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Walgreens
2800 Northeast 8th Avenue, Homestead, FL 33033
$7,410,000
Cap Rate 5.80%
Summary
| Price $7,410,000 | Built/Renov 2007 | Tenant Walgreens |
| Cap Rate 5.80% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
14,820
| Lease Start
08-26-2022
| #Units
2,022
|
| Price/SF $500.00 | Expiration
08-31-2035
| Tenant Type Pharmacy |
| NOI $429,780 | R. Term 11.8 | Ownership Fee Simple |
| Rent/SF
$29.00
| Increases 5.0%/4/yrs | Pop 5Mi 171,895 |
| Lot/AC 1.81 | Options 12/5yrs/5% | AHHI 5Mi $64,579 |
| | |
Lease Highlights
- Walgreens has 11+ years remaining on the current lease term with 12 (5-year) options to extend
- Lease features 5% rental increase every 5 years throughout the initial term and at the start of each option
- Absolute NNN | Zero landlord responsibilities
- Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
Location Description
Walgreens is strategically positioned, with great visibility, at the intersection of SW 152nd Ave and Campbell Drive, which see a combined 43,400+ vehicles passing by daily. Additionally, it is located along the entrance and exit ramps of the Ronald Reagan Turnpike, which sees vehicle counts in excess of 75,600 per day. The property sits as an outparcel to a Publix anchored center which...
...Features
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Signalized intersection
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Hard corner intersection
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Shopping Ctr out-parcel
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Hospital close
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Top 100 MSA
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Income tax free state
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Absolute NNN
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Long 10+ yr lease
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Traded and rated company
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Investment grade tenant
...
Maps
Tenant
- Tenant: Walgreens
- Guarantor:Corp T and Rated
- Company:Walgreens Boots Alliance
- # Units:2,022
- 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...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 21,507 | 124,185 | 196,897 |
| 2023 Total Population : | 21,913 | 122,678 | 191,516 |
| 2023 Employed Civilian Pop : | 9,749 | 57,692 | 87,338 |
| 2023 Total Businesses : | 355 | 2,954 | 4,298 |
| 2023 Average Household Income : | $ 90,221 | $ 78,400 | $ 75,285 |
| 2023 Total Consumer Spending : | $ 518 M | $ 2596 M | $ 3850 M |
| 2023 Median Age : | 34 | 32 | 32 |
| 2023 Total Households : | 6,605 | 37,891 | 58,530 |
| 2023 Pop Age 25+: Bachelor's Degree : | 2,989 | 13,336 | 18,878 |
| 2023 Average Home Value : | $ 393,868 | $ 370,079 | $ 371,991 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| SW 152nd Ave | 2022 | 9,600 | 0.13 mi | |
| Southwest 312th Street | NE 30th Ave | 2022 | 33,000 | 0.16 mi |
| NE 26th Ave | 2022 | 6,700 | 0.26 mi | |
| NE 4th St | 2022 | 2,000 | 0.34 mi | |
| Newton Rd | 2022 | 16,000 | 0.52 mi | |
| W Dade Expy | SW 312th St | 2009 | 33,800 | 0.55 mi |
| NE 3rd Ct | 2022 | 2,000 | 0.56 mi | |
| Southwest 152nd Avenue | SW 298th Ter | 2021 | 9,800 | 0.93 mi |
| Southwest 152nd Avenue | SW 280th St | 2022 | 10,000 | 0.93 mi |
| Homestead Extension of Florida's Turnpike | SW 288th St | 2020 | 59,500 | 0.93 mi |
