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Views: 193 DOM: 677 Updated: 11.22.24 Posted: 01.25.23 Status: Active

Summary

Price $7,348,885
Built/Renov 2003
Tenant Walgreens
Cap Rate 6.10%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,732
Lease Start 08-01-2022
#Units 13,532
Price/SF $535.16
Expiration 09-30-2033
Tenant Type Pharmacy
NOI $448,282
R. Term 8.10
Ownership Fee Simple
Rent/SF $32.65
Increases 1.5%/5/yrs
Pop 5Mi 209,139
Lot/AC 1.61
Options 6/5yrs/1.5%
AHHI 5Mi $74,630

Lease Highlights

  • Walgreens recently signed a new 10-year extension
  • Tenant has 8+ years remaining on its current lease term with 6 (5-years) options to extend
  • Lease features 1.5% rental increases every 5 years (next increase October 2023)
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Onondaga Boulevard and Velasko Road with over 20,582 vehicles passing by daily. Additionally, the building features a drive-thru pharmacy, providing ease of access and convenience for customers. Major retailers in the immediate area include Wegmans, Dunkin Donuts, Taco Bell, McDonald’s, The UPS Store and more....

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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
2028 Total Population : 11,653 101,379 211,490
2023 Total Population : 11,863 102,066 212,899
2023 Employed Civilian Pop : 5,686 41,825 93,502
2023 Total Businesses : 238 4,728 7,478
2023 Average Household Income : $ 83,352 $ 68,392 $ 74,766
2023 Total Consumer Spending : $ 371 M $ 2461 M $ 5726 M
2023 Median Age : 37 33 36
2023 Total Households : 5,099 40,994 87,569
2023 Pop Age 25+: Bachelor's Degree : 1,855 12,009 27,068
2023 Average Home Value : $ 190,920 $ 210,855 $ 215,590
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Velasko Road Boyle Dr 2021 10,482 0.08 mi
Velasko Road Grand Ave 2021 12,264 0.09 mi
Bellevue Ave Bungalow Ter 2019 2,245 0.15 mi
Grand Avenue Velasko Rd 2018 11,510 0.18 mi
Homer Ave Pardee Ave 2019 7,438 0.39 mi
Glenwood Avenue 2018 2,959 0.40 mi
Bellevue Avenue Winkworth Pkwy 2018 3,072 0.44 mi
W Onondaga St 2021 848 0.44 mi
Glenwood Ave 2021 2,335 0.47 mi
South Avery Avenue Salisbury Rd 2021 7,009 0.47 mi

Listing Broker

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