Price $5,740,000 | Built/Renov 2017 | Tenant Walgreens (GL) |
Cap Rate 5.00% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
Size/SF
12,300
| Lease Start
06-06-2017
| #Units
8,896
|
Price/SF $466.67 | Expiration
06-30-2042
| Tenant Type Pharmacy |
NOI $287,000 | R. Term 18.6 | Ownership Ground Lease |
Rent/SF
$23.33
| Increases 10.0%/5/yrs | Pop 5Mi 845,436 |
Lot/AC 0.92 | Options 2/5yrs/10% | AHHI 5Mi $92,310 |
| |
Walgreens is ideally located with excellent frontage and visibility just off the intersection of Springfield Avenue and Grove Street, which has a combined daily traffic count of 30,000 vehicles. The subject property is located adjacent to the sprawling, 1,700+ unit Maple Gardens apartment complex, less than a mile away from 10 elementary schools, as well as Irvington High School and University...
...Signalized intersection
Hard corner intersection
Strategically located
Hospital close
Top 100 MSA
Long 15+ yr lease
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade 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...
1 Miles | 3 Miles | 5 Miles | |
2028 Total Population : | 67,409 | 431,089 | 856,639 |
2023 Total Population : | 67,942 | 426,223 | 847,080 |
2023 Employed Civilian Pop : | 29,149 | 188,338 | 399,793 |
2023 Total Businesses : | 1,043 | 10,068 | 22,142 |
2023 Average Household Income : | $ 62,607 | $ 80,627 | $ 93,902 |
2023 Total Consumer Spending : | $ 1339 M | $ 10683 M | $ 24849 M |
2023 Median Age : | 35 | 35 | 36 |
2023 Total Households : | 24,585 | 152,832 | 307,074 |
2023 Pop Age 25+: Bachelor's Degree : | 6,509 | 47,163 | 105,746 |
2023 Average Home Value : | $ 355,651 | $ 422,503 | $ 469,156 |
Collection Street | Cross Street | Year | Traffic Vol | Distance |
Springfield Ave | Ellis Ave | 2013 | 14,822 | 0.05 mi |
Grove St | Berkeley Ter | 2013 | 5,968 | 0.10 mi |
Madison Avenue | 2019 | 9,560 | 0.20 mi | |
Eastern Parkway | 2019 | 12,305 | 0.21 mi | |
Springfield Ave | Bruen Ave | 2006 | 22,055 | 0.21 mi |
Springfield Avenue | Bruen Ave | 2019 | 22,736 | 0.21 mi |
Eastern Pkwy | Berkeley Ter | 2017 | 4,344 | 0.23 mi |
Garden State Pkwy | Madison Ave | 2011 | 9,970 | 0.24 mi |
Garden State Parkway | Garden State Pkwy | 2017 | 235,003 | 0.25 mi |
Western Pkwy | W Avon Ave | 2011 | 5,190 | 0.25 mi |
Address: 929 Alton Road, Suite 500
Miami Beach, FL 33139
Telephone: (305) 977-7700
E-mail: [email protected]