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Views: 112 DOM: 194 Updated: 10.25.24 Posted: 06.01.24 Status: Active

Summary

Price $5,050,000
Built/Renov 2006
Tenant Walgreens
Cap Rate 6.93%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,729
Lease Start 12-16-2006
#Units 13,532
Price/SF $342.86
Expiration 12-31-2031
Tenant Type Pharmacy
NOI $350,000
R. Term 7.0
Ownership Fee Simple
Rent/SF $23.76
Increases 0.0%/0/yrs
Pop 5Mi 42,145
Lot/AC 1.94
Options 0/0yrs
AHHI 5Mi $63,986

Lease Highlights

  • Walgreens has been operating in this location since 2006
  • 75 year primary term | Option to termination beginning in 2031 | 6 months notice required
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of E Main Street/Hwy 40 and 37th Street, with access to a combined daily traffic count of 32,200 vehicles. The property is surrounded by well-known national tenants, including Walmart Supercenter, Menards Home Improvement, Tractor Supply Co., DICK’S Sporting Goods, Kohl’s, Hobby Lobby, and more. The 5-mile trade...

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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 : 3,303 28,786 42,116
2024 Total Population : 3,379 28,823 42,303
2024 Employed Civilian Pop : 1,411 12,126 18,293
2024 Total Businesses : 232 1,425 1,915
2024 Average Household Income : $ 101,572 $ 70,088 $ 68,776
2024 Total Consumer Spending : $ 158 M $ 771 M $ 1111 M
2024 Median Age : 49 40 41
2024 Total Households : 1,770 12,348 18,084
2024 Pop Age 25+: Bachelor's Degree : 339 2,581 3,691
2024 Average Home Value : $ 238,030 $ 194,740 $ 184,118
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
National Road East Woodside Dr 2021 10,300 0.22 mi
Elks Country Club Road Buttermilk Rd 2021 3,000 0.37 mi
Garwood Road Backmeyer Rd 2021 4,551 0.52 mi
South 37th Street Backmeyer Rd 2021 4,060 0.63 mi
Backmeyer Road S 37th St 2021 4,727 0.64 mi
National Rd E Old National Rd E 2000 25,010 0.79 mi
Henley Road South Backmeyer Rd 2018 2,965 0.84 mi
National Road East Commerce Rd 2021 15,026 0.89 mi
Local Cypress Dr 2020 977 0.96 mi
New Paris Pike Mid Dr 2021 2,732 1.01 mi

Listing Broker

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