Listed by SRS Real Estate Partners Chicago
$2,800,000
Walgreens - Marinette, WI
Details
APN 251-03791.003
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,820
Units 1
Cap Rate 8.75%
NOI $245,000
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Expiration 07/31/2036
Remaining Term 10
Rent Bumps Yes
Lease Options 10 (5-year)
Year Built 2004
Buildings 1
Acreage 2.020
Zoning B-3: Community Business District
Parking Spaces 54 spaces
Parking per 1,000 SqFt 3.64
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Ownership Fee Simple
10+Yr Abs NNN | Most Visited Pharmacy in 30Miles
Marketing description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, top-ranking, drive-thru pharmacy equipped, Walgreens investment property located in Marinette, WI. The tenant, Walgreen Co., has 10+ years of firm term remaining with an additional 10 (5-year) option periods left to extend. The lease features a one-time 14% rental increase at the beginning of the first option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.
Investment highlights
- 10+ Years Remaining | One-Time 14% Rental Increase | Corporate Signed Lease | Top Performing Store Within 30 Miles
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Dense Retail Trade Area | Strong National Tenant Presence
- Signalized, Hard Corner Intersection | Centralized Location | Drive-Thru Equipped Pharmacy | Excellent Visibility & Access
- Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area
Listing Contacts
Listed by SRS Real Estate Partners Chicago
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$245,000.00
$20,416.67/mo
Valuation Metrics
0
DSCR
8.75%
Cap Rate
8.75%
ROI
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