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Views: 62 DOM: 128 Updated: 10.07.24 Posted: 06.04.24 Status: Active

Summary

Price $4,493,000
Built/Renov 2006
Tenant Walgreens
Cap Rate 7.10%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,600
Lease Start 11-01-2024
#Units 13,532
Price/SF $1,248.06
Expiration 12-31-2035
Tenant Type Pharmacy
NOI $318,780
R. Term 11.2
Ownership Fee Simple
Rent/SF $88.55
Increases 5.0%/5/yrs
Pop 5Mi 326,449
Lot/AC 1.32
Options 12/5yrs/5%
AHHI 5Mi $87,063

Lease Highlights

  • Walgreens has 11+ years remaining on the current lease term with 12 (5-year) options to extend
  • The lease features 5% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located on S Ashland Ave and Vermont St, with access to a combined daily traffic count of 26,986 vehicles. The property is conveniently situated near the exit of Interstate 57, which sees 102,000 VPD. Additionally, the area is surrounded by well-known national tenants including Planet Fitness, Aldi, Advanced Auto, McDonald's, and more. Key community educational...

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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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Listing Broker

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