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Views: 64 DOM: 92 Updated: 05.29.24 Posted: 04.11.24 Status: Active

Summary

Price $4,675,862
Built/Renov 2007
Tenant Walgreens
Cap Rate 7.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,748
Lease Start 08-06-2007
#Units 13,532
Price/SF $317.05
Expiration 08-31-2032
Tenant Type Pharmacy
NOI $339,000
R. Term 8.1
Ownership Fee Simple
Rent/SF $22.99
Increases 0.0%/0/yrs
Pop 5Mi 51,651
Lot/AC 1.29
Options 50/1yrs
AHHI 5Mi $117,711

Lease Highlights

  • Walgreens has been operating in this location since 2007
  • The tenant has 8+ years remaining on the current lease term with 50 (1-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of NY-31 and Torchwood Lane, with access to a combined daily traffic count of 19,100 vehicles. The property features prominent signage and excellent visibility and frontage. The surrounding area hosts well-known national tenants including Home Depot, Walmart, Wegman’s, Lowe’s, and more. Additionally, it enjoys...

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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 : 6,302 26,103 52,558
2023 Total Population : 6,359 25,750 52,320
2023 Employed Civilian Pop : 3,562 13,860 27,278
2023 Total Businesses : 174 785 1,885
2023 Average Household Income : $ 125,680 $ 118,731 $ 110,009
2023 Total Consumer Spending : $ 272 M $ 1029 M $ 2040 M
2023 Median Age : 40 41 42
2023 Total Households : 2,554 10,131 21,582
2023 Pop Age 25+: Bachelor's Degree : 1,013 4,056 8,114
2023 Average Home Value : $ 229,973 $ 233,628 $ 232,547
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Boyko Farm 2021 14,141 0.22 mi
14 Leslieanne Path 2019 8,511 0.42 mi
Thompson Road Island Rd 2021 7,679 0.42 mi
State Hwy 31 Button Rd 2008 10,360 0.45 mi
Jane Ln 2021 1,782 0.47 mi
Lakeshore Road Persian Ter 2021 8,514 0.49 mi
Yukon Dr 2021 168 0.51 mi
South Bay Road Darby Rd 2021 8,064 0.54 mi
Electric Railway 2021 107 0.65 mi
Lakeshore Rd Tartan Dr N 2005 4,759 0.68 mi

Listing Broker

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