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Views: 132 DOM: 422 Updated: 09.26.24 Posted: 08.16.23 Status: Active

Summary

Price $3,600,000
Built/Renov 2005
Tenant Walgreens (LH)
Cap Rate 7.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 11,278
Lease Start 06-01-2005
#Units 13,532
Price/SF $319.21
Expiration 07-01-2030
Tenant Type Pharmacy
NOI $270,000
R. Term 5.8
Ownership Leasehold
Rent/SF $23.94
Increases 0.0%/0/yrs
Pop 5Mi 745,923
Lot/AC 0.54
Options 9/5yrs
AHHI 5Mi $150,569

Lease Highlights

  • There are 5+ years remaining on the base term of the Walgreens leasehold and 52+ years remaining on the total lease right
  • Lease includes 9 (5-year) options to extend
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease by Walgreens Boots Alliance (NYSE: WBA)
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

Walgreens is strategically positioned at the signalized, hard corner intersection of Hillside Avenue and Langdale Street with access to 31,600 vehicles passing by daily. The subject property is conveniently located just 1.5 miles off Cross Island Parkway (186,500 VPD), providing direct on/off ramp access for travelers. Strong residential corridor in the area provides a customer base from which...

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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 : 40,354 261,679 739,690
2023 Total Population : 40,760 264,997 745,585
2023 Employed Civilian Pop : 20,774 130,353 368,776
2023 Total Businesses : 1,465 8,361 26,316
2023 Average Household Income : $ 158,293 $ 154,525 $ 150,573
2023 Total Consumer Spending : $ 1770 M $ 11391 M $ 31542 M
2023 Median Age : 45 44 43
2023 Total Households : 13,469 88,333 250,102
2023 Pop Age 25+: Bachelor's Degree : 10,044 55,465 144,927
2023 Average Home Value : $ 686,863 $ 712,104 $ 738,708
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Hillside Ave N 1st St 2014 27,042 0.03 mi
Clausen Place N 3rd St 2021 1,005 0.11 mi
Hillside Avenue Devonshire Dr 2021 20,931 0.18 mi
Hillside Avenue 266th St 2018 24,851 0.20 mi
266th St E Williston Ave 2003 23,400 0.21 mi
85th Ave 2021 697 0.25 mi
Hillside Blvd White Ave 2019 3,282 0.28 mi
Hillside Ave N 7th St 2016 22,693 0.33 mi
Peter Ln 2021 128 0.34 mi
81st Ave 2021 544 0.39 mi

Listing Broker

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