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Views: 163 DOM: 151 Updated: 10.10.24 Posted: 07.04.24 Status: Contract 10.10.24

Summary

Price $3,434,748
Built/Renov 1997/2010
Tenant Walgreens
Cap Rate 7.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,905
Lease Start 01-28-2002
#Units 13,532
Price/SF $247.02
Expiration 09-30-2036
Tenant Type Pharmacy
NOI $266,193
R. Term 11.10
Ownership Fee Simple
Rent/SF $19.14
Increases 0.0%/0/yrs
Pop 5Mi 105,650
Lot/AC 2.03
Options 8/5yrs
AHHI 5Mi $107,158

Lease Highlights

  • Walgreens has been operating in this location for over 20 years
  • The tenant has 12+ years remaining on the current lease term with 8 (5-year) options to extend
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard-corner intersection of Mentor Ave and Heisley/Chilicothe, with access to a combined daily traffic count of 29,346 vehicles. The property is situated 3.5 miles from Lakeland Freeway (68,946 VPD) and Interstate 90 (63,302 VPD), directly adjacent to Zappy’s Auto Washes and Mean Mugs Pub, and across from Beyond Juicery + Eatery, Starbucks,...

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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
2029 Total Population : 6,665 44,969 105,337
2024 Total Population : 6,667 44,986 105,186
2024 Employed Civilian Pop : 3,378 23,738 55,976
2024 Total Businesses : 306 2,214 4,306
2024 Average Household Income : $ 110,506 $ 117,349 $ 110,646
2024 Total Consumer Spending : $ 291 M $ 1951 M $ 4319 M
2024 Median Age : 52 47 45
2024 Total Households : 3,037 19,105 44,660
2024 Pop Age 25+: Bachelor's Degree : 1,067 8,330 17,128
2024 Average Home Value : $ 271,858 $ 296,011 $ 292,453
*ESRI data is presented for informational purposes only

Listing Broker

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