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Views: 121 DOM: 213 Updated: 10.31.24 Posted: 05.13.24 Status: Active

Summary

Price $4,750,000
Built/Renov 2006
Tenant Walgreens
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,800
Lease Start 03-01-2007
#Units 13,532
Price/SF $320.95
Expiration 02-28-2074
Tenant Type Pharmacy
NOI $380,000
R. Term 49.3
Ownership Fee Simple
Rent/SF $25.68
Increases 0.0%/0/yrs
Pop 5Mi 30,229
Lot/AC 1.40
Options 0/0yrs
AHHI 5Mi $86,115

Lease Highlights

  • Walgreens has been operating in this location since 2007
  • The tenant has 57+ years remaining on the current lease term
  • The lease features termination options starting at year 25 with 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 State Route 281 and Groton Avenue, the main retail corridor, with access to a combined daily traffic count of 30,400 vehicles. The property is adjacent to Grand Union Supermarket and surrounded by well-known national tenants including Walmart Supercenter, Price Chopper, Lowe’s, as well as auto dealerships,...

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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 : 7,707 24,295 29,172
2024 Total Population : 7,819 24,831 29,874
2024 Employed Civilian Pop : 3,317 12,122 14,868
2024 Total Businesses : 253 1,071 1,231
2024 Average Household Income : $ 90,382 $ 84,559 $ 88,103
2024 Total Consumer Spending : $ 192 M $ 730 M $ 918 M
2024 Median Age : 23 36 37
2024 Total Households : 2,406 9,730 11,760
2024 Pop Age 25+: Bachelor's Degree : 860 2,719 3,368
2024 Average Home Value : $ 189,159 $ 206,333 $ 220,577
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
State Highway 222 West Rd 2021 7,800 0.13 mi
State Hwy 222 Groton Ave 2006 11,280 0.16 mi
West Rd Crestwood Ct 2006 19,120 0.29 mi
West Road Kinney Gulf Rd 2018 17,367 0.50 mi
Neubig Rd 2021 4,139 0.51 mi
Mildred Ave 2021 2,440 0.60 mi
Townley Avenue Broadway Ave 2021 3,502 0.61 mi
Groton Avenue Stevenson St 2021 7,068 0.65 mi
Quail Rdg 2021 1,745 0.71 mi
Madison St 2021 1,040 0.74 mi

Listing Broker

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