Listed by JLL - Dallas | Cedar Springs, Texas
$3,497,000
Walgreens Pharmacy - Fort Madison, IA
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,820
Cap Rate 8.15%
NOI $285,000
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 25.1
Lease Expiration 03/31/2034
Remaining Term 7.7
Price per SqFt $236
Year Built 2008
Lease Commencement 03/09/2009
Retail | 8.15% CAP | 14,820 SqFt
Marketing description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire CVS Pharmacy located at 2639 Avenue L, Fort Madison, IA 52627 (the “Property” or “Asset”). The tenant operates under an absolute NNN lease with approximately 8 years of primary term remaining.
Investment highlights
National tenancy with over 12,500 stores nationwide
Absolute NNN with zero landlord responsibilities
8.2 years of primary lease term remaining
Neighboring national retailers such as Hy-Vee with 780,000+ visitors annually
Regional draw, only Walgreens within a 15-mile radius
22% population growth within Lee County
15+ years of operational history at the site
Listing Contacts
Listed by JLL - Dallas | Cedar Springs, Texas
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$285,000.00
$23,750.00/mo
Valuation Metrics
0
DSCR
8.15%
Cap Rate
8.15%
ROI
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