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Updated: 02.08.24 Posted: 06.02.23 Status: Sold

Summary

Price $800,000 $1,152,000
Built/Renov 1995
Tenant Walgreens
Cap Rate 10.80% 7.50%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 10,233
Lease Start 11-01-1995
#Units 8,896
Price/SF $78.18 $112.58
Expiration 11-30-2025
Tenant Type Pharmacy
NOI $86,400
R. Term 0.6
Ownership Fee Simple
Rent/SF $8.44
Increases 5.0%/2/yrs
Pop 5Mi 4,966
Lot/AC 1.01
Options 3/5yrs/5%
AHHI 5Mi $54,129

Lease Highlights

  • Walgreens took over this location from Rite Aid in 2018
  • Tenant has over 2 years remaining on the current lease term with 3 (5-year) options to extend
  • Lease features 5% rental increases every 5 years throughout the initial term and at the start of each option period
  • Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

This 10,233 square foot Walgreens is situated on a 1.01 acre parcel at the hard corner intersection of Main Highway and Poplar Street with access to a combined 7,800 vehicles per day. The site is equipped with a drive-thru for customer ease and access. Neighboring national/credit tenants include Piggly Wiggly, Farmers Home Furniture, Dollar Tree, Hardee’s, Wells Fargo and more. The 5-mile...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

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...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,958 4,076 4,774
2023 Total Population : 2,056 4,254 4,972
2023 Employed Civilian Pop : 635 1,331 1,614
2023 Total Businesses : 116 184 202
2023 Average Household Income : $ 45,386 $ 52,013 $ 52,472
2023 Total Consumer Spending : $ 34 M $ 81 M $ 96 M
2023 Median Age : 43 44 44
2023 Total Households : 843 1,757 2,076
2023 Pop Age 25+: Bachelor's Degree : 189 404 458
2023 Average Home Value : $ 99,138 $ 120,012 $ 120,020
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Calhoun Street Walnut St 2021 1,450 0.17 mi
S Main St Weimer St 2010 7,400 0.20 mi
Bamberg Street Hill St 2021 325 0.21 mi
Green Street Brickle St 2021 350 0.29 mi
Main Highway Elm St 2021 7,100 0.31 mi
Weimer Street Snake St 2021 700 0.31 mi
Elm Street Elm St 2021 325 0.36 mi
Pentecostal Street Middle St 2021 375 0.36 mi
Rhoad Park St Birch St 2005 175 0.43 mi
N Main St E Railroad Ave 2010 10,200 0.49 mi

Listing Broker

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