Listed by CBRE - Atlanta, CBRE Atlanta
$3,251,700
Walgreens: Hot Springs, AR
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,422
Cap Rate 7.75%
NOI $252,002
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 24.3
Lease Expiration 06/30/2038
Remaining Term 11.9
Rent Bumps No
Lease Options Eleven, 5-Year Options
Price per SqFt $225
Year Built 2009
Acreage 2.730
Parking Spaces 61 spaces
Parking per 1,000 SqFt 4.23
Investment Type Net Lease
Lease Commencement 03/14/2014
Retail | 7.75% CAP | 14,422 SqFt
Marketing description
CBRE is pleased to offer for sale the 14,422-square-foot Walgreens positioned on 2.73 acres in Hot Springs, AR (MSA Population: 100,000+). Originally set to expire in 2034, Walgreens’ absolute NNN lease was extended through 2038 and now features ±12.0 years of primary term remaining with eleven, 5-year options to renew.
Investment highlights
- Originally set to expire in 2034, Walgreens’ absolute NNN lease was extended through 2038 and now features ±12.0 years of primary term remaining with eleven, 5-year options to renew.
- Positioned approximately 52 miles southwest of Little Rock and 6 miles southwest of downtown Hot Springs, Walgreens is located at the hard-corner, signalized intersection of Airport Road (34,000 VPD) and Kinsey/Marion Anderson Road (4,100 VPD).
- Walgreens is immediately adjacent to Lost Creek Grill, Rafter R Farm Supply, Paradise Donuts and Wolf Nutrition.
- In total, there are 5.3 MSF of retail, 1 MSF of office, 1.9 MSF of industrial and 3,622 multifamily units within a 5-mile radius of the site. Major retailers proximate to the site include Dollar Tree, AutoZone Auto Parts, McDonald’s, Taco Bell, O’Reilly Auto Parts, Walmart Neighborhood Market, Sonic Drive-In and Dollar General Market.
Listing Contacts
Listed by CBRE - Atlanta, CBRE Atlanta
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$252,002.00
$21,000.17/mo
Valuation Metrics
0
DSCR
7.75%
Cap Rate
7.75%
ROI
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