses : | 249 | 2,700 | 10,432 |
| 2023 Average Household Income : | $ 80,904 | $ 90,196 | $ 88,915 |
| 2023 Total Consumer Spending : | $ 333 M | $ 2183 M | $ 4873 M |
| 2023 Median Age : | 26 | 26 | 32 |
| 2023 Total Households : | 4,688 | 27,647 | 62,867 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,944 | 10,963 | 25,188 |
| 2023 Average Home Value : | $ 414,802 | $ 403,859 | $ 370,622 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| West Lee Drive | Highland Rd | 2021 | 29,925 | 0.07 mi |
| Lee Drive | Boone Ave | 2021 | 20,854 | 0.17 mi |
| LA 42 | Clara Dr | 2021 | 22,310 | 0.22 mi |
| LA 42 | Ben Hur Rd | 2021 | 12,379 | 0.28 mi |
| West Lee Drive | Burbank Dr | 2021 | 2,108 | 0.33 mi |
| Burbank Dr | W Lee Dr | 2011 | 22,406 | 0.42 mi |
| West Lee Drive | Etta St | 2021 | 16,550 | 0.48 mi |
| Lee Drive | Bennett Dr | 2021 | 23,420 | 0.76 mi |
| LA 30 | Dean Lee Dr | 2021 | 16,389 | 0.79 mi |
| Oxford Avenue | L S U Ave | 2021 | 14,012 | 0.88 mi |
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