Walgreens NNN Properties for Sale
Pharma Property Group has exclusively listed three NNN Walgreens for sale on the West Coast and Mountain West totaling $22,611,892 in value with an average lease term of 12 years and all have 10 (five-year) options.
Walgreens NNN property for sale has been around since the 1990’s. Third party build-to-suit developers began working with Walgreens to build out their national footprint and sell the underlying real estate to outside real estate investors. Typically, Walgreens for sale in the ‘90’s were 20-year terms and then eventually moved to 25-year lease terms. The landlords of Walgreens properties vary from institutional REITs to private investors throughout the country.
There are several ways to evaluate Walgreens NNN properties for sale which include lease length, lease option structure, rental increases, tenant credit, and underlying real estate quality.
What Is an NNN Investment?
NNN investments have many different lease types and are in many industries. Some NNN leases that are true absolute net leases have the landlord responsible for nothing whatsoever, and all expenses are paid directly by the tenant. Because the term “NNN leases” is used loosely, some brokers and investors may refer to a lease as NNN, even though the landlord may be responsible for roof, structure, parking lot, and may have to be reimbursed by the tenant for taxes or insurance. Walgreens NNN property for sale is typically absolute net, or the landlord is responsible for the roof, structure, capital improvements to the parking lot, and other minimal property repairs.
Having a real estate broker that has sold numerous Walgreens properties is essential when purchasing a Walgreens investment. Brokers that have experience in selling drugstores — including Walgreens, CVS, and Rite Aid — are able to underwrite these assets properly, allowing an investor to weigh their risk versus return.
Individual drugstore performance, real estate fundamentals, lease renewal likelihood, demographics, and traffic counts are a few considerations, in addition to the lease structures, that real estate brokers familiar with Walgreens properties will be able to analyze correctly for potential investors.
Real estate brokers who specialize in NNN properties typically will also have access to both their own listings and also off-market NNN properties for select investors they work with. It is prudent for any drugstore investor working with an NNN real estate broker for the first time to ask for a list of their personal drugstore transactions and exclusive listings that they have full control over.
A real estate broker who has personally sold and consistently has a number of Walgreens properties exclusively listed will be the most qualified for an investor to work with. Such a broker can also ensure for the investor that any Walgreens NNN property for sale is underwritten correctly and that all risks to the assets are known upfront.
What to Know Before Buying a Walgreens NNN Property
The positives to Walgreens property ownership include a strong corporate lease guarantee; healthy firm lease term before options; minimal landlord responsibilities; and typically good retail corner locations. Walgreens’ thousands of locations across the country demonstrate that they are a safe investment for property owners who want little management work and a secure income.
The barriers to entry to the drugstore sector are much greater in comparison to other retail chains. However, because of Walgreens’ stores unique positioning, they have the ability in the future to continue to make strategic partnerships within the healthcare sector.
With such a large North American footprint, many Walgreens stores are on the market, and investors must treat each location differently when considering a purchase. Not all Walgreens leases are the same and all stores have different sales volumes. As with any real estate investment, owners must also consider when purchasing Walgreens NNN property any prior environmental history, building and roof age, easements, property restrictions, future possible development, and other underwriting factors.
Another benefit to purchasing a Walgreens property is that prior to the development of a Walgreens, the developer or Walgreens typically reviews the parcel for the above considerations. As a result, there may be prior third-party reports on the site, allowing for a more transparent purchase. Additionally, Walgreens has approved and reviewed each store prior to construction for long-term positioning and profitability in the area.
Most Walgreens are located on signalized corners with high traffic counts and good access. Many are also located in surrounding retail corridors that have complementary retail or healthcare tenants that will drive traffic to the Walgreens location. A tenant like Walgreens allows investors many options when financing their investment. Lenders know that Walgreens leases are safe, and rents are predictable because of the chain’s strong financial position. For this reason, investors can achieve some of the best financing available with Walgreens in the NNN property market.
What Are the Differences Among Walgreens Properties?
The main difference between lease types for Walgreens NNN property for sale is that they are not all absolute net. Some leases have the landlord responsible for the roof and structure, while others may have certain expenses such as tax, insurance, landscaping, or other maintenance items paid for by the landlord.
These expenses are sometimes reimbursed by Walgreens but may not be reimbursed, giving landlords additional out-of-pocket expenses that must be considered in their pricing. Walgreens with more management or out-of-pocket expenses will trade at higher CAP rates because there is a smaller buyer pool willing to deal with certain management items.
Walgreens leases will also vary in firm lease term length before the option periods and may have different lease option structures. The longer the guaranteed rent in the firm lease term before the lease renewal options, then the lower the return for an investor. In addition, shorter initial lease terms have fewer financing options available during the purchase and at a possible refinance event once an investor’s loan comes to maturity.
Walgreens locations need to be viewed differently even if they have similar lease terms remaining before the options and similar lease types. Analyzing the lease renewal probability is the most important analysis an investor can do during a purchase of a drugstore. The likelihood of lease renewal of a Walgreens NNN property that’s for sale hinges on many factors. When an investor’s loan comes due, performance of the Walgreens location, surrounding competition, local population, and employment growth are just a few issues that come into play when analyzing if Walgreens plans to renew their lease.
- Walgreens signed a new 15-year lease with 5% increases every 5 years.
- Southernmost Walgreens location in Santa Clarita Valley, 1 of only 4 Walgreens serving over 221,345 residents.
- Los Angeles County is the most populous county in the United States with over 9.7 million residents as of 2023.
- Approximately 28,000 households in the immediate 3-mile trade radius, with an average household income of over $100,000.
- Located off I-5 (180,000 VPD) on a highly visible signalized intersection with over 63,000 vehicles daily.
- Walgreens acquired this store from Rite Aid and rebranded it as a preferred location in 2019.
- Located on the east side of the Hudson River at the entrance to The Troy Waterford Bridge (11,000 VPD). The bridge connects to Highway 32 and leads south to meet with Interstate 787 (±79,000 vehicles per day).
- There are over 4 years remaining on the lease term with 4 (5-year) options and ±5% increases at the beginning of each five-year option.
- Samaritan Hospital, a 277-bed hospital with over 1,400 physicians and medical staff that serves the areas of Troy, Albany and Schenectady is located 4.5 miles south of the property.
- Located twelve miles north of Albany and part of the Albany MSA with a population of over 1,239,000 people which has the largest year over year increase in population among New York’s 13 metro areas.
- Close proximity to Rensselaer Polytechnic Institute (RPI), a school district that employs about 600-700 individuals and serves approximately 4,000 students across its elementary, middle, and high schools.
- Two blocks north of the West Campus of Maine's State Capitol Buildings.
- Two Government campuses totaling 1.59 million square feet within a 1-mile radius.
- Maine General Health's Augusta Hospital is the largest private employer serving 88 cities in the region.
- Augusta and its downtown area are Designated Opportunity Zones.
- Infill Houston MSA demographics with ±500,000 people in ±189,000 residences with an average HH income of $80,0134 in a 5-mile radius.
- Directly across the corner from an emergency room connected to the HCA Houston Hospital System.
- Highly visible and trafficked signalized corner with a combined traffic count of ±74,416 vehicles per day.
- There are ±37 multi-housing complexes with over 11,500 units and 15 hotels with over 1,200 rooms all within a 1-mile radius.
- The lease operates on an absolute net leased basis and there are no landlord responsibilities whatsoever.
- Located within Westchase Business District which is home to large corporations such as Honeywell, Chevron, Dow Chemical and Phillips 66 with ±16M square feet of office space within a 4-mile radius.
- Absolute net lease with no landlord responsibilities whatsoever.
- One mile west of Interstate 4 with 130,000 vehicles per day.
- Medical corridor location just a half mile from Debary Health & Rehabilitation Center (120 Beds).
- Just north of Orlando near Disney World and Daytona Speedway.
- Amazon fulfillment center nearby with 1 million square foot facility 7 miles northeast and 130-acre Portland Industrial Park coming in 2024.
- Walgreens signed a new 15-year lease with 5% increases every 5 years.
- Zephyrhills is the largest city in Pasco County and has seen a 29% population increase since 2010.
- Over 950 new homes under construction within 2 miles of the Subject property.
- Florida's absence of state income tax makes it an attractive location for investment
- There are 7 assisted living facilities within 3 miles of the Subject Property to accommodate the 70% of the Zephyrhills population that are 50 years old and older.
- Walgreens has exceptional annual reported sales and a 14+ years of operating history.
- No immediate national drugstore chain competition with the next closest national chain drugstore being a CVS 91 miles west and the closest Walgreens is 98 miles east.
- District 177, a $75 Million redevelopment project located across the street including 96 apartments and ±480K SF of street-level retail space.
- Great Plains Health Hospital is located 1 mile southwest with 116 beds, 1,100 employees and 183K patients per month.
- Sustainable Beef's $325 Million facility is located 2.5 miles southeast and is opening Summer 2025 with 500K SF and projected to add 875 new jobs.
- Dense retail corridor with 1.6 million square feet of retail space in a 1-mile radius.
- Near Union Pacific's Bailey Yard, the largest railroad yard in the world with 14K rail cars per day.
- Lease allows for 5% rental increases every five years through 2049 with the next rental increase in May 2025.
- Beaumont Hospital is located just one block south of subject property with 148 beds and 1,094 employees.
- Over 16 million square feet of industrial space within a 3-mile radius and 2.3 million square feet of retail space within a 2-mile radius.
- Infill Detroit Metro demographics with Over 244,000 residents within 97,686 households in a 5-mile radius with an average household income of $71,255.
- Located just south of I-94 (155,000 VPD) on the corner of Telegraph Road and Wick Road with a combined traffic count of 66,422 vehicles per day.
- Approximately 4 miles east of Detroit Metropolitan Airport with 36.7 million annual passengers and over 1,100 flights daily.
- Just 8 miles southwest of Ford's 16M square foot world headquarter campus.
- Located less than half a mile from the Kalamazoo Event Center, a $300 million project expected to break ground in November of 2024.
- Close proximity to WMU which consists of 22,500 students and employs 803 faculty as well as Kalamazoo College with 1,378 students.
- In 2014, Walgreens relocated to this site, building a new prototype store in a high-barrier-to-entry market to enhance visibility, with approximately 42,000 vehicles passing by daily.
- The Kalamazoo area serves as headquarters for Fortune 500 companies Stryker & Zoetis, with over ±1.2 million square feet in office/warehouse space. Additionally, Pfizer maintains a substantial presence in the region with their 1,300-acre manufacturing facility.
- Located less than two miles from the subject property, Bronson Methodist Hospital consists of 434 beds and operates on a 28-acre campus.
- Central Business District, which is located in Downtown Kalamazoo, is home to over 1,000 businesses in the surrounding area.
- Within a 10-mile radius there is ±61.8M square feet of industrial space including distribution and manufacturing for companies such as Amazon, Starbucks, DHL, FedEx, and Post.
- Property is located across the corner from CVS making this a strategic location for both Walgreens and CVS.
- Interstate 83 is blocks from the Property with a traffic count of ±79,000 vehicles per day.
- Within a 3-mile radius, the average household income is $81,069 and the population is 153,292 residents in a 5-mile radius.
- Located 2 miles northwest is WellSpan York Hospital, a teaching hospital with 593 beds and over 5,000 medical staff and employees.
- Two blocks south is York County School of Technology with ±1,700 students and ±120 staff.
- Within a 2-mile radius there are 8 senior housing facilities totaling approximately ±388,898 square feet.
- New developments within 2 miles include Evolve at Waterford, Exchange at Westgate, Brunswick Forest and Inspire at Brunswick Forest totaling 1,178 units.
- 1 million square feet of retail space in the immediate 1-mile radius anchored by Aldi, Harris Teeter and Walmart Supercenter.
- Located on a signalized corner with frontage on Ocean Highway E (56,000 VPD) and with direct access to Andrew Jackson Highway NE (71,000 VPD).
- Leland’s population increased 70% from 2010 to 2020 and is currently growing at a rate of 8.25% annually.
- Positioned less than 2 miles from Novant Health Brunswick Forest Medical Plaza which services the Greater Leland market.
- With a 2.5% corporate tax rate, North Carolina is continually ranked as one of the best business climates in the United States. CNBC named the state as America’s top state for business.
- Both the store and pharmacy are open 24 hours a day, with strong sales figures of ±$3.25 million being reported.
- Ranked in the top 10% of all Walgreens nationwide in customer visits, according to Placer.Ai.
- CVS is located directly adjacent to the subject property with the next nearest Walgreens over 11 miles to the east.
- Located two miles east of Jefferson Memorial Hospital.
- Oshkosh Corporation, a Fortune 500 company, has a 500,000 square foot facility in Jefferson City and employs approximately 300 employees.
- Walgreens benefits from being located in a 964,000 SF retail corridor with nearby national tenants such as Tractor Supply Co., CVS, Walmart Supercenter, Lowes, Dollar General, O'Reilly, Advance Auto Parts, and Food City.
- Cherokee Reservoir is located 2.5 miles to the north and attracts 1 to 2 million visitors annually.
- Within a 5-mile radius, the population consists of 224,973 residents with an average household income of $110,554.
- Walgreens exercised an option early in 2021 showing commitment to this location.
- A rental increase is scheduled in the fixed term on January 1, 2027 to $291,500.
- Located at the signalized corner of San Pablo Avenue and Richmond Parkway with a combined traffic count of ±46,000.
- Walgreens is paying $19.13 annual rent per square foot which is below market for the area.
- Walgreens extended this lease by 10 years in March of 2024 showing commitment to this location.
- This is an absolute net lease with no landlord responsibilities whatsoever.
- Walgreens is reporting exceptional sales volumes at this location.
- The lease allows for 5% rental increases at each of the options.
- Within a 5-mile radius, the household income is $117,632 with a population of 128,470 residents.
- More than 1 million square feet of medical space in a 5-mile radius including WakeMed Hospital (61 beds) located 3.6 miles southwest and UNC Rex Healthcare Surgery Center (outpatient) just 1.3 miles northeast.
- Over 2,000 apartment units within a 1-mile radius including two blocks from an independent senior living complex with 121 units.
- Walgreens recently committed capital at this location for interior renovations to the pharmacy and an addition of a private health room for pharmacists to provide pharmacy customers with consultation and medication instructions, demonstrating their long-term commitment to the location.
- According to Placer.AI, this location is rated #1 in customer visits of Walgreens stores in a 50-mile radius.
- This store will benefit from an expanded script base as Walgreens recently acquired all of Rite Aid’s files in the Lima Market.
- One of only two Walgreens serving over 101,000 residents.
- Open two hours later than competing Walgreens in Lima.
- Located 1.5 miles from Mercy Health-St. Ritas Medical Center with 3,000 employees.
- Over 2.6 million square feet of retail space within 1.5 miles of the Property.
- Walgreens has a history of strong reported sales volumes at this location.
- Less than 1 mile of ThedaCare Regional Medical Center which is the region's largest employer (7,000+ employees, 172 beds).
- Dense retail and industrial trade area with 6.2 million square feet of retail space and 8.3 million square feet of industrial space in a 3-mile radius.
- Located directly across the street from Edenbrook Nursing Home (150 beds) and 0.7 miles from Rennes Health and Rehabilitation Center (88 beds).
- Appleton is the 6th largest city in Wisconsin with a population of 143,000 in a 5-mile radius.
- Located at the signalized hard corner with strong combined traffic count of 30,000 VPD and blocks from Interstate 41 with traffic count of 76,200 VPD.
- Recent 10 Year Extension showing Walgreens commitment to this location.
- This Walgreens benefits from limited competition with no other Walgreens for over 11 miles, and no competing CVS for over 2 Miles.
- Property is located within the Philadelphia-Camden-Wilmington Metropolitan Statistical Area, the 8th largest MSA in the United States with a population of over 6.2 million people.
- The average household income within a 1-mile radius is $107,926, within a 3-mile radius it is $104,930 and within a 5-mile radius it is $112,191.
- Apart from Walgreens, the three additional tenants have lease expirations over the next few years providing a potential value add component.
- This is the only Walgreens or CVS for over 13 Miles.
- Purcell Municipal Hospital, a brand new $18 million state-of-the-art facility opened in 2022.
- The property benefits from its position on the signalized hard corner of West Washington Street and Green Ave which is the main thoroughfare running through Purcell.
- The Property is located just east of I-35, which serves as the main connector between Oklahoma City to Fort Worth/ Dallas.
- The 5-mile population has grown over 10% over the past four years and is projected to continue expanding at over 3% through 2029.
- Chickasaw Nation Purcell Health Clinic employs approximately 100 employees and serves more than 10,000 patients every year.
- Over 12 million square feet of industrial space in a 5-mile radius including major companies like Hyundai and FedEx.
- Opposite corner to CVS and next Walgreens 4.4 miles away making this a strategic location for both Walgreens and CVS.
- There are 844 multifamily units within the immediate 1-mile radius.
- Centrally located between three major interstates that connect Shreveport west to Dallas/Ft. Worth, TX, south to Baton Rouge/New Orleans, LA and west to Jackson, MS.
- Within two blocks of the property are located a high school, junior high and elementary school with a combined 2,481 students.
- Just 3 miles west of Shreveport Regional Airport with 560,000 annual passengers.
- The Property is located in a designated Opportunity Zone.
- Within a 5-mile radius, the population is ±365,021 residents within ±154,024 households.
- Ohio State University is located about 3 miles from the Property and enrolls ±60,000 students.
- The Property sits two blocks from Northern Lights shopping center, a 360,471 square foot mall.
- CVS is located directly across the street making this a strategic location for both CVS and Walgreens. CVS has closed its retail portion of the store and only the pharmacy remains open.
- Nationwide and JP Morgan Chase employs over 35,000 employees in the Columbus market, with Intel recently announcing a $20 billion local investment in manufacturing, creating over 10,000 new jobs.
- Columbus, Ohio is the 7th largest economy in the United States, and Ohio has 0% state corporate income or profits tax.
- Two blocks north of the West Campus of Maine's State Capitol Buildings.
- Two Government campuses totaling 1.59 million square feet within a 1-mile radius.
- Maine General Health's Augusta Hospital is the largest private employer serving 88 cities in the region.
- Augusta and its downtown area are Designated Opportunity Zones.
- Walgreens signed a new 15-year lease with 5% increases every 5 years.
- Zephyrhills is the largest city in Pasco County and has seen a 29% population increase since 2010.
- Over 950 new homes under construction within 2 miles of the Subject property.
- Florida's absence of state income tax makes it an attractive location for investment
- There are 7 assisted living facilities within 3 miles of the Subject Property to accommodate the 70% of the Zephyrhills population that are 50 years old and older.
- New developments within 2 miles include Evolve at Waterford, Exchange at Westgate, Brunswick Forest and Inspire at Brunswick Forest totaling 1,178 units.
- 1 million square feet of retail space in the immediate 1-mile radius anchored by Aldi, Harris Teeter and Walmart Supercenter.
- Located on a signalized corner with frontage on Ocean Highway E (56,000 VPD) and with direct access to Andrew Jackson Highway NE (71,000 VPD).
- Leland’s population increased 70% from 2010 to 2020 and is currently growing at a rate of 8.25% annually.
- Positioned less than 2 miles from Novant Health Brunswick Forest Medical Plaza which services the Greater Leland market.
- With a 2.5% corporate tax rate, North Carolina is continually ranked as one of the best business climates in the United States. CNBC named the state as America’s top state for business.
- This is the only Walgreens or CVS for over 13 Miles.
- Purcell Municipal Hospital, a brand new $18 million state-of-the-art facility opened in 2022.
- The property benefits from its position on the signalized hard corner of West Washington Street and Green Ave which is the main thoroughfare running through Purcell.
- The Property is located just east of I-35, which serves as the main connector between Oklahoma City to Fort Worth/ Dallas.
- The 5-mile population has grown over 10% over the past four years and is projected to continue expanding at over 3% through 2029.
- Chickasaw Nation Purcell Health Clinic employs approximately 100 employees and serves more than 10,000 patients every year.
- Within a 5-mile radius, the population is ±365,021 residents within ±154,024 households.
- Ohio State University is located about 3 miles from the Property and enrolls ±60,000 students.
- The Property sits two blocks from Northern Lights shopping center, a 360,471 square foot mall.
- CVS is located directly across the street making this a strategic location for both CVS and Walgreens. CVS has closed its retail portion of the store and only the pharmacy remains open.
- Nationwide and JP Morgan Chase employs over 35,000 employees in the Columbus market, with Intel recently announcing a $20 billion local investment in manufacturing, creating over 10,000 new jobs.
- Columbus, Ohio is the 7th largest economy in the United States, and Ohio has 0% state corporate income or profits tax.
Recently Sold Drugstores
- Located less than 0.2 of a mile from Russell Medical, a not-for-profit acute care hospital.
- Only national chain drugstore in Alexander City, next nearest Walgreens or CVS over 13 miles away.
- 14+ years of term remaining on an absolute net lease with eleven 5-year options to extend.
- Approx. 13 yrs. of term remaining before 10 (5-year) options, double net lease, landlord responsible for parking only.
- The lease allows for five percent (5%) rental increases in each of the ten (five-year) options.
- The lease structure for this asset does not include a rent holiday.
- Subject property is located in a two-mile radius of three different hospitals.
- Located in a retail hub with approximately 1.8 million square feet of retail space.
- 50 miles north of Tampa along at the central coast Gulf of Mexico.
- Five mile radius population is 82,480 and household income is $60.598.
- One of only ±400 Walgreens locations with an in-store healthcare clinic.
- Directly across the street from CVS making this a strategic location for both Walgreens and CVS.
- Surrounded by residential neighborhoods and located at Exit 246 of Interstate 10 ±12 miles northwest of downtown Tucson. Average household income is $90,069 in a three-mile radius and $83,659 in a five-mile radius and 281,588 in a ten-mile radius.
- High traffic count of 63,111 cars per day and located 3 miles from Highway 99 with approximately 137,000 cars per day.
- Wells Fargo subleases a portion of the space on an absolute net lease basis for an opportunity of supplemental income.
- Average HH income in a 1-mile radius is $79,529, in a 3-mile radius it is $83,335 and $77,942 in a 5-mile radius with a population of 251,698 in a five-mile radius.
- Located blocks from the Medical District of Memphis with four major hospitals totaling approximately 6.5 million square feet of medical space within a three mile radius.
- Located 2.5 miles outside of downtown Memphis and is part of the Memphis MSA with a population of over 1,340,000 residents.
- Across the street from a Kroger shopping center and near I-69 with traffic counts of over 124,706 VPD.
- Just 9.7 miles southwest of Downtown Tulsa, a metropolitan area with a population of over 1,000,000 people.
- Busy signalized intersection on Hwy. 97, the main north/south thoroughfare through Sand Springs with a combined traffic count of nearly 28,000 VPD.
- Just two miles west of Tulsa Community College West Campus which enrolls ±20,000 across 4 Tulsa campuses.
- 1 mile South of Marion General Hospital (49 beds), the main hospital for Columbia and across the street from Fast Past Health Urgent Care.
- Located in the only shopping center anchored by national retail tenants for over 20 miles and there is 715,000 square feet of retail space in a 1-mile radius.
- Situated at the intersection of Sumrall Road and US-98 (traffic counts of 38,000 VPD) which serves as the east/west connector between Hattiesburg and McComb.
- Only Walgreens in a 12-mile radius serving the entire Eaton market.
- Kettering Medical Center is the only 24-hour emergency medical center in Preble County, Ohio.
- 1.4 million square feet of retail in the immediate 1-mile radius anchored by Walmart Supercenter.
- Kroger announced plans in August 2023 to build a 72,000-square foot store that will employ 100 workers.
- Less than 1.5 miles from Research Triangle Park (7,000 Ac.) with over 375 companies including Alexandria, Bayer, Cisco and IBM.
- Major developments within 3 miles include a $2 Billion mixed-use project (1 Million SF) with office, life-sciences, multi-family residential, and hotel.
- Over 685,000 SF of retail space in the immediate 1-mile radius with national tenants such as Starbucks, Food Lion, Big Lots, Dollar Tree, McDonald's and Chick-fil-A.
- Near HCA Florida Trinity Hospital with 240 beds and 1,400 employees (2.5 Mi SE).
- Strategic location on signalized corner directly across the street from Walgreens with traffic counts of roughly 50,000 VPD.
- Near residential and senior housing with three assisted living facilities within two miles and located at the main entry of ±700 residences.
- Across from Orange Park Mall, a ±953,000 SF anchored by Dillard's, JCPenney, Old Navy and Belk with ±3M SF of retail in 1-mile radius.
- Medical corridor location near HCA Florida Orange Park, a 365 bed hospital with 2,350 employees, and 832,000 SF of medical space in a 3-mile radius.
- Intersection with extremely high traffic count of approximately 100,500 vehicles per day combined.
- Both store and pharmacy are open 24 hours.
- Baptist Hospital of Southeast TX and Christus Southeast TX Hospital both within 1.5 miles with a total of 931 beds.
- Across from Gateway Shopping Center which contains ±460,000 square feet of retail space.
- Direct access to I-10 (±130,685 VPD) via College Street on signalized intersection with ±44,328 vehicles per day.
- Vacation and resort destination location including Disney World, Universal Studios & Island of Adventure and SeaWorld.
- Retail corridor near industrial sector including 7.8 million square feet of retail space in a 3-mile radius.
- Within 5 miles of 14.4 million square feet of industrial space.
- Major regional employers Walt Disney World, Advent Health, Universal Orlando and Orlando Health.
- Strong demographic profile with ±108,989 residents with a median household income of $104,964 in a 5-mile radius.
- University of Alaska - Anchorage with ±15,900 students and ±990 staff is 6.9 miles northeast.
- Providence Alaska Medical Center with 401 beds and ±2,000 employees is 7 miles northeast.
- Tampa MSA location with 22+ year operating history.
- Medical corridor including Florida Oak Hill Hospital, Encompass Health Hospital and Sturgill Hospice House.
- Retail corridor with major national tenants including ±1.4 million SF of retail space in a 0.5-mile radius.
- Located at merge of freeways I-69 and I-2. Both interstates have a combined traffic count of over 150,000 vehicles per day.
- Surrounded by national retail tenants, ±3.2 million square feet of retail space within 1 mile radius including Valley Vista Mall (651,000 SF) and Bass Pro Shop (150,000 SF).
- Strong cross-border economy with the Free Trade Bridge 13 miles away, a full US Customs facility accommodating 75 commercial trucks simultaneously.
- Recent third-party reports will be provided to buyer.
- Absolute net lease with zero landlord responsibilities.
- Adjacent to Mosquito Lake State Park with 3,000,000 visitors annually.
- Large trade radius with limited competition, no other Walgreens, CVS or Rite Aid besides the immediate corner for 5 miles.
- Dense residential area with nearly 200,000 residents within a 5-mile radius.
- One mile south of Hwy. 385 (±151,399 VPD) and two miles southeast of I-240 (±180,699 VPD) making Downtown Memphis just a 15 minute drive away.
- Busy intersection with approximately 54,087 vehicles per day.
- Located on Hwy-580 one of the main thoroughfares connecting western Tampa to the Tampa International Airport and downtown Tampa.
- Near HCA Florida West Hospital with 515 beds and the Mease Countryside Hospital with 300 beds.
- Just 3.5 miles southeast from Tampa Bay Downs which has approximately 24 million visitors annually.
- Outparcel to Target anchored Rolling Acres Plaza in main retail corridor across from Home Depot.
- Two miles from UF Health The Villages Hospital with 307 beds and approximately 1,161 employees.
- Located just south of The Villages, a collection of retirement neighborhoods in central Florida.
- Located in main retail corridor with 7.9M square feet of retail space within 3 miles.
- Approximately 316,993 residents within a 5-mile radius.
- Zoned RCC in Clackamas County with various development opportunities such as retail, multi-family and office.
- Absolute NNN lease with no landlord responsibilities whatsoever.
- Just 4 miles north of Ohio State University with over 66,000 students and 29,000 employees.
- Riverside Methodist Hospital is about 3 miles south and has 1,059 beds and 5,800 employees.
- Absolute net lease with zero landlord responsibilities and history of solid sales.
- ±7.5 million square feet of retail space and ±5.2 million square feet of office space in a 3-mile radius.
- High traffic intersection with ±92,000 vehicles per day and over 200,000 residents in a 5-mile radius.
- Chesapeake Regional Medical Center hospital is located ±2 miles south with 310 beds and ±3,000 employees.
- Dense economic region with 7M square feet of retail space, 3M square feet of office space and 2,600 multi-family units within a 3-mile radius.
- Heavily trafficked intersection with traffic count of over 40,000 vehicles per day.
- Affluent neighborhood with about $140,000 household income within a 1-mile radius.
- Located in an infill area on main retail corridor leading directly into Downtown Baton Rouge.
- Located on signalized SEC of Florida Blvd. & Lobdell Blvd. with a combined traffic count of ±77,903 VPD.
- Subject property is an outparcel to a 725,000 SF office park on 5.15 acres.
- Philadelphia MSA location with over 6,100,000 residents and 20 miles SE of downtown Philadelphia.
- East of The Shoppes at Cross keys shopping mall on main thoroughfare of retail corridor.
- Walgreens signed a new lease extension showing commitment to this location.
- Walgreens reports exceptional sales volumes at this store located in the Los Angeles MSA.
- Affluent HH income in a 5-mi radius of ±$110k and located at a corner with conbined traffic of ±60k VPD.
- Four medical facilities totaling 665 beds are located within a 2.1 mile radius of the subject property.
- 24-Hr store and pharmacy reporting exceptional annual sales with ±13 yrs. remaining on an absolute net lease.
- Walgreens closed the Rite Aid across the street shifting much of that customer base to the subject property.
- Adjacent to Atrium Health Hospital (157-beds) full service hospital.
- One of the best performing Rite Aid stores in the Midwest.
- Rite Aid added 10 years to the initial lease term in June of 2015 with six (5 year) options and increases.
- Roof was replaced in 2015 with a 20-year transferable warranty. Building exterior was also renovated.
- Walgreens has 14 years remaining with ten (5-year) options to extend on an absolute net lease.
- Located directly across the street from a CVS making this a strategic corner for Walgreens.
- Atrium Health Hospital is 2.9 mi away with 101 beds and a 24/7 emergency department.
- Walgreens extended lease to a firm 15-yrs in August 2022 showing commitment to this location.
- Walgreens is reporting strong sales at this store that has a 15-year operating history.
- Virginia Beach has a population of ±1,500,000 and is the most populous city in VA.
- Near ±23.6M SF of retail space and adjacent to 128K SF center anchored by Lion Food who renewed for 10 yrs.
- CVS has agreed to new 15-year lease with 10 (5-year) options with 5% increases in the options.
- Near 44-bed Central Harnett Hospital and only national brand drugstore in Lillington.
- Centrally located between Fayetteville and Raleigh along Highway 210.
- Lillington is the county seat of Harnett County who employ almost 54,000 employees.
- Absolute net lease with 12 years remaining.
- Affluent area with solid incomes of over $110,000 in 1-mile radius.
- Part of the Virginia Beach-Norfolk-Newport News, VA-NC MSA with over 1,800,000 residents.
- South of Naval Station Norfolk with more than 82,000 active duty personnel and 39,000 civilians.
- Affluent infill location 19 mi. from downtown Chicago, avg. HH income is $112,272 and 260,961 residents in a 5-mi radius.
- Recently extended lease, total of 20 yrs. remaining before the 8 (5-year) options, NNN, 2.5% increases in the options.
- Located 1.4 mi. from Advocate Good Samaritan Hospital with 333 beds and over 3,600 doctors and staff on the signalized SEC of Roosevelt Rd. & S. Westmore Meyers Rd. with a combined traffic count of ±66,355 VPD.
- Located blocks from the Medical District of Memphis with four major hospitals totaling approximately 6.5 million square feet of medical space within a three mile radius.
- Located 2.5 miles outside of downtown Memphis and is part of the Memphis MSA with a population of over 1,340,000 residents.
- Across the street from a Kroger shopping center and near I-69 with traffic counts of over 124,706 VPD.
- High traffic count of 63,111 cars per day and located 3 miles from Highway 99 with approximately 137,000 cars per day.
- Wells Fargo subleases a portion of the space on an absolute net lease basis for an opportunity of supplemental income.
- Average HH income in a 1-mile radius is $79,529, in a 3-mile radius it is $83,335 and $77,942 in a 5-mile radius with a population of 251,698 in a five-mile radius.
- One of only ±400 Walgreens locations with an in-store healthcare clinic.
- Directly across the street from CVS making this a strategic location for both Walgreens and CVS.
- Surrounded by residential neighborhoods and located at Exit 246 of Interstate 10 ±12 miles northwest of downtown Tucson. Average household income is $90,069 in a three-mile radius and $83,659 in a five-mile radius and 281,588 in a ten-mile radius.
- Subject property is located in a two-mile radius of three different hospitals.
- Located in a retail hub with approximately 1.8 million square feet of retail space.
- 50 miles north of Tampa along at the central coast Gulf of Mexico.
- Five mile radius population is 82,480 and household income is $60.598.
- Approx. 13 yrs. of term remaining before 10 (5-year) options, double net lease, landlord responsible for parking only.
- The lease allows for five percent (5%) rental increases in each of the ten (five-year) options.
- The lease structure for this asset does not include a rent holiday.
- Located less than 0.2 of a mile from Russell Medical, a not-for-profit acute care hospital.
- Only national chain drugstore in Alexander City, next nearest Walgreens or CVS over 13 miles away.
- 14+ years of term remaining on an absolute net lease with eleven 5-year options to extend.
