Listed by Marcus & Millichap - Jacksonville
$4,750,000
Walgreens | Aboslute NNN
Details
APN 103-02026000
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 13,389
Net Rentable (SqFt) 13,389
Units 1
Cap Rate 6.34%
NOI $301,056
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 13
Remaining Term 10
Rent Bumps Yes
Lease Options Four 5-Year Renewals, Plus 11 year Extension at end
Price per SqFt $355
Year Built 2003
Buildings 1
Stories 1
Zoning C-2 COMMERCIAL
Parking Spaces spaces
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/10/2022
Ground Lease No
Ownership Fee Simple
Sale Condition 1031 exchange
Absolute NNN | 30,700+ Combined VPD | 7% CAP
Marketing description
Corporate Walgreens Lease With In-Line Market Rents
10 Year Base Term Remaining till 2035
Four 5-Year Renewals at 3% Increases
End of The Fourth 5-Year Renewal There is an 11 Year Extension Ending
May 31, 2055
Lease Renewed November 2023 for 5 Years
Prime Location | Signalized Intersection With 30,700+ Combined VPD
Listing Contacts
Listed by Marcus & Millichap - Jacksonville
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$301,056.00
$25,088.00/mo
Valuation Metrics
0
DSCR
6.34%
Cap Rate
6.34%
ROI
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