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Views: 38 DOM: 93 Updated: 05.05.24 Posted: 03.11.24 Status: Active

Summary

Price $4,241,552
Built/Renov 2006
Tenant Walgreens (GL)
Cap Rate 7.15%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 17,500
Lease Start 03-06-2006
#Units 13,532
Price/SF $242.37
Expiration 03-06-2031
Tenant Type Pharmacy
NOI $303,271
R. Term 6.8
Ownership Ground Lease
Rent/SF $17.33
Increases 0.0%/0/yrs
Pop 5Mi 451,782
Lot/AC 0.73
Options 10/5yrs
AHHI 5Mi $64,127

Lease Highlights

  • Walgreens has been operating in this location since 1983
  • The tenant has 6+ years remaining on the current ground lease term with 10 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Jeffery Blvd. and E 71st Street, with access to a combined daily traffic count of 24,700 vehicles. The property is located on an outparcel in Jeffery Plaza, a grocery-anchored shopping center with national tenants including Chase Bank, Domino’s Pizza, Subway, & Rent-A-Center, and more. Additionally, the site is...

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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
2028 Total Population : 45,558 229,255 445,465
2023 Total Population : 46,281 231,862 451,782
2023 Employed Civilian Pop : 20,453 98,438 179,587
2023 Total Businesses : 657 4,147 7,760
2023 Average Household Income : $ 59,240 $ 66,757 $ 64,127
2023 Total Consumer Spending : $ 1151 M $ 6212 M $ 10966 M
2023 Median Age : 40 39 38
2023 Total Households : 22,209 106,384 195,154
2023 Pop Age 25+: Bachelor's Degree : 5,381 28,094 49,387
2023 Average Home Value : $ 260,618 $ 293,886 $ 267,840
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Jeffery Boulevard E 71st St 2018 16,200 0.02 mi
South Jeffery Boulevard S South Chicago Ave 2022 10,300 0.03 mi
South Chappel Avenue E 67th St 2022 7,350 0.05 mi
South Chappel Avenue S Chappel Ave 2018 600 0.05 mi
South Clyde Avenue E 71st St 2018 500 0.11 mi
S Jeffery Blvd E 70th St 2006 24,700 0.11 mi
S Clyde Ave Alley 2010 1,450 0.12 mi
S Euclid Ave E 72nd St 2010 450 0.14 mi
South Merrill Avenue E 71st St 2018 1,050 0.17 mi
South Bennett Avenue E 71st St 2018 700 0.18 mi

Listing Broker

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