Views: 0 DOM: 88 Updated: 11.28.23 Posted: 09.14.23 Status: Active


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...



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  • 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...



  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
*ESRI data is presented for informational purposes only


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

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