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Walgreens
1080 Southwest 1st Avenue, Canby, OR 97013
$5,155,000
Cap Rate 5.75%
Summary
| Price $5,155,000 | Built/Renov 2007 | Tenant Walgreens |
| Cap Rate 5.75% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
14,820
| Lease Start
02-01-2023
| #Units
8,896
|
| Price/SF $347.84 | Expiration
01-31-2038
| Tenant Type Pharmacy |
| NOI $296,400 | R. Term 14.1 | Ownership Fee Simple |
| Rent/SF
$20.00
| Increases 5.0%/5/yrs | Pop 5Mi 43,154 |
| Lot/AC 1.39 | Options 12/5yrs/5% | AHHI 5Mi $113,358 |
| | |
Lease Highlights
- Walgreens recently signed a brand new 15-year lease with 12 (5-year) options to extend
- Lease features 5% rental increases every 5 years throughout the initial term and each option
- Absolute NNN | Zero landlord responsibilities
- Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
- Investment grade tenant (S&P: BBB)
Location Description
Walgreens is strategically located at the signalized, hard corner intersection of State Highway 99E and Southwest Berg Parkway which supports over 29,000 vehicles per day. Furthermore, the asset is ideally positioned adjacent to Canby Square, a 117,000 SF neighborhood center that’s home to Safeway, Big 5, Ace Hardware, Dollar Tree, and more. Other nearby national/credit tenants include Fred...
...Features
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Signalized intersection
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Hard corner intersection
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Dense retail corridor
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Near major nationals
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Top 100 MSA
-
Affluent AHHI $100K 5 Mi
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Brand new lease
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Absolute NNN
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Traded and rated company
-
Investment grade tenant
...
Maps
Tenant
- 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...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 8,596 | 22,568 | 44,459 |
| 2023 Total Population : | 8,330 | 22,066 | 43,575 |
| 2023 Employed Civilian Pop : | 3,871 | 10,633 | 20,899 |
| 2023 Total Businesses : | 480 | 829 | 1,628 |
| 2023 Average Household Income : | $ 100,420 | $ 110,013 | $ 116,573 |
| 2023 Total Consumer Spending : | $ 271 M | $ 770 M | $ 1701 M |
| 2023 Median Age : | 41 | 41 | 42 |
| 2023 Total Households : | 3,132 | 8,187 | 16,968 |
| 2023 Pop Age 25+: Bachelor's Degree : | 1,050 | 3,372 | 8,247 |
| 2023 Average Home Value : | $ 421,743 | $ 538,128 | $ 622,863 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Pacific Hwy | SW 1st Ave | 2009 | 2,430 | 0.03 mi |
| SW 1st Ave | Pacific Hwy | 2012 | 22,200 | 0.04 mi |
| Southwest Pacific Highway East | 2018 | 21,100 | 0.10 mi | |
| Pacific Highway East | SW Berg Pkwy | 2018 | 23,900 | 0.11 mi |
| SW Berg Pkwy | 2009 | 5,550 | 0.13 mi | |
| Southwest Pacific Highway East | SW 1st Ave | 2020 | 19,502 | 0.21 mi |
| Southwest Pacific Highway East | N Oak St | 2021 | 21,589 | 0.21 mi |
| NW 3rd Ave | N Cedar St | 2009 | 1,230 | 0.29 mi |
| N Cedar St | NW 3rd Ave | 2009 | 2,170 | 0.30 mi |
| N Cedar St | NW 3rd Ave | 2009 | 1,850 | 0.35 mi |
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