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Views: 99 DOM: 213 Updated: 10.31.24 Posted: 05.13.24 Status: Active

Summary

Price $4,375,000
Built/Renov 2006
Tenant Walgreens
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,550
Lease Start 11-01-2006
#Units 13,532
Price/SF $300.69
Expiration 10-31-2031
Tenant Type Pharmacy
NOI $350,000
R. Term 6.10
Ownership Fee Simple
Rent/SF $24.05
Increases 0.0%/0/yrs
Pop 5Mi 75,001
Lot/AC 1.74
Options 0/0yrs
AHHI 5Mi $96,481

Lease Highlights

  • Walgreens has been operating in this location since 2008
  • The lease has a 75-year base term & Walgreens has the right to terminate at year 25 (10/31/31) and every 5 years thereafter
  • Rent is flat with no increases
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located on West Genesee Street, with access to 15,480 vehicles passing by daily. The property is situated 1.4 miles from Costco and 0.2 miles from Walmart Supercenter and Lowe’s, making this a “Main and Main” intersection. The area boasts other well-known national tenants including McDonald’s, Dunkin’ Donuts, Wendy’s, and more. The 5-mile trade area is supported by a...

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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
2029 Total Population : 7,682 32,989 71,543
2024 Total Population : 7,932 33,875 73,218
2024 Employed Civilian Pop : 4,203 17,568 37,621
2024 Total Businesses : 274 902 2,103
2024 Average Household Income : $ 97,784 $ 109,333 $ 102,239
2024 Total Consumer Spending : $ 316 M $ 1407 M $ 2812 M
2024 Median Age : 43 43 41
2024 Total Households : 3,673 14,694 31,260
2024 Pop Age 25+: Bachelor's Degree : 1,190 6,002 12,218
2024 Average Home Value : $ 217,934 $ 248,328 $ 251,096
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
West Genesee Street Whedon Rd 2021 19,918 0.03 mi
W Genesee St 209 2003 15,480 0.07 mi
W Genesee St Camillus Mall 2004 14,975 0.19 mi
Sherwood Dr 2021 126 0.29 mi
Sanderson Dr 2021 861 0.30 mi
Mansfield Dr 2021 389 0.44 mi
209 Edwards Dr 2004 10,100 0.46 mi
155 Partridgeberry Dr 2004 10,800 0.52 mi
Yorkshire Blvd 2021 92 0.67 mi
Knowell Road Bennett Rd 2021 7,235 0.69 mi

Listing Broker

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