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Views: 81 Updated: 11.04.23 Posted: 11.04.23 Status: Inactive

Summary

Price $4,400,000
Built/Renov 2004
Tenant Walgreens
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,820
Lease Start 10-11-2004
#Units 8,896
Price/SF $296.90
Expiration 10-31-2029
Tenant Type Pharmacy
NOI $352,000
R. Term 5.3
Ownership Fee Simple
Rent/SF $23.75
Increases 0.0%/0/yrs
Pop 5Mi 355,305
Lot/AC 1.02
Options 10/5yrs
AHHI 5Mi $73,479

Lease Highlights

  • Walgreens currently has 5+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
  • Investment grade tenant (S&P: BBB)

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Cleveland Ave and E Kenworth Road, with access to a combined traffic count of 19,200 vehicles passing by daily. The property has excellent visibility with two entry and exit points and is located adjacent to the Northern Lights Shopping Center, a major retail hub anchored by the Saraga International Marketplace...

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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 : 18,350 152,429 382,651
2023 Total Population : 18,514 152,252 375,266
2023 Employed Civilian Pop : 8,439 74,731 199,297
2023 Total Businesses : 403 3,458 13,054
2023 Average Household Income : $ 54,193 $ 68,649 $ 82,342
2023 Total Consumer Spending : $ 334 M $ 3581 M $ 11278 M
2023 Median Age : 36 32 32
2023 Total Households : 7,006 59,438 156,799
2023 Pop Age 25+: Bachelor's Degree : 1,217 19,047 63,292
2023 Average Home Value : $ 172,139 $ 234,463 $ 286,053
*ESRI data is presented for informational purposes only

Listing Broker

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