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Views: 83 DOM: 504 Updated: 05.14.24 Posted: 01.25.23 Status: Active

Summary

Price $4,174,194
Built/Renov 2008
Tenant Walgreens
Cap Rate 7.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,550
Lease Start 07-01-2022
#Units 13,532
Price/SF $286.89
Expiration 08-31-2033
Tenant Type Pharmacy
NOI $323,500
R. Term 9.2
Ownership Fee Simple
Rent/SF $22.23
Increases 0.0%/0/yrs
Pop 5Mi 25,400
Lot/AC 1.64
Options 0/0yrs
AHHI 5Mi $66,107

Lease Highlights

  • Well performing store with long term historical tenancy since 2008
  • Walgreens has over 10 years remaining on their current term with no options to extend
  • Lease does not feature any rent increases in the current term
  • Absolute NNN lease zero landlord responsibilities
  • Corporate guarantee by Walgreens Boots Alliance
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of S Walker Street and Stafford Drive with clear visibility and access to more than 30,500 vehicles passing by daily. Additionally, the building features a drive-thru pharmacy, providing ease of access and convenience for customers. The surrounding corridor includes several medical tenants such as Princeton Community...

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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 : 4,576 17,848 26,811
2023 Total Population : 4,729 18,307 27,419
2023 Employed Civilian Pop : 1,977 7,790 11,687
2023 Total Businesses : 464 909 1,094
2023 Average Household Income : $ 58,483 $ 65,488 $ 65,319
2023 Total Consumer Spending : $ 111 M $ 475 M $ 695 M
2023 Median Age : 48 46 45
2023 Total Households : 2,142 8,169 11,987
2023 Pop Age 25+: Bachelor's Degree : 581 2,122 3,508
2023 Average Home Value : $ 122,185 $ 132,456 $ 136,236
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Bluefield Road Morrison Dr 2021 15,703 0.11 mi
Stafford Drive Old Bluefield Rd 2021 13,651 0.15 mi
Orchard Ave Cthouse Rd 2015 11,202 0.25 mi
South Walker Street South Ave 2021 9,288 0.26 mi
Courthouse Road Hillside Dr 2021 10,831 0.31 mi
Ingleside Road Davis St 2021 11,701 0.33 mi
Ingleside Road South Ave 2021 6,089 0.34 mi
East Main Street Thorn St 2021 4,784 0.37 mi
East Main Street Harrison St 2021 3,926 0.39 mi
West Main Street S Johnston St 2021 4,554 0.39 mi

Listing Broker

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