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Views: 75 DOM: 426 Updated: 05.14.24 Posted: 04.13.23 Status: Active

Summary

Price $3,851,428
Built/Renov 2008
Tenant Walgreens
Cap Rate 8.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,650
Lease Start 11-01-2018
#Units 13,532
Price/SF $282.16
Expiration 10-31-2033
Tenant Type Pharmacy
NOI $337,000
R. Term 9.4
Ownership Fee Simple
Rent/SF $24.69
Increases 0.0%/0/yrs
Pop 5Mi 19,822
Lot/AC 1.50
Options 0/0yrs
AHHI 5Mi $48,965

Lease Highlights

  • Walgreens has been operating in this location since 2008
  • Lease has over 10 years remaining with no options to extend
  • Absolute NNN lease with zero landlord responsibilties
  • Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

Walgreens is strategically located along US-25E which sees over 20,000 vehicles passing per day. Located along Barbourville’s main thoroughfare, nearby retailers including Walmart, IGA (grocery), Ace Hardware, McDonald’s, Dollar General, PNC Bank, Taco Bell, Tractor Supply, KFC, and more. Additionally, the site is near Union College with 1,200 students enrolled and Appalachian Regional...

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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 : 1,928 7,983 10,896
2023 Total Population : 1,977 8,170 11,137
2023 Employed Civilian Pop : 752 2,778 3,626
2023 Total Businesses : 153 408 437
2023 Average Household Income : $ 49,965 $ 57,886 $ 53,633
2023 Total Consumer Spending : $ 38 M $ 170 M $ 217 M
2023 Median Age : 41 41 41
2023 Total Households : 853 3,264 4,486
2023 Pop Age 25+: Bachelor's Degree : 141 736 846
2023 Average Home Value : $ 174,500 $ 163,570 $ 158,046
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Cumberland Gap Pkwy Terrell Ln 2000 23,289 0.04 mi
Old US Hwy 25E Loop Number 2 Old 25 E Hwy 2000 6,584 0.10 mi
Cumberland Gap Pkwy True Haft Blvd 2000 18,087 0.23 mi
Old 25 E Indian TrceCir 2000 6,496 0.26 mi
Cumberland Gap Pkwy Broughton Hollow Rd 2000 23,311 0.48 mi
Tremco Manufacturing Company Rd Cr-1618 2014 3,943 0.50 mi
Cumberland Gap Parkway Broughton Branch Rd 2021 21,787 0.63 mi
Old US Hwy 25E Loop Number 2 Bradley Martin Ln 2000 4,289 0.64 mi
Cumberland Ave Eastside Ests 2010 6,970 0.67 mi
Cumberland Gap Pkwy Noeville Hollow Rd 2015 17,457 0.68 mi

Listing Broker

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