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Views: 111 DOM: 138 Updated: 10.01.24 Posted: 07.18.24 Status: Active

Summary

Price $4,360,000
Built/Renov 2003
Tenant Walgreens
Cap Rate 7.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 13,905
Lease Start 06-01-2003
#Units 13,532
Price/SF $313.56
Expiration 07-31-2036
Tenant Type Pharmacy
NOI $305,215
R. Term 11.8
Ownership Fee Simple
Rent/SF $21.95
Increases 0.0%/0/yrs
Pop 5Mi 54,142
Lot/AC 2.22
Options 4/5yrs
AHHI 5Mi $153,758

Lease Highlights

  • Walgreens has been operating in this location for over 20 years
  • The tenant recently extended its base term lease for an additional 12 years with 4 (5-year) options to extend
  • Outstanding reported sales of $4.6M+
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located on N. Port Washington Road, a prominent north-south thoroughfare with access to 16,860 vehicles passing by daily. The property benefits from its location within a thriving commercial corridor surrounded by well-known national tenants including McDonald’s, Starbucks, PNC Bank, Metro, Dunkin’, and more. Additionally, it enjoys close proximity to the on/off...

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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 : 3,404 21,162 54,219
2024 Total Population : 3,343 21,035 54,119
2024 Employed Civilian Pop : 1,598 10,278 27,294
2024 Total Businesses : 623 1,243 2,625
2024 Average Household Income : $ 223,950 $ 187,541 $ 151,669
2024 Total Consumer Spending : $ 252 M $ 1277 M $ 2968 M
2024 Median Age : 49 49 45
2024 Total Households : 1,338 8,038 22,778
2024 Pop Age 25+: Bachelor's Degree : 1,050 5,933 13,538
2024 Average Home Value : $ 661,141 $ 590,391 $ 487,777
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
2019 5,200 0.08 mi
W Mequon Rd N Port Washington Rd 2019 27,900 0.12 mi
I- 43 Mequon Rd 2019 5,200 0.13 mi
N Port Washingto 2019 26,000 0.16 mi
2019 9,000 0.17 mi
W Mequon Rd 2019 16,700 0.18 mi
2019 9,600 0.22 mi
N Port Washington Rd N Towne Square Rd 2016 18,200 0.26 mi
Mequon Rd N San Marino Dr 2019 4,400 0.26 mi
W Homestead Trl N Port Washington Rd 2001 150 0.28 mi

Listing Broker

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