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Views: 33 Updated: 09.12.24 Posted: 08.12.24 Status: Inactive 10.08.24

Summary

Price $4,000,000
Built/Renov 1998
Tenant Walgreens
Cap Rate 7.25%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 10,908
Lease Start 09-11-1998
#Units 13,532
Price/SF $366.70
Expiration 10-31-2028
Tenant Type Pharmacy
NOI $290,169
R. Term 4.0
Ownership Fee Simple
Rent/SF $26.60
Increases 14.0%/4/yrs
Pop 5Mi 139,521
Lot/AC 1.25
Options 4/5yrs/2%
AHHI 5Mi $101,300

Lease Highlights

  • Walgreens has been operating in this location since 1998
  • The tenant has 4+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features a 14% increase at the end of the remaining term, 2% at the start of each remaining option
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the hard corner intersection of Old Town Road and St. Andrews Boulevard, with access to a combined daily traffic count of 46,135 vehicles. The property is conveniently situated near Highway 17 and is surrounded by well-known national tenants such as Circle K, Little Caesars, Taco Bell, Michaels, and more. Nearby housing communities include The Jasper...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Walgreens
  • Guarantor:Corp T and Rated
  • Company:Walgreens Boots Alliance
  • # Units:13,532
  • Tenant S&P: BBB-
  • Moody’s: Baa2
  • 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...


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Listing Broker

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