✖
Walgreens
3063 South Sheridan Road, Tulsa, OK 74129
$3,000,000
Cap Rate 6.75%
Summary
| Price $3,000,000 | Built/Renov 2004 | Tenant Walgreens |
| Cap Rate 6.75% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
15,000
| Lease Start
06-06-2004
| #Units
8,896
|
| Price/SF $200.00 | Expiration
05-31-2029
| Tenant Type Pharmacy |
| NOI $202,500 | R. Term 5.5 | Ownership Fee Simple |
| Rent/SF
$13.50
| Increases 0.0%/5/yrs | Pop 5Mi 6,145 |
| Lot/AC 1.80 | Options 3/5yrs/9.6% | AHHI 5Mi $84,113 |
| | |
Lease Highlights
- Walgreens recently extended their lease through May 2029
- Lease features a flat $7500 increase in each of the 3 (5-year) options
- Low rent per square foot compared to other national pharmacy locations ($13.33/SF)
- Absolute NNN lease | Zero landlord responsibilities
- Corporate guaranteed lease
- Walgreens is an investment grade tenant (S&P: BBB)
Location Description
This 15,000 square-foot building benefits from its position at the intersection of East 22nd Place and East 31st Street, which sees a combined vehicle count of 45,800 vehicles per day. The site is also located just off Broken Arrow Expressway (87,800 VPD) and Interstate 44 (74,100 VPD), two major thoroughfares for the Tulsa MSA. Walgreens is surrounded by a number of national tenants including...
...Features
-
Signalized intersection
-
In location for years
-
Freeway close
-
Top 100 MSA
-
Strong demographics
-
Long operation history
-
Recently extended lease
-
Absolute NNN
-
Traded and rated company
-
Investment grade tenant
...
Maps
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...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 10,199 | 92,877 | 262,351 |
| 2023 Total Population : | 10,179 | 92,185 | 259,342 |
| 2023 Employed Civilian Pop : | 5,194 | 47,592 | 129,504 |
| 2023 Total Businesses : | 658 | 6,093 | 14,941 |
| 2023 Average Household Income : | $ 69,442 | $ 78,505 | $ 79,926 |
| 2023 Total Consumer Spending : | $ 273 M | $ 2772 M | $ 7631 M |
| 2023 Median Age : | 41 | 39 | 37 |
| 2023 Total Households : | 4,530 | 40,551 | 109,571 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,617 | 14,963 | 37,765 |
| 2023 Average Home Value : | $ 192,062 | $ 231,023 | $ 255,092 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| South Sheridan Road | 2019 | 18,800 | 0.09 mi | |
| E 31st St | E 24th St | 2017 | 14,300 | 0.10 mi |
| South Sheridan Road | 2019 | 25,800 | 0.17 mi | |
| S 65th E Ave | E 32nd St | 2017 | 29,500 | 0.17 mi |
| E 22nd Pl | E 28th Pl | 2017 | 31,500 | 0.20 mi |
| E 31st St | S Lakewood Ave | 2017 | 14,700 | 0.22 mi |
| East 31st Street | 2019 | 10,200 | 0.32 mi | |
| East 31st Street | 2019 | 10,800 | 0.46 mi | |
| South Sheridan Road | Broken Arrow Expy | 2019 | 27,120 | 0.46 mi |
| E 31st St | S Hudson Ave | 2015 | 10,200 | 0.46 mi |
