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Views: 56 DOM: 192 Updated: 05.20.24 Posted: 11.17.23 Status: Active

Summary

Price $4,075,000
Built/Renov 2002
Tenant Walgreens
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,490
Lease Start 06-01-2022
#Units 13,532
Price/SF $281.23
Expiration 05-31-2027
Tenant Type Pharmacy
NOI $326,000
R. Term 3.0
Ownership Fee Simple
Rent/SF $22.50
Increases 0.0%/4/yrs
Pop 5Mi 201,131
Lot/AC 1.54
Options 10/5yrs
AHHI 5Mi $102,231

Lease Highlights

  • Walgreens has 3+ years remaining on the current lease term with 10 (5-year) options
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease
  • Investment grade tenant (S&P: BBB)

Location Description

Walgreens is conveniently located at the signalized, hard corner intersection of S. Yale Avenue and E. 81st St., which see a combined 42,100+ vehicles passing by daily. The site is positioned in a dense retail corridor, with neighboring retailers including Dollar Tree, CVS, McDonald’s, Whole Foods, and many others, creating a strong consumer drive to the trade area. The property is just two...

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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 : 11,570 94,977 214,501
2023 Total Population : 11,509 93,816 210,680
2023 Employed Civilian Pop : 6,506 49,434 109,438
2023 Total Businesses : 724 5,045 12,224
2023 Average Household Income : $ 118,005 $ 103,697 $ 102,770
2023 Total Consumer Spending : $ 516 M $ 3631 M $ 7977 M
2023 Median Age : 44 41 40
2023 Total Households : 5,105 40,710 90,185
2023 Pop Age 25+: Bachelor's Degree : 3,094 21,538 44,339
2023 Average Home Value : $ 332,325 $ 310,992 $ 314,376
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E 81st St S Yale Ave 2017 18,300 0.06 mi
E 81st St S Yale Ave 2017 20,300 0.08 mi
S Yale Ave E 81st St 2017 29,000 0.10 mi
S Yale Ave E 81st St 2017 31,300 0.11 mi
E 81st St E 24th Pl 2011 15,800 0.35 mi
S Yale Ave E 77th St 2011 26,200 0.36 mi
E 81st St Utica Sq 2015 15,300 0.38 mi
East 81st Street 2019 17,100 0.48 mi
South Yale Avenue E 87th St 2019 18,900 0.51 mi
South Yale Avenue S Yale Pl 2019 20,600 0.51 mi

Listing Broker

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