Views: 0 DOM: 100 Updated: 10.28.23 Posted: 09.02.23 Status: Active


Price $9,133,333
Built/Renov 2007
Tenant Walgreens
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,823
Lease Start 07-01-2007
#Units 8,896
Price/SF $616.16
Expiration 06-30-2032
Tenant Type Pharmacy
NOI $479,500
R. Term 8.6
Ownership Fee Simple
Rent/SF $32.35
Increases 0.0%/0/yrs
Pop 5Mi 304,312
Lot/AC 0.99
Options 10/5yrs
AHHI 5Mi $74,179

Lease Highlights

  • Walgreens has been operating in this location for 16+ years
  • The tenant has 8+ years of firm term remaining with 10 (5-year) option periods left to extend
  • The offering features assumable financing (see OM for details)
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease is guaranteed by the corporate entity
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Oakland Avenue and Locust Street, averaging a combined 35,500 vehicles passing by daily. The asset benefits from direct access onto State Highway 32 (19,500 VPD), State Highway 190 (38,700 VPD), and Interstate 43 (148,000 VPD), providing direct access across the Milwaukee MSA. Walgreens is ideally situated within...



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  • 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...



  1 Miles 3 Miles 5 Miles
2028 Total Population : 33,679 138,724 305,027
2023 Total Population : 33,994 136,070 302,695
2023 Employed Civilian Pop : 20,052 69,829 136,395
2023 Total Businesses : 839 6,631 11,472
2023 Average Household Income : $ 89,527 $ 91,438 $ 77,509
2023 Total Consumer Spending : $ 1247 M $ 5146 M $ 8817 M
2023 Median Age : 27 32 31
2023 Total Households : 15,854 64,374 129,459
2023 Pop Age 25+: Bachelor's Degree : 6,614 25,643 40,424
2023 Average Home Value : $ 353,756 $ 320,462 $ 271,819
*ESRI data is presented for informational purposes only


Collection Street Cross Street Year Traffic Vol Distance
N Oakland Ave E Linnwood Ave 2010 11,600 0.02 mi
E Locust St N Murray Ave 2010 10,600 0.11 mi
North Oakland Avenue E Kenwood Blvd 2019 11,000 0.12 mi
E Locust St N Newhall St 2007 23,000 0.13 mi
E Kenwood Blvd N Murray Ave 2004 10,600 0.20 mi
N Maryland Ave E Linnwood Ave 2010 5,600 0.23 mi
N Maryland Ave E Locust St 2010 6,300 0.27 mi
East Kenwood Boulevard N Maryland Ave 2019 4,400 0.27 mi
N Oakland Ave E Hampshire St 2019 10,800 0.30 mi
East Kenwood Boulevard N Maryland Ave 2019 5,100 0.32 mi

Listing Broker

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