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31457634
31457635

20 Weston St, Waltham, MA 02453

EC
CA 01809955, NV S0172067 (+4)
Colliers - Los Angeles - Orange County, California
JS
CA 01360233
Colliers - Los Angeles - Orange County, California
JH
CA 02095091, AZ SA671521000
Colliers - Los Angeles - Orange County, California
Listed by Colliers - Los Angeles - Orange County, California
$5,523,000
62 days on market
Updated 62 days ago

Walgreens

Details
APN R058 020 0007
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,279
Cap Rate 6.25%
NOI $345,192
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 02/28/2038
Remaining Term 11.7
Rent Bumps Yes
Lease Options 12, 5-Year Option Periods Automatically Exercised without 12 Months Notice
Broker Co-Op Yes
Buildings 1
Acreage 1.430
Zoning Business B
Parking Spaces 93 spaces
Parking Per SqFt 6.51
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 02/23/2023

Retail | 6.25% CAP | 14,279 SqFt

Marketing description

The Snyder Carlton National Net Lease Team is pleased to offer investors the opportunity to acquire the absolute net leased Walgreens in Waltham, MA. Walgreens is the second largest pharmacy chain in the U.S., has been in business over 125 years and serves over 9 million customers daily. Walgreens has successfully occupied this location since 1992, has over 11.9 lease years remaining in the primary term with twelve 5-year option periods and benefits from zero landlord responsibilities.

The 14,279 SF building on 1.43-acre parcel is positioned on the hard corner signalized intersection of Weston Street and South Street which sees a combined traffic count exceeding 29,000 VPD and is directly adjacent Main Street which sees over 24,900 VPD.

Waltham is located within the Massachusetts Supercluster, a global powerhouse of economic activity driven by the dense concentration of biotech, pharma and tech firms. Anchored by world-class institutions like MIT and Harvard, providing a constant stream of talent and research, this area receives billions in funding every year from both venture capital groups and the National Institute of Health.

Don’t miss out on the excellent opportunity to purchase a top performing Walgreens within 16 miles of Boston on a long-term lease with no landlord responsibilities providing effortless cash flows for years to come.

Investment highlights

  • Proven Long Term Absolute NNN Corp. Lease by Walgreens - 12+ Years plus Options
  • Hyper Infill Corner - Part of Massachusetts Supercluster - Biotech/Life Science/Medical Device
  • Strong Lease Guarantee - Subsidiary of Sycamore Partners Private Equity ($11B+ Assets)
  • Recent New Prototype 15 Yr. Lease Extension to include Rare Rent Bumps every 5 Yrs.
  • Very Affluent Suburb outside Boston ($236,656 HHI) - High Barriers to Entry - Dense Residential
  • High Profile Large 1.43 Acre Site - Zero LL Duties - Proven Store via New Long-Term Lease
  • 2nd Largest Retail Pharmacy Chain in the Country - Best in Class Brand Name - 8000+ Locations

Listing Contacts

EC
CA 01809955, NV S0172067 (+4)
Colliers - Los Angeles - Orange County, California
JS
CA 01360233
Colliers - Los Angeles - Orange County, California
JH
CA 02095091, AZ SA671521000
Colliers - Los Angeles - Orange County, California
Listed by Colliers - Los Angeles - Orange County, California

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$345,192.00
$28,766.00/mo

Valuation Metrics

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DSCR
6.25%
Cap Rate
6.25%
ROI

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